In an effort to spur readiness in the west's inadequate icebreaker fleet, the polar states of Canada, the US and Finland have agreed to pool resources and expertise . The operational USCG polar fleet currently includes one heavy icebreaker commissioned in 1976 and one medium icebreaker commissioned in 2000. Russia's Atomflot operates a fleet of seven nuclear icebreakers, with a further five under construction or planned.
The Export-Import Bank of the United States (EXIM) commemorated its 90th anniversary with substantial growth, announcing $8.4 billion in authorized deals for Fiscal Year 2024, supporting "around 38,000 U.S. jobs," according to a statement. The terms of Ms. Lewis, Vice Chair Judith Pryor and Board Member Owen Herrnstadt expire January 20, 2025. These three seats, plus one vacancy must be filled by the president, with the consent of the Senate, The term of former Alabama Congressman Spencer Bachus ends in 2027.
Commerce’s Bureau of Industry and Security (BIS) Export Enforcement published an updated version of Don’t Let This Happen to You!, a compendium of case examples highlighting BIS criminal and administrative enforcement efforts. The publication was last updated in July 2024.
The Department of the Treasury’s Office of Foreign Assets Control (OFAC) has issued a final rule amending the Burma Sanctions Regulations to more fully implement the directives of Executive …
The proposed rule aims to prevent foreign adversaries from gaining access to sensitive personal data through various commercial transactions, such as data sales, employment agreements, or investments. To enforce the new regulations, the proposed rule includes mechanisms for issuing licenses for otherwise prohibited transactions under strict conditions. It also sets up a compliance regime to ensure adherence to the rules, with provisions for recordkeeping and reporting to support DOJ investigations.
A change of regime in Washington may change the degree of sanctions pressure on Russian Arctic gas projects, though the ultimate decider remains the economics. With the White House encouraging production and exports of domestic LNG, the incentives to make it easier for the Moscow regime to sell their gas may not be that pronounced. Russia's Arctic LNG 2 project, spearheaded by Novatek, seeks to export nearly 20 million tons of liquefied natural gas annually to Europe and Asia. Strategically located on the Gydan Peninsula, it aims to leverage the Northern Sea Route to cut transit times. However, Western sanctions, particularly under the Biden administration, have constrained Russia’s ability to capitalize on its Arctic resources by limiting access to technology and financing.
Telefónica Venezolana C.A. a Venezuela-based subsidiary of Telefónica S.A. a publicly traded global telecommunications operator based in Spain, will pay over $85.2 million to resolve an investigation by the Justice Department into a scheme to bribe government officials in Venezuela to receive preferential access to U.S. dollars in a currency auction. Telefónica Venezolana entered into a deferred prosecution agreement (DPA) in connection with a criminal information filed today in the Southern District of New York charging the company with conspiracy to violate the anti-bribery provisions of the Foreign Corrupt Practices Act (FCPA).
A Turkish National was arrested for his involvement in a complex scheme to violate and evade U.S. sanctions related to petroleum products from Venezuela and Iran.. The scheme included obfuscating the identities of tankers moving the oil by re-naming and re-flagging vessels, covering vessel names with paint or blankets, and turning off the electronics that track vessels’ locations for the safety of ships and their crews
Former President Donald Trump’s decisive victory in his bid to win a second term creates both uncertainty and opportunity for US trade policy, according to analysts and experts. Speculation is rampant on the outcomes for Tariffs, FTAs, Climate Policy and The WTO along with fresh scrutiny of AML/CFT regulation and Nuclear proliferation.
On November the 25th, governments from across the world will meet in Busan, South Korea, for INC-5, the final stage of negotiations for a Global Plastics Treaty. This session aims to finalize an international legally binding instrument addressing plastic pollution, encompassing the entire lifecycle of plastics.
Major changes are likely next year when Republicans take control of the Senate, especially on the Senate Finance Committee. Sen. Mike Crapo ®-Idaho) is next in line to chair Finance, replacing current Chairman Ron Wyden (D-Ore). There will be new faces on the committee, as well, given that Republicans will gain seats. In addition, some of the panel’s senior Democrats will be missing. Sens. Debbie Stabenow (D-Mich), Tom Carper (D-Del) and Ben Cardin (D-Md) are retiring at the end of this Congress. Sen. Sherrod Brown (D-Ohio) lost his bid for reelection.
House China Hawks wrote letters Friday to industry leaders in semiconductor manufacturing equipment (SME), regarding their businesses' sales to the People’s Republic of China (PRC). "The …
Former US Trade Representative Robert Lighthizer has been asked to return to the position in the coming Trump Administration reboot, according to reports in the Financial Times. A former attorney for domestic steelmakers, Lighthizer recently wrote in the Wall Street Journal that a return to the mercantilist policies of the 19th centrury are appropriate for today:
amestown Foundation released a report detailing how the Chinese Communist Party (CCP) has repurposed Meta’s “Llama” model—an open-source AI tool originally developed to …
OFAC imposied sanctions today on one entity and one individual that form part of Republika Srpska (RS) President Milorad Dodik’s patronage network. The U.S. government previously designated President Dodik for using his official position to accumulate personal wealth through companies connected to himself and his son, Igor Dodik.
Canada has issued an order mandating TikTok Technology Canada, the Canadian arm of TikTok’s parent company, ByteDance Ltd., to dissolve its operations in the country. In a formal statement, the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, cited a “multi-step national security review” conducted with the input of Canada’s national security and intelligence community as the basis for the decision.
Fast moving regulatory changes call for timely updates. As your November print edition is being processed, please see what's coming. Any trouble accessing your account, please email info@traderegs.com or call SMS 703.283.5220
The Committee on Foreign Investment in the United States (CFIUS) continues to aggressively utilize and expand its authority to address national security risks related to foreign investment into the United States.
The regulators responsible for drafting the biggest rulemaking changes to space-related export controls briefed stakeholders on the initiative,, addressed some initial questions, and urged engagement through comments as the rules are finalized. The November 6 presentation included officials from the State Department, Commerce and NASA who shared their perspectives on their remits. The event finished with a review of some questions submitted by stakeholders.
House Foreign Affairs Committee Chairman Michael McCaul sent a letter to Under Secretary of Commerce for Industry and Security Alan Estevez expressing his frustration regarding the Bureau of Industry and Security’s (BIS) "overall aversion to enforcing export controls against China’s semiconductor industry, including Huawei and Semiconductor Manufacturing International Corporation (SMIC)." "It is irreconcilable that only SMIC’s most advanced production line (SMIC South) has a presumption of denial licensing policy, whereas the rest of its corporate network faces little to no restrictions."