Even if the Trump administration were to lift U.S. sanctions against Russia, the country would still be “uninvestable” for multinational companies because of the EU’s trade and financial restrictions, which would likely remain in place, said Janis Kluge of the German Institute for International and Security Affairs.
President Donald Trump has ordered the Committee on Foreign Investment in the U.S. to carry out a 45-day review of Japan-based Nippon Steel Corp.’s proposal to purchase U.S. Steel, months after former President Joe Biden blocked the deal (see 2501060040).
The U.K. Office of Financial Sanctions Implementation released a threat assessment about possible sanctions violations by legal services providers, noting that since February 2022, the legal services sector has accounted for the second-highest number of suspected breach report submissions to OFSI. Legal services accounts for 16% of all submissions, behind first-place financial services with 65% of submissions.
Singapore said it’s boosting enforcement against companies that may be using the country to circumvent foreign nations’ export controls on advanced chips, warning businesses that it may take legal action or impose other penalties.
Multiple countries this week objected to President Donald Trump’s April 2 announcement of new reciprocal tariffs against trading partners (see 2504020072), saying they either plan to retaliate or are assessing how to respond.
Members of the Bureau of Industry and Security's Materials and Equipment Technical Advisory Committee were asked during their April 3 meeting to sign or re-sign non-disclosure agreements as Trump administration officials review how the TACs operate.
The Bureau of Industry and Security this week revoked the export privileges of a Kenya-based company and two people for trying to illegally export airplane parts from the U.S. to Russia, including by lying to American freight forwarders and other businesses about where the parts would be sent. It also warned that the company and people are continuing to try to illegally buy export controlled parts from American businesses.
The Trump administration should reverse a planned $20 million funding cut for the Bureau of Industry and Security, which will hamper the agency’s ability to enforce export controls and weaken American technology competitiveness, a tech policy non-profit said this week.
The Bureau of Industry and Security reinstated a pause on export license applications last week, four people with knowledge of the situation said, days after officials announced at the agency’s March update conference that licensing was expected to soon return to normal.
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