Restrictive trade measures from 20 of the world's leading economies "significantly increased" over the past year, the World Trade Organization found in its 31st Trade Monitoring Report. While the Group of 20 countries also imposed 141 trade facilitating measures, the report said that from October 2023 to October 2024, G20 nations imposed 91 new trade-restrictive measures covering around $828.9 billion worth of goods, up from about $246 billion worth of goods in the last report, which covered restrictions imposed from mid-May to mid-October 2023.
Sen. Elizabeth Warren, D-Mass., said in a statement Nov. 13 that she expects to become the ranking member on the Senate Banking Committee in the next Congress, which begins in January.
The U.K.’s Office of Financial Sanctions Implementation this week sanctioned Abdel Rahman Juma Barkalla and Osman Mohamed Hamid Mohamed, two senior officials with the Rapid Support Forces, a militant group in Sudan that has been accused of human rights violations. The designations follow similar sanctions imposed by the U.N. (see 2411120042) and the U.S. (see 2411120006).
The U.K. offered guidance this week about how companies should address a recently announced Russian decree that requires securities held at the country's National Settlement Depository to be transferred to local Russian registrars. The move is an attempt by Russia to evade Western sanctions on its National Settlement Depository, the U.K. said in new FAQ 124, warning British companies that the local Russian registrars may also be captured by sanctions.
The Office of Foreign Assets Control this week issued several new and revised FAQs to provide sanctions guidance to the insurance industry.
Foreign investment lawyers aren’t expecting a big change in how the Committee on Foreign Investment in the U.S. operates under a second Trump administration, although a new round of tariffs against China and the continued easing of export restrictions among close U.S. allies could change the investment landscape and the number of filings submitted to CFIUS.
The EU and the U.S. should tighten sanctions against both China and Russia, the EU’s next top foreign affairs official said, saying the two sides need to work closely to break up an emerging alliance between Moscow and Beijing.
Sen. Jim Risch, R-Idaho, ranking member of the Senate Foreign Relations Committee, is expected to become the committee’s chairman when Republicans take control of the Senate in January, a Senate aide said Nov. 8. As ranking member, Risch has urged the Biden administration to counter China’s material support for Russia’s war machine, curb Chinese purchases of Iranian oil and implement new sanctions on Iranian oil (see 2407300033). The current chairman, Sen. Ben Cardin, D-Md., is retiring from the Senate.
Sen. Marco Rubio, R-Fla., President-elect Donald Trump’s reported choice to be secretary of state, and Rep. Mike Waltz, R-Fla., Trump's selection to be national security adviser, have played active roles on export controls and sanctions while serving in Congress.
Companies using the State Department’s Defense Export Control and Compliance System should take steps to avoid two common “oversights” that Wilmarth & Associates said often cause licensing and registration delays for defense exporters.