Most businesses likely won’t consider entering the Syrian market until the sanctions relief granted by the Trump administration (see 2506300055 and 2505230073) appears to be more permanent, panelists said during a webinar this week hosted by the Arab Center in Washington.
Beijing this week added new export controls on certain battery electrode material preparation technology and removed restrictions on three items related to building construction technology, China’s Ministry of Commerce said, according to an unofficial translation.
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The Office of Foreign Assets Control fined a Connecticut-based online investment broker $11,832,136 to settle alleged violations of multiple U.S. sanctions programs, saying the company illegally provided services to sanctioned people and restricted countries, and it processed trades in securities of blocked Chinese military companies.
The Trump administration will allow semiconductor firm Nvidia to sell its previously restricted advanced H20 chips to China as part of an agreement Washington and Beijing reached during trade talks in recent months, Treasury Secretary Scott Bessent said.
James Treanor, former attorney-adviser in the Office of Foreign Assets Control's chief counsel's office, has joined Akin as a senior counsel, he announced on LinkedIn. Treanor will help clients with international trade and national security-related regulatory and enforcement issues, including those related to sanctions and export controls. He left OFAC in June.
The European Commission on July 14 imposed definitive antidumping duties on multilayered wood flooring from China, ranging from 21.3% to 36.1%. Specifically, the duties cover wood flooring that's made of several layers of wood veneer glued or bonded together. They were imposed following an investigation finding that dumped Chinese flooring imports were harming the EU industry.
An Iranian national and U.S. resident was arrested for allegedly exporting electronics used in railway signaling and telecommunications systems in violation of the International Emergency Economic Powers Act and the Iranian Transactions and Sanctions Regulations, DOJ announced last week. Bahram Ostovari is charged with one count of conspiring to violate the IEEPA and three counts of violating the IEEPA, facing a maximum prison sentence of 20 years for each count.
The Trump administration should “maintain and strengthen” the Australia-U.K.-U.S. security partnership as part of a broader effort to compete with China, Democrats on the Senate Foreign Relations Committee said in a report released July 14.
The House Appropriations Committee unveiled an FY 2026 transportation appropriations bill July 13 that would fully fund the Trump administration’s budget request of $40 million for the Federal Maritime Commission.