The Bureau of Industry and Security this week issued a new set of frequently asked questions covering the Entity List, Russia-related export controls and Russia-related sanctions evasion.
China and Russia this month held a meeting on economic and trade cooperation, at which the two sides discussed “developing bilateral trade,” according to an unofficial translation of a Chinese Ministry of Commerce notice. China-Russia trade has “maintained a sound growth” since the beginning of the year, the notice said, adding that the two countries should continue to “consolidate trade of key goods, strengthen economic cooperation and trade between small and medium-sized enterprises and local regions,” and “deepen trade and investment facilitation.” The meeting comes as much of the Western world, including the U.S. and the European Union, imposes sanctions and other trade restrictions against Russia for its invasion of Ukraine.
The U.K.’s Office of Financial Sanctions Implementation this week issued a new general license to allow certain transactions related to energy use in Mongolia. The license will allow certain payments to certain sanctioned banks -- including the Credit Bank of Moscow, Gazprombank, Sberbank and Rosbank -- or their subsidiaries “for the purpose of making energy available” in Mongolia. The license took effect Aug. 15 and will expire Aug. 14, 2023.
The Office of Foreign Assets Control published in the Federal Register a group of previously issued general licenses, including one set of licenses covering sanctions against Russia and two sets of licenses related to Venezuela. The full text of each license appears in the respective notice.
The EU needs to better diversify its trading partners and reform its anti-coercion instrument to protect itself from Chinese sanctions, Hinrich Foundation researchers said in a report this week. The EU also should establish a new multilateral economic security office to study and better respond to sanctions and trade restrictions imposed by third countries, the report said.
Australia plans to designate Russian gold an “import sanctioned good” under its autonomous sanctions regime, the country said Aug. 15. The designation will restrict imports and transportation of Russian gold by Australians, including gold in unwrought, semi-manufactured or powder forms. Australia said its period of public consultation on the sanctions will close Aug. 29.
The U.S. should better regulate the cryptocurrency industry to increase sanctions compliance, but not in a way that inhibits innovation, companies and trade groups told the Treasury Department in comments released this month. Some commenters said Treasury should issue more guidance to help firms better understand their compliance obligations and help digital assets from being used to evade global sanctions.
The U.K.’s Office of Financial Sanctions Implementation this week amended 27 entries on its Russia sanctions list. The entries, which include military officials, are still subject to asset freezes.
At least 450 kinds of foreign-made parts and components have been found in Russian military equipment captured in Ukraine since Moscow’s invasion earlier this year, the Royal United Services Institute said in a report this week. The majority of those components were manufactured in the U.S., the think tank said, and at least 80 “different kinds of components” are subject to U.S. export controls.
The U.S. obtained a warrant to seize an airplane owned by sanctioned Russian oligarch Andrei Skoch, DOJ said Aug. 8. The agency said the Airbus A319-100 aircraft was designated by the Office of Foreign Assets Control in June and is owned by Skoch through a series of shell companies and trusts tied to his “romantic partner.” The aircraft is worth more than $90 million, DOJ said.