The European Council adopted a new sanctions framework April 28 that allows the EU to impose restrictions on parties responsible for supporting or implementing actions that undermine the sovereignty of Moldova. The sanctions will target those who "obstruct or undermine the democratic political process, including the holding of elections, or attempt to overthrow the constitutional order, including through acts of violence," and those who engage in financial misconduct and the "unauthorised export of capital," the EC said. The restrictions amount to an asset freeze and travel ban.
The State Department’s Directorate of Defense Trade Controls released its annual report to Congress on certain controlled defense exports. The report, released April 28, details the aggregate value and quantity of defense items and services authorized to each foreign country and international organization during FY 2022.
The Office of Foreign Assets Control this week issued new General License 42, which authorizes certain transactions involving the IV Venezuelan National Assembly, its “Delegated Commission,” any entity established by the assembly to “exercise its mandate,” or “any person appointed or designated by, or whose appointment or designation is retained by” such an entity. Those transactions include any that are “ordinarily incident and necessary to the negotiation of settlement agreements” involving any debt of the Venezuelan government, its state-owned energy company Petroleos de Venezuela, S.A., or any entity PdVSA owns 50% or more.
Cryptocurrency trading platform Poloniex reached a $7.5 million settlement with the Office of Foreign Assets Control this week to resolve allegations that it violated U.S. sanctions. The Delaware-based company allowed customers in sanctioned jurisdictions to trade, deposit and withdraw digital assets worth a combined $15 million, OFAC said, adding that Poloniex didn’t voluntarily disclose the alleged violations.
The Spanish government found no evidence in an initial inquiry to justify claims that the country imported Russian diesel in violation of sanctions, said Teresa Ribera, Spain's energy minister, Bloomberg reported April 28. The nation's largest oil refiner, Repsol, complained that several tankers recently imported fuel via North Africa and Turkey in violation of restrictions on Russia. While the inquiry's initial findings did not find any trace of sanctions violations, the government will continue looking into the matter, Ribera said.
Switzerland adopted the U.N.'s humanitarian exemption to the international body's sanctions regimes on April 26. The exemption, which U.N. Security Council introduced in December, provides that certain humanitarian entities can engage in payments, services or ship goods involving sanctioned parties "to meet basic human needs," the Swiss Federal Council said.
The U.K. last week added two entries to its ISIL (Da'esh) and al-Qaida sanctions regime, aligning its list with recent changes made by the U.N. Security Council (see 2304270019). The two new entries are Maulawi Rajab, senior leader of the Islamic State in Iraq and the Levant in Khorasan, and Sultan Aziz Azam, its spokesperson.
The EU and Taiwan wrapped up their second Trade and Investment Dialogue April 28, at which they discussed "horizontal strategic trade issues and bilateral concerns," the EU's Directorate-General for Trade said. The parties discussed work that has taken place since the last dialogue on export controls, direct investment screening, semiconductors and research and innovation, and agreed to "pursue their engagement in all these areas." Both sides also agreed to continue cooperating to align their Russian sanctions regimes and prevent circumvention of the restrictions. The EU and Taiwan "agreed to engage in expert discussions on digital trade facilitation measures such as e-invoicing and e-signature, with a view to lowering transaction costs and increasing economic efficiency" for businesses on both sides.
U.S. semiconductor company KLA “received clarification” from the U.S. government on matters surrounding chip export controls on China and can “now resume some shipments that we had previously excluded,” the company said as part of its latest earnings report released last week.
Canada recently proposed “significant changes” to its sanctions laws -- featuring a new 50% rule similar to the U.S. Treasury Department's -- that could change how companies conduct sanctions due diligence, including on Russia, law firms said this month. The firms said companies may need to review and update their due diligence processes to better identify beneficial owners but warned the proposed laws could make that process exponentially more challenging.