The U.S. government is considering requiring a small proportion of exported goods, both containerized and not, and including liquified natural gas, to be carried on U.S.-flagged ships by U.S. operators, with the proportion climbing over time, and, eventually, with U.S.-built ships also required.
The World Trade Organization Dispute Settlement Body agreed during its Feb. 24 meeting to establish a dispute panel on China's request to review Turkey's measures on electric vehicles and other types of vehicles from China. China's first request for a panel was blocked at the Jan. 27 DSB meeting. Following China's renewed effort to seek a dispute panel, Turkey said it's concerned that "China is making such a request before all possible bilateral consultations are exhausted," since the dispute concerns a "major sector that has been facing strong challenges for many years due to uncompetitive practices, subsidization and excess capacity," the WTO said.
The EU unveiled its latest Russia sanctions package this week, including an import ban on primary aluminum; new export controls on dual-use items used by Russia’s military; more restrictions against Russia's energy sector; new sanctions against companies, people and vessels helping Moscow evade trade restrictions; and more.
Senate Banking Committee ranking member Elizabeth Warren, D-Mass., urged her fellow lawmakers Feb. 24 to oppose attempts to unwind measures that are designed to pressure Russia to seek peace with Ukraine. Following Russia’s February 2022 invasion of Ukraine, the U.S. imposed sanctions and export controls on Russia and provided arms to Ukraine, noted Warren, who said in a statement that she’s concerned President Donald Trump will make unwarranted concessions to Russian President Vladimir Putin in a bid to end the war. Instead of easing up on Moscow, the Trump administration should be heading off Russia’s attempts to evade U.S. sanctions with the help of China, Iran and North Korea, she said.
Sen. Rick Scott, R-Fla., and Rep. Lance Gooden, R-Texas, reintroduced a bill last week that aims to counter China’s attempts to steal U.S. trade secrets and intellectual property. The legislation also seeks to protect U.S. critical infrastructure and supply chains from foreign investment.
The Council of the European Union on Feb. 24 suspended various sanctions on Syria to support an "inclusive political transition" there, the council said.
The U.K. added 34 people and 33 entries to its Russia sanctions list on Feb. 24, the Office of Financial Sanctions Implementation announced. In addition to listing Russian companies, OFSI sanctioned companies based in Hong Kong, China, Germany, Thailand, India, Ukraine, Turkey, the United Arab Emirates and Kyrgyzstan for contributing to Russia's economy or war effort, along with businesspeople and military figures from Russia, Turkey, Kazakhstan, North Korea and Israel for contributing to the destabilization of Ukraine or operating in a sector of strategic significance to Russia.
The U.S. this week sanctioned more than 30 people, entities and ships helping to sell and move Iranian petroleum products, including oil brokers in the United Arab Emirates and Hong Kong, tanker managers in India and China, and Iranian oil officials. The Treasury Department said the newly designated tankers have helped ship tens of millions of barrels of Iranian crude oil worth hundreds of millions of dollars.
The Trump administration has ended a Biden administration policy requiring recipients of U.S. foreign military aid to provide written assurances that they will use those weapons in accordance with international humanitarian law, the Washington Post reported Feb. 24.
Matt Borman, a longtime senior career official overseeing export control regulations at the Bureau of Industry and Security, is expected to leave BIS soon, according to two people familiar with the matter.