A foreign investment review bill being considered by the United Kingdom will significantly expand the number of transactions subject to reviews and create greater due diligence requirements for U.K. companies, trade lawyers said. As more countries aim to increase their foreign investment screening, particularly the U.S. (see 2005200032), the U.K. is hoping to better protect its industry from trade theft and national security threats, the lawyers said.
Five senators announced a bill to expand on sanctions against Russia’s Nord Stream 2 pipeline. The bill would sanction vessels involved in laying the pipes, those who provide the vessels and those who provide tethering services to those vessels, according to a June 4 press release. “This new bill will once and for all clarify that those involved in any way with installing pipeline for the project will face crippling and immediate American sanctions,” said Sen. Ted Cruz, R-Texas, who introduced the bill along with Sens. Jeanne Shaheen, D-N.H.; John Barrasso, R-Wyo.; Tom Cotton, R-Ark.; and Ron Johnson, R-Wis.
Germany asked the European Union to impose sanctions on Russia for a 2015 cyberattack on Germany’s parliament, Germany’s Federal Foreign Office said May 28, according to an unofficial translation. Germany said it will ask the EU to invoke its “cyber sanctions regime … with respect to those responsible for the attack,” including Russian national Dmitri Badin. Germany issued an arrest warrant for Badin after alleging he worked with others to “carry out intelligence activities” against the country. Germany added that it is considering “further measures.”
A North Korean bank and 28 North Korean and Chinese citizens were charged with evading U.S. sanctions, according to an indictment unsealed May 28. The scheme -- which included branches of North Korea’s state-owned Foreign Trade Bank in Thailand, Libya, Austria, Russia, Kuwait and China -- involved a series of front companies used to access the U.S. financial system. The scheme allowed the banks to process at least $2.5 billion in illegal payments through more than 250 front companies, which provided funding for North Korea’s nuclear missile programs.
The Trump administration is ending sanctions waivers for certain activities with nuclear projects in Iran, the State Department said May 27. The move will end waivers covering “all remaining” Iranian nuclear projects that originated under the Joint Comprehensive Plan of Action, which allowed Chinese, Russian and European companies to work on Iranian nuclear sites.
Russia is considering a draft bill that would allow imports of sanctioned goods under certain circumstances, according to a May 22 post on a Baker McKenzie blog. The bill, proposed earlier this month, will allow imports if the goods constitute “essential commodities that do not have analogues in Russia” or if Russia is experiencing a shortage of those goods due to the COVID-19 pandemic, Baker McKenzie said.
Ukraine’s president issued a decree amending its sanctions list, according to a May 18 post on the EU Sanctions blog and a May 14 notice from Ukraine. The decree imposes sanctions on Russian entities, bans withdrawing certain funds outside Ukraine, cancels certain licenses and permits, and delists 233 entries from sanctions, the post said. The decree also renews a ban for three years on certain Russian internet service providers and social media sites, the post said.
The Trump administration is still considering sanctioning India over purchases of Russian missile defense systems, a top State Department official said. Alice Wells, principal deputy assistant secretary of state for South and Central Asia, said there remains widespread support both within the administration and in Congress for sanctioning buyers of Russian military goods, adding that India needs to choose either U.S. or Russian military equipment, but cannot have both.
Two members of the House Committee on Foreign Affairs introduced legislation that urges the Trump administration to sanction Russian government officials responsible for human rights abuses. Reps. Eliot Engel, D-N.Y., and Michael McCaul, R-Tex., said the bill aims to penalize the Russian government for imprisoning journalists, political opposition leaders and religious freedom activists, according to a May 11 press release. The bill asks the administration to impose sanctions under the Global Magnitsky Human Rights accountability Act or “other applicable” authorities.
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