The Office of Foreign Assets Control Jan. 16 again extended a general license that continues to delay an exemption that would authorize certain transactions related to Petroleos de Venezuela, S.A. General License 5N, which replaced GL 5M, now authorizes certain transactions with PdVSA involving an 8.5% bond on or after April 16. The previous license was set to allow those transactions to occur on or after Jan. 18.
The State Department’s Directorate of Defense Trade Controls is seeking public comments on an information collection involving notices of “material change” to a DDTC-registered company. Any company making or marketing items controlled under the International Traffic in Arms Regulations and registered with DDTC must notify the agency “in the event of a change in registration information,” or if the company is a party to an ITAR-related merger, acquisition or divestiture, DDTC said. The agency said it needs this information “to ensure registration records are accurate and to determine whether the transaction is in compliance with the regulations.” Comments are due March 18.
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The EU should require member states to report Russia-related sanctions enforcement data, audit their sanctions implementation efforts and step up enforcement against violators, a think tank network said in a set of 11 policy recommendations for 2024. The group said implementation and enforcement of Russia sanctions “will be critical” this year.
The U.S. is likely to continue using export controls, investment restrictions and other economic policy tools against China this year, particularly as the upcoming presidential election draws closer, trade and economic policy experts said this week.
The House on Jan. 12 passed a bill aimed at helping the Treasury Department find terrorists, Russian oligarchs and corrupt government officials.
The House Select Committee on China has sent letters to the chief executives of U.S. chipmakers Intel, Nvidia and Micron Technology asking them to testify before the panel about the challenges their industry faces, a person close to the committee said Jan. 12, confirming a Financial Times report. A hearing date has not yet been determined, the person said.
India and the U.S. should aim for "economically meaningful outcomes" from better customs and trade facilitation, supply chain linkages, trade in high-tech products and trade in critical minerals between the two countries, India's commerce minister and U.S. Trade Representative Katherine Tai said in a joint statement.
The U.N. Security Council and the U.K. last week amended 14 entries under their ISIL (Da'Esh) and al-Qaida sanctions regimes. The changes affect the listings for 12 people and two entities, including to reflect that some are reportedly deceased. All entries remain subject to an asset freeze.
The Office of Foreign Assets Control last week removed sanctions for 9H-OKO, an aircraft that it had sanctioned in 2022 for being owned by Emperor Aviation, a Malta- and Russia-based aircraft management company. The agency didn’t provide more information about the removal.