The Office of Foreign Assets Control this week released the texts of two previously issued Ukraine/Russia-related General Licenses. The licenses are GLs 2 and 10, which expired in 2014 and 2016, respectively. The licenses authorized certain wind-down transactions or divestments involving sanctioned Russian entities.

The Treasury Department is seeking feedback to inform its work under a March executive order on illegal uses of cryptocurrencies and other digital assets (see 2203090067). The agency’s request for comments, released last week, asks for feedback on the “general risks” in digital assets financial markets, how businesses are using digital assets and more. The executive order requires several agencies to study how digital assets can be used to evade U.S. and foreign sanctions and affect national security. Comments are due Aug. 8.

President Joe Biden this week extended for one year beyond July 14 a national emergency that authorizes certain sanctions against China for efforts to undermine Hong Kong’s autonomy, the White House said. The situation in Hong Kong continues to “pose an unusual and extraordinary threat to the national security, foreign policy, and economy” of the U.S., the White House said July 11.

The Treasury Department is committed to “increasing the number” of counter-narcotics sanctions over the next few years, said Brian Nelson, the agency’s undersecretary for terrorism and financial intelligence, speaking during a July 12 hearing in front of the Senate Caucus on International Narcotics Control. Nelson said Treasury has specifically been prioritizing sanctions work against fentanyl and other synthetic opioid networks and dedicating “significant investigative resources to that particular problem set.”

The Treasury Department last week released a list of countries that require or may require participation in, or cooperation with, an international boycott. Listed are Iraq, Kuwait, Lebanon, Libya, Qatar, Saudi Arabia, Syria and Yemen. The list is unchanged from the previous version (see 2204040005).

The Office of Foreign Assets Control has designated Obed Christian Sepulveda Portillo for the trafficking of high-caliber firearms from the U.S. to Cartel de Jalisco Nueva Generacion (CJNG), one of Mexico’s most powerful drug organizations, according to a July 11 news release.

Canada on July 9 announced more sanctions against Russia due to its war in Ukraine, including new restrictions on Russia’s oil, gas and chemical sectors. Canada will ban Canadians from providing certain services that contribute to the “production of goods made by these sectors,” the country said, including restrictions on land and pipeline transport services and activities relating to the manufacturing of metals, transport, computer, electronic and electrical equipment. Canadian companies will have 60 days from the day the sanctions take effect to end contracts with the affected Russian industries.

The joint alert issued last month by the Commerce and Treasury departments (see 2206280056) puts companies “on notice” about the types of red flags they should be monitoring for potential sanctions and export control evasion tactics, Lewis Brisbois said in a July alert. While the red flags in the alert aren’t exhaustive, companies should consider them alongside “all surrounding facts and circumstances” when filing a suspicious activity report to Treasury, the firm said, or while complying with U.S. export restrictions. “At the very least, ‘covered entities’ will need to conduct a fact-intensive analysis on these potential 'red flag' indicators to ensure compliance with U.S. law,” the firm said.

The U.K. Office of Financial Sanctions Implementation announced that it amended one entry under its Belarus sanctions regime -- updating the listing information for LLC Synesis, which provided Belarus with a video surveillance and monitoring system -- and one under its North Korea sanctions list -- updating the listing for Pak Chun Il, North Korea's ambassador to Egypt.

The Office of Foreign Assets Control this week revised a Belarus-related entry on its Specially Designated Nationals List. The change updates identifying information for Belarusian Oil Trade House, which was sanctioned in 2008.