The Bureau of Industry and Security is looking to move forward with its May proposal for new export controls over four dual-use biological toxins (see 2205200017). The agency on Aug. 17 sent a final rule for interagency review that would implement the controls, which would apply to the marine toxins brevetoxin, gonyautoxin, nodularin and palytoxin. BIS said the toxins can be exploited for biological weapons purposes and the controls were proposed in May as unilateral restrictions because the Australia Group hadn't yet agreed to the controls. The agency received two public comments on the controls (see 2207190014).
China this week imposed sanctions against a group of Taiwan officials and lawmakers who have advocated for independence, according to an unofficial translation of an Aug. 16 notice. The sanctions target people who have tried to “interfere in the process of reunification of” Taiwan with the “motherland,” China said. Among those designated were Hsiao Bi-khim, Taiwan's de facto ambassador to the U.S.; Wellington Koo, secretary-general of Taiwan's National Security Council; and other politicians from Taiwan's in-power Democratic Progressive Party, Reuters reported.
The mass exodus of western companies from Russia caused by sanctions are “catastrophically crippling the Russian economy” and have “irrevocably” damaged the country’s position as a global commodity exporter, the Yale Chief Executive Leadership Institute said in a recent report. The report also said Russia’s imports have “largely collapsed” as the country faces challenges procuring “crucial inputs, parts, and technology from hesitant trade partners,” which has led to broad domestic supply shortages. The country’s production also has “come to a complete standstill with no capacity to replace lost businesses, products and talent,” the report said. “Looking ahead, there is no path out of economic oblivion for Russia as long as the allied countries remain unified in maintaining and increasing sanctions pressure against Russia.”
Canada has frozen more than $120 million worth of assets and blocked more than $290 million worth of transactions related to Russia since Moscow’s invasion of Ukraine in February, the country said this week. Canada said the assets were either owned or controlled by a person designated under its Russia sanctions. The country said it “continues to receive new information” about new assets or transactions that could be subject to sanctions.
The U.K. recently released a report on strategic export controls developments during 2021, detailing its export licensing data, efforts to conduct industry outreach, and information on compliance, enforcement, case studies and more. The U.K. said it processed about 16,400 individual export licenses during 2021 -- rejecting 245 of them -- and completed 69% of them within 20 working days, an increase from the 62% it completed during the same time frame in 2020 but a decrease from the 77% it completed in 2019. It also said it “continues to operate one of the most transparent licensing regimes in the world, publishing information on all licenses issued, refused or revoked.”
The Bureau of Industry and Security this week issued a new set of frequently asked questions covering the Entity List, Russia-related export controls and Russia-related sanctions evasion.
China and Russia this month held a meeting on economic and trade cooperation, at which the two sides discussed “developing bilateral trade,” according to an unofficial translation of a Chinese Ministry of Commerce notice. China-Russia trade has “maintained a sound growth” since the beginning of the year, the notice said, adding that the two countries should continue to “consolidate trade of key goods, strengthen economic cooperation and trade between small and medium-sized enterprises and local regions,” and “deepen trade and investment facilitation.” The meeting comes as much of the Western world, including the U.S. and the European Union, imposes sanctions and other trade restrictions against Russia for its invasion of Ukraine.
The U.K.’s Office of Financial Sanctions Implementation this week published a webinar on sanctions reporting obligations. The webinar outlines new reporting obligations for crypto asset businesses, including what firms may be affected, various U.K sanctions definitions and penalties for violators.
The U.K.’s Office of Financial Sanctions Implementation this week issued a new general license to allow certain transactions related to energy use in Mongolia. The license will allow certain payments to certain sanctioned banks -- including the Credit Bank of Moscow, Gazprombank, Sberbank and Rosbank -- or their subsidiaries “for the purpose of making energy available” in Mongolia. The license took effect Aug. 15 and will expire Aug. 14, 2023.
The Office of Foreign Assets Control published in the Federal Register a group of previously issued general licenses, including one set of licenses covering sanctions against Russia and two sets of licenses related to Venezuela. The full text of each license appears in the respective notice.