The Office of Foreign Assets Control on Aug. 6 added five people to its Specially Designated Nationals List for counter-terrorism reasons. The people are: Abdikadir Mohamed Abdikadir, Salem ould Breihmatt, Sidan Ag Hitta, Bonomade Machude Omar and Ali Mohamed Rage. The people have connections to Somalia, Mozambique, Mauritania and Mali. OFAC didn’t immediately provide more information on the designations.
President Joe Biden extended for one year a national emergency that authorizes certain U.S. export control authorities, the White House said Aug. 6. The authorization allows the U.S. to continue to carry out provisions in the Export Control Reform Act, along with other regulations. The emergency would have ended Aug. 17.
The United Kingdom's Economic Secretary to the Treasury upheld an Office of Financial Sanctions Implementation penalty on TransferGo Limited for violating the U.K.'s sanctions in response to the annexation of Crimea by Russia. TransferGo, a money transfer company, was penalized for allowing payments to accounts at the sanctioned Russian National Commercial Bank between March 2018 and December 2019. The penalty of over $69,000 was sustained following a June review of the Policing and Crime Act 2017.
Australia plans to revise its sanctions laws to allow increased punishments for weapons proliferation, human rights violations, malicious cyber activity and corruption, Foreign Affairs Minister Marise Payne said Aug. 5. The sanctions will “expand upon Australia’s current country-based autonomous sanctions framework,” Payne said, adding that Australia plans to introduce amendments to the Autonomous Sanctions Act 2011 to “achieve these important reforms” by the end of the year. “Once the types of conduct are established, Australia will have the ability to impose targeted financial sanctions and travel bans against individuals and entities determined to be involved in such sanctionable conduct wherever it occurs, without having to establish specific country-based regimes,” Payne said.
The U.S. needs to expand export and investment restrictions to prevent China from acquiring advanced semiconductor equipment and other sensitive technologies, former national security officials told Congress this week. One official specifically said the Commerce Department’s Bureau of Industry and Security should impose export controls more actively. Another said the Committee on Foreign Investment in the U.S. needs more resources.
Gregg Sofer, former U.S. attorney for the Western District of Texas, joined Husch Blackwell in its White Collar, Internal Investigations and Compliance practice group, the firm announced Aug. 2. Sofer has a background in national security law, including experience in export controls, sanctions, trade secrets and regulatory compliance, the release said.
Himamauli Das, a former Treasury Department and National Security Council official, will serve as the new acting director of the Financial Crimes Enforcement Network, the agency announced Aug. 3. Das will take over from acting director Michael Mosier, who plans to leave the agency at the end of the week. Treasury also said it officially began its search for a permanent FinCEN director.
Companies seeking to implement global export compliance procedures should be careful to not base their compliance program on only U.S. regulations, especially as more countries introduce export control regimes, industry officials said. New export control regimes in the European Union (see 2105100013), the Philippines and other regions could create compliance challenges and add to resource constraints for global companies if not properly managed, they said.
China raised export tariffs on certain steel products and canceled export tax rebates for others in a bid to control domestic supply, the country's finance ministry said. The measures, which took effect Aug. 1, will raise export tariffs on ferrochrome from 20% to 40% and tariffs on pig iron from 15% to 20% while eliminating export rebates on 23 types of steel products, Xinhua, China’s state-run news agency, reported July 29. Those 23 steel products include “flat-rolled products of iron or non-alloy steel,” “natural Seamless casing and pipe for gas,” “plated or zinc-coated ordinary steel sheet” and more, a finance ministry document said, according to an unofficial translation.
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