The Office of Foreign Assets Control's $11.8 million sanctions fine levied on Interactive Brokers earlier this month is another sign that the agency intends to focus enforcement on "financial gatekeepers," including investment firms, accountants and wealth advisers (see 2506230023), Baker Botts said in a client alert.

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California-based electronic design automation firm Cadence will pay more than $140 million in combined civil fines, criminal penalties and forfeitures after the U.S. said it violated export controls against China. The company pleaded guilty to illegally exporting EDA hardware, software and semiconductor design intellectual property technology to Chinese entities, including a university and company on the Entity List.

Michael Pender, a former longtime senior engineer with the Bureau of Industry and Security, is joining legal and advisory firm Fenwick as a trade analyst, he announced on LinkedIn. Pender left BIS at the end of April after first joining the agency in 2004.

The EU and Moldova struck a deal to update the terms of the EU-Moldova Deep and Comprehensive Free Trade Area, the European Commission announced.

The European Commission on July 28 imposed antidumping duties on epoxy resins from China, Taiwan and Thailand following an investigation finding epoxy resin imports from these nations harms the EU industry. The investigation originally also included epoxy resins from South Korea, but these goods were removed from the investigation due to a lack of evidence of dumping from South Korea. The AD rates range from 17.3% to 33% for China, and from 10.8% to 11% for Taiwan, and are at 29.9% for Thailand.

President Donald Trump said he's no longer giving Russia 50 days, until Sept. 2, to stop its war in Ukraine or face trade measures. He told reporters in Scotland on July 28, "I'm going to make a new deadline of about 10 or 12 days from today. There's no reason in waiting," he said. "We just don't see any progress being made."

Australia last week announced plans to lift import restrictions on U.S. beef, marking an “important moment for the U.S.-Australia trade relationship and a historic win for U.S. ranchers,” the U.S. trade representative said.

The Trump administration is considering imposing a terrorist designation on the Gaza-based Popular Resistance Committees, a State Department official said July 23.

Reps. Laurel Lee, R-Fla., and August Pfluger, R-Texas, introduced a bill July 25 that would clarify that ship-to-ship transfers of liquefied natural gas to be used as marine fuel are not considered exports unless conducted in foreign waters.