The Treasury Department this week issued a new alert about the risks faced by U.S. and foreign financial institutions from sanctioned international cartels. The alert highlights the Trump administration’s increased enforcement focus on cartels, including its decision earlier this year to label several Latin America-based criminal groups as foreign terrorist organizations and specially designated global terrorists (see 2502190011 and 2502200019).
President Donald Trump has instructed the Treasury Department to increase sanctions "to bring President [Vladimir] Putin to the table," if necessary, Treasury Secretary Scott Bessent said. He stated that Trump had "instructed [him] to rethink the sanctions regime" and that the administration is "going for the maximum impact sanctions."
The Bureau of Industry and Security is reviewing public comments on two rules it proposed last year to expand U.S. persons controls, a Commerce Department official said March 18.
The congressionally mandated National Security Commission on Emerging Biotechnology is expected to include recommendations on export control policy in its upcoming report to Congress, a Commerce Department official said March 18.
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The Bureau of Industry and Security hasn't yet lifted all the licensing holds that began for export applications in early February, a Commerce Department official said this week, although the agency is hoping to make progress on the holds soon.
The Trump administration plans to substantially increase fines against companies that violate export controls, including against China, Commerce Secretary Howard Lutnick said this week. He also said the U.S. is planning to incorporate export control commitments into free trade deal negotiations as a way to incentivize trading partners to better restrict their sensitive technologies.
The European Commission issued updated guidance last week to clarify the exemptions for the temporary storage of Russian crude oil and petroleum products in EU free trade zones.
A Chinese national was sentenced on March 14 to 30 months in prison for his role in a scheme to smuggle protected turtles from the U.S. to Hong Kong, DOJ announced. Sai Keung Tin pleaded guilty last year to four counts of illegally exporting the turtles.
Three U.K.-registered charity organizations violated the country’s financial sanctions regulations when they failed to respond to letters from the Office of Financial Sanctions Implementation, the agency said this month.