The Office of Foreign Assets Control on Jan. 14 issued a new general license and several new frequently asked questions to provide guidance on President Donald Trump’s November executive order to ban U.S. investment in Chinese military companies (see 2011130026). General License No. 2 authorizes certain transactions and activities involving publicly traded securities of certain entities on OFAC’s Chinese military companies list (see 2012290017). Transactions with companies added to OFAC’s list after 12:01 a.m. EST Jan. 14 are authorized through 12:01 a.m. Eastern time on the date that is 365 days after the date the entity was added to OFAC’s list.
The Office of Foreign Assets Control issued a general license authorizing certain transactions involving securities of companies affiliated with the Chinese military. General License No. 1, issued Jan. 8, authorizes certain transactions involving publicly traded securities with an entity with a name that “closely” matches the name of a company identified in President Donald Trump’s November executive order (see 2011130026) but that has not yet been identified on OFAC’s Chinese military companies list (see 2012290017). The authorization also applies to transactions involving “any securities that are derivative of” those publicly traded securities or “designed to provide investment exposure to such securities.” The transactions are authorized through 9:30 a.m. EST Jan. 28.
The United Kingdom’s Office of Financial Sanctions Implementation updated general licenses under its counterterrorism licensing policy, a Jan. 11 notice said. The U.K. revoked three general licenses and revoked and replaced one general license related to “legal aid.” The legal aid license allows certain agencies and bodies to make payments relating to “legal services” to sanctioned people.
The Office of Foreign Assets Control Jan. 4 issued a revised general license that continues to authorize certain transactions (see 1908060048) with Venezuela's “Interim President” Juan Guaido, his staff and others operating under his government. OFAC also amended frequently asked question 679, which outlines the people and entities covered by general license No. 31A.
The United Kingdom’s Export Control Joint Unit on Dec. 24 published a general license authorizing the provision of certain “technical assistance, financial services and funds, and brokering services” for energy-related goods. The general license, which will be available 11 p.m. U.K. time Dec. 31, applies only to energy-related goods not for use in Russia. Activities related to goods for use in Russia require an individual license, the U.K. said.
The Office of Foreign Assets Control on Dec. 23 extended a general license related to Petroleos de Venezuela and updated a frequently asked question. General License No. 5F, which replaced No. 5E (see 2010060036), authorizes certain transactions with PdVSA involving an 8.5% bond on or after July 21, 2021. OFAC also updated a Venezuela sanctions FAQ to reflect the change.
The U.S. sanctioned eight people and 10 entities for being members of or supporting the Syrian government, the Treasury Department said Dec. 22. The sanctions designate two people and 10 entities by Treasury and six people by the State Department. Treasury also issued three new frequently asked questions related to Syria.
The Commerce Department published its fall 2020 regulatory agenda for the Bureau of Industry and Security, including new mentions of rules to amend Hong Kong under the Export Administration Regulations, releases of controlled technologies to standards setting bodies and a range of new technology controls.
The Office of Foreign Assets Control on Dec. 7 issued two new frequently asked questions and updated four additional FAQs related to a January executive order that expanded U.S. sanctions authority against Iran (see 2001100050). The two new FAQs clarify whether transactions related to international organizations and Iran’s participation in international legal proceedings are subject to secondary sanctions.
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