The State Department approved a possible $215 million military sale to the Netherlands, the Defense Security Cooperation Agency said last week. The sale includes air-to-ground missiles and related equipment, and the principal contractor will be Lockheed Martin.
Two leaders of the House Republican Study Committee urged Congress June 16 to advance sanctions legislation aimed at stopping Iran from developing nuclear weapons and supporting terrorism.
Stacey Feinberg, President Donald Trump’s nominee for U.S. ambassador to Luxembourg, said June 12 that she would work with Luxembourg to improve its screening of foreign investment, especially from China.
Sens. Chris Van Hollen, D-Md., Tim Kaine, D-Va., and Alex Padilla, D-Calif., introduced a bill June 12 that would impose property-blocking sanctions on Salvadoran officials for alleged human rights abuses, including imprisoning U.S. residents deported by the Trump administration without due process.
Sen. Pete Ricketts, R-Neb., reintroduced legislation June 12 aimed at curbing U.S. investment in China. One bill would prohibit Americans from owning the publicly traded securities of U.S.-sanctioned companies, while another would bar index mutual funds from holding Chinese stocks. Both bills, which Ricketts previously introduced in the last Congress (see 2409270021), were referred to the Senate Banking Committee.
The Trump administration released more details about the conditions for Japan-based Nippon Steel's purchase of U.S. Steel, which Trump said would result in a $14 billion investment in the U.S. economy while keeping the American company headquartered in the U.S. (see 2505230075).
Taiwan added more than 600 companies to its list of those subject to stringent export license requirements, including major Chinese technology companies Huawei and SMIC.
Despite the Trump administration easing certain sanctions against Syria, companies should still be carrying out careful due diligence and should be aware of other legal risks they could face before doing any business in the country, industry advisers said this week.
The U.K. last week updated a general license authorizing insolvency-related payments and activities involving Russian aircraft leasing companies GTLK Europe and GTLK Capital. The changes add new definitions for "notes, Noteholders, Trustee, Relevant non-UK Institution, UK Prohibited Persons and UK Prohibited Persons Account," clarified that certain funds must be held in frozen accounts, revised a notification requirement and a record-keeping requirement, and added a new reporting requirement.
The European Commission is adding multiple countries to its list of high-risk jurisdictions with “strategic deficiencies” in their national anti-money laundering and countering the financing of terrorism regimes. The additions are Algeria, Angola, Ivory Coast, Kenya, Laos, Lebanon, Monaco, Namibia, Nepal and Venezuela. The EU also will delist Barbados, Gibraltar, Jamaica, Panama, the Philippines, Senegal, Uganda and the United Arab Emirates.