Despite more scrutiny from the U.S., Chinese foreign direct investment in North America grew by almost half in 2020 compared to 2019, according to an April 19 Baker McKenzie report. But trade and investment experts cautioned industry about placing too much stock in those numbers, saying two-way U.S.-China investment remains “very low” and Chinese firms are still wary about gaining approval from the Committee on Foreign Investment in the U.S.
Four Republicans senators reintroduced a bill last week that would require that the executive branch impose sanctions on foreigners responsible for taking U.S. hostages, even if those responsible are government officials. It also creates a mechanism for Congress to require that an administration open a review if a government official was responsible for a hostage taking, and therefore, must be covered by the sanctions. The bill was sponsored by Sen. Tom Cotton, R-Ark., Sen. Ted Cruz, R-Texas, Sen. Todd Young, R-Ind. and Sen. Rick Scott, R-Fla., and introduced April 16. Hawley and Cotton sponsored another bill, called the Global Hostages Act, in 2019 that did not move in committee. Although it is called the Global Hostage Act, it would also apply to politically motivated harassment, abuse, extortion or arrests of American citizens and permanent residents, not just imprisonment or detainment.
Sen. Chris Van Hollen, D-Md., and Sen. Roy Blunt, R-Mo., are promoting a bill they say should guide government investments in advanced manufacturing or industrial research, and should be a companion to the Endless Frontier Act. The National Strategy to Ensure American Leadership (SEAL) Act would ask the National Academies of Science, Engineering and Medicine to identify which technologies will be the critical ones in the next five to 10 years, where if the U.S. is not a strong player, it could hurt the economy.
The European Union expanded sanctions on Myanmar to include an additional 10 individuals and two military-controlled companies. The European Council added Myanmar Economic Holdings Public Co. Ltd. and Myanmar Economic Corp. Ltd. for their role in the Feb. 1 coup and subsequent repression “undermining democracy and the rule of law” in Myanmar, an April 19 news release said. The listed individuals, as published in the council decision, are Mahn Nyein Muang, Thein Nynt, Khin Maung Swe, Aye Nu Sein, Jeng Phang Naw Htaung, Maung Ha, Sai Long Hseng, Saw Daniel, Banyar Aung Moe and U Chit Naing. Sanctions are now placed on 35 individuals and two companies with all listed parties subject to an asset freeze and a travel ban.
The United Nations Security Council renewed its restrictions on Libyan petroleum products and extended the mandate for the panel of experts that oversees Libyan sanctions and embargoes, it said in an April 16 news release. The council unanimously voted to extend the restrictions on the “illicit export of crude oil and other petroleum products” from Libya until July 30, 2022, and extended the mandate of the panel of experts until Aug. 15, 2022. It also called on member states to continue complying with the U.N. arms embargo against the country. The council last year extended a measure to allow member states to inspect certain vessels for violating the Libyan arms embargo (see 2006080013).
The Office of Foreign Assets Control will revoke a Belarus-related general license that authorizes certain transactions with nine sanctioned state-owned entities, OFAC and the State Department said April 19. OFAC issued Belarus General License 2H, replacing License 2G (see 1910220027), which authorizes a 45-day wind-down period for transactions with those entities and any entities in which they own at least 50%. The wind-down period will end 12:01 a.m. June 3.
The Office of Foreign Assets Control fined an Oklahoma steel manufacturer about $435,000 for violating U.S. sanctions against Iran, OFAC said April 19. Alliance Steel committed 61 sanctions violation by maintaining a “business relationship” with an Iranian company for five years, OFAC said.
Congress should codify regulations from a November executive order that imposed investment bans on certain Chinese companies with ties to the military, said Matt Pottinger, a former deputy national security adviser during the Trump administration. He also said the U.S. should take a stricter stance on export licenses involving semiconductor shipments as China tries to become the world’s “only” supplier of advanced technologies.
The European Council will provide 1.37 million euros in new funding for implementation of the Arms Trade Treaty, the body announced in an April 16 news release. The additional funding will be to assist treaty signees with their national arms export control systems, the release detailed. EU support will be tailored to training local and regional ATT experts to foster greater implementation, creating a database to match implementation needs and resources, and building IT and communications systems to enable better cooperation between the ATT points of contacts for member countries and the ATT Secretariat, the EC said.
The Bureau of Industry and Security fined a Maryland company and its owner $42,000 for illegally exporting crime control items, BIS said in an April 15 order. The agency said Panther Trading Company (PTC) of Landsdowne and its owner, Harsimran Singh, illegally exported $11,000 worth of crime control equipment to Mexico, $22,000 worth of goods to the Dominican Republic and helped a Nigerian buyer buy $12,343 worth of goods.