Incoming House Financial Services Committee Chairman French Hill, R-Ark., said Jan. 3 that he plans to consult with the incoming Trump administration before possibly taking action on legislation to restrict U.S. outbound investment in China.
China announced new export controls on American defense contractors Jan. 2, adding some firms to a list that bans them from receiving dual-use items and adding another set of companies to its so-called Unreliable Entity List.
The Bureau of Industry and Security on Dec. 31 suspended the export privileges of four people after they were convicted of export-related offenses, including illegal shipments involving guns, ammunition and Iranian oil. The suspensions took effect from the date of their convictions.
Sen. Jacky Rosen, D-Nev., is joining the Senate Foreign Relations Committee this month for the new 119th Congress, incoming Senate Minority Leader Chuck Schumer, D-N.Y., announced Jan. 2.
The U.K. on Jan. 2 removed Abdelhafiz Zlitni from its Libya sanctions list. The U.K. had listed Zlitni as the minister for planning and finance of the Libyan government under Colonel Muammar Gaddafi.
The Office of Foreign Assets Control was one of multiple Treasury Department offices recently breached by Chinese government hackers, the Washington Post reported this week. Treasury reportedly disclosed the hack in a Dec. 30 letter to lawmakers, saying that it was still assessing the impact. The agency added that the documents accessed were unclassified and there was no evidence the hacker still has access to Treasury systems.
China’s Ministry of Commerce this week published proposed updates to its list of technologies subject to export controls, including new and revised restrictions on technology used to make battery parts and process certain critical minerals, according to an unofficial translation. If China moves forward with the controls, it would further restrict critical minerals such as lithium and gallium along with the technology used to process them, Reuters reported Jan. 2. The controls are reportedly open for public comment until Feb. 1.
The Bureau of Industry and Security on Jan. 2 published its annual export enforcement year in review, outlining the various penalties it imposed, indictments and guilty pleas it helped bring, guidance documents it issued and Entity List additions during 2024. The summary highlights enforcement actions against China, Russia and Iran; the due diligence best practices and recommendations BIS issued to exporters, financial institutions, and academia; export control-related partnerships the U.S. formed with trading partners; and more.
Export Compliance Daily is providing readers with the top 20 stories published in 2024. All articles can be found by searching on the titles or by clicking on the hyperlinked reference numbers.
The Bureau of Industry and Security on Jan. 6 will add 13 companies to the Entity List for illegally shipping export-controlled items in support of China’s military modernization efforts or Pakistan’s ballistic missile program. The entities are located in Myanmar, China and Pakistan, the agency said in a final rule released Jan. 3. They will be subject to license requirements for all items subject to the Export Administration Regulations, and licenses will be reviewed under a presumption of denial.