China last week announced sanctions against nine American defense companies and their senior executives for arms sales to Taiwan. The measures, taken under China’s anti-foreign sanctions law (see 2309270039 and 2310230032), target Sierra Nevada, S3 Aerospace Defense, ACT1 Federal, Cubic Corp. and others, according to an unofficial translation of a Sept. 18 notice from the country’s Ministry of Foreign Affairs. The ministry said the sanctions freeze those companies’ assets in China, and Chinese companies will be barred from doing certain business with their executives.
The EU General Court on Sept. 11 rejected the Russian National Settlement Depository's challenge to its listing on the Russian sanctions list. The court said that the European Council didn't fail to show that the depository, which provides financial services and securities record-keeping and custody services, plays an "essential role in the functioning of Russia's financial system."
Defense firm RTX Corp. will pay $200 million to settle alleged violations of U.S. defense export controls, the largest standalone export penalty ever issued by the State Department. RTX voluntarily disclosed the 750 violations, the agency said in a charging letter, most of which involved “historical” issues by an aerospace firm acquired by RTX in 2018.
China last week imposed sanctions against U.S. Rep. Jim McGovern, D-Mass., for frequently making "remarks and actions that interfere in China's internal affairs and undermine China's sovereignty, security and development interests," China's Ministry of Foreign Affairs announced, according to an unofficial translation. The ministry said it will impose an asset freeze and travel ban on McGovern.
Senate Foreign Relations Committee Chairman Ben Cardin, D-Md., Aug. 1 encouraged U.S. allies and partners to impose more sanctions on those waging Sudan’s civil war.
Canadian traders should prepare for increased scrutiny from the country’s customs agents for a range of imports in the coming months, and should consider conducting an “internal compliance review” to make sure they’re complying with all duties and trade laws, Baker McKenzie said in a July 25 client alert.
The EU is considering entities to be subject to sanctions if they are owned 50% or more by another sanctioned entity or party, a move that aligns the bloc with the U.S. Office of Foreign Assets Control’s 50% rule. The announcement is a change from the EU’s previous position on the ownership test threshold, which had previously extended asset freezes to entities only if they were owned more than 50% by a sanctioned party, a law firm said this week.
The U.K.’s Office of Financial Sanctions Implementation issued new guidance July 16 to clarify how its Russia-related sanctions apply to certain business services, including operating or managing a trust.
China last week announced sanctions against six American defense companies and their senior executives for arms sales to Taiwan. The measures, taken under China’s anti-foreign sanctions law (see 2309270039 and 2310230032), target Anduril Industries, Maritime Tactical Systems, Pacific Rim Defense, AEVEX Aerospace, LKD Aerospace and Summit Technologies, according to an unofficial translation of a July 12 notice from the country’s Ministry of Foreign Affairs. The ministry said the sanctions freeze those companies’ assets in China, and Chinese companies will be barred from doing certain business with their executives. Spokespeople for the six companies didn’t respond to a request for comment.
The Council of the European Union sanctioned six people and three entities from Iran for transferring unmanned aerial vehicles to Russia for use in its war in Ukraine, the council announced May 31. The entities are Khatam al-Anbiya Central Headquarters, a "central entity in the command chain of Iran's armed forces"; Kavan Electronics Behrad, an Iran-based UAV procurement firm; and the Islamic Revolutionary Guard Corps Navy, which delivers Iranian UAVs. The council also listed Iranian Defense Minister Mohammad-Reza Gharaei Ashtiani, along with a commander of the IRGC Qods Force and the head of the sanctioned Iranian Aviations Industries Organization. Sanctioned parties are subject to an asset freeze and travel ban.