The Bureau of Industry and Security is encouraging industry and foreign countries to do more to ensure American high-tech products don't end up in Russian weapon systems, a Commerce Department official said April 10.
The Treasury Department is preparing to issue a proposed rule that could expand the powers of the Committee on Foreign Investment in the U.S., allowing CFIUS to impose higher penalties and collect a broader array of information from parties involved in non-notified transactions. The rule also could give CFIUS broader subpoena abilities, expand the circumstances in which it may fine a company, set timelines for responses to mitigation proposals, and more.
Turkey opened a safeguard investigation on ethyl acetate, the nation told the World Trade Organization's Committee on Safeguards, the WTO announced. Turkey opened the investigation April 6 and said interested parties must file a questionnaire response within 30 days from the start of the investigation.
The Council of the EU on April 8 formally approved a provisional deal reached between the council's presidency and the European Parliament to "renew the suspension of import duties and quotas on Ukrainian exports" to the bloc until June 5, 2025, the council announced (see 2403200028). The regulation next must be confirmed by the European Parliament's Committee on International Trade and the European Council prior to entering into force June 6.
The Treasury Department has asked lawmakers to approve a series of proposals to help it counter terrorist groups and other bad actors that increasingly use cryptocurrency to evade financial sanctions, Deputy Treasury Secretary Wally Adeyemo said April 9.
The Biden administration’s pause on pending decisions for liquefied natural gas exports has forced an LNG project in Port Arthur, Texas, to suspend its expansion plans, jeopardizing thousands of local jobs, Rep. Randy Weber, R-Texas, said April 5.
Rep. Bob Good, R-Va., introduced a bill April 5 that would direct the State Department to designate the MS-13 international criminal gang a foreign terrorist organization. The legislation was referred to the House Judiciary Committee. Further details weren't immediately available.
Sen. Tim Scott, R-S.C., the ranking member on the Senate Banking Committee, and 12 other Republican senators criticized the Biden administration’s renewal of an Iran sanctions waiver last month, saying the move will help Tehran fund terrorism.
Correction: The omission of funding for outbound investment restrictions in the recently enacted Further Consolidated Appropriations Act of 2024, or second minibus, is designed to prevent the Biden administration from blocking U.S. investors from taking over Chinese companies, the House Appropriations Committee said (see 2403250069).
The House is drafting a national security supplemental appropriations bill that could include a provision to seize frozen Russian assets in the U.S. and transfer the money to Ukraine, Speaker Mike Johnson, R-La., said March 31.