A bipartisian gropu of China hawks on Capitol Hill sent  sent a letter to MSCI's President Henry Fernandez outlining "significant concerns" after the firm removed its forced labor red flag for Volkswagen's factory in China. The Volkswagen factory in Xinjiang is known for using Uyghur forced labor, This led MSCI, an American finance company, to grant Volkswagen a “red flag” rating in 2022.  However, MSCI , relying on an audit the lawmakers describe as "flawed," made the decision to lift Volkswagen’s “red flag” rating. 

The US Export-Import Bank has failed to make an impact on trade and investment in sub-Saharan Africa, despite a congressional mandate for expansion and extensive overseas travel by EXIM President and Chair of the Board of Directors, Reta Jo Lewis.

In a statement released May 31,  CBP Acting Commissioner Troy Miller addressed  the Bureau's efforts to "Enhance Enforcement and Prevent Exploitation in the De Minimis Environment."  "While the majority of brokers, carriers, and supply chain businesses that participate in CBP’s Entry Type 86 Test are compliant with applicable laws, we are enhancing our enforcement efforts to ensure that all participants are held accountable when they are not," he said.

In an Opinion piece published in The Financial Times, Deputy Treasury Secretary Adeyemo continued his call for more diligence on the part of allies, industry and the banking community. "It is important to recognise that the success of our sanctions and export controls is only possible because of a partnership with the private sector. Companies have already done a great deal to help us constrain the Kremlin’s access to goods, but we need them to do more." Mr. Adeyemo said he was not faulting U.S. manufacturers and banks as complicit in Russia's efforts to evade sanctions. "Every time I talk to a major CEO, they ask me what more can they do?

U.S. Customs and Border Protection (CBP) is renewing the Automated Commercial Environment (ACE) Export Manifest for Vessel Cargo Test, a National Customs Automation Program (NCAP) test concerning ACE export manifest capability. The ACE Export Manifest for Vessel Cargo Test is a voluntary test in which participants agree to submit export manifest data to U.S. Customs and Border Protection (CBP) electronically at least twenty-four hours prior to loading of the cargo onto the vessel in preparation for departure from the United States.

The Ninth annual Nordic-Baltic + U.S. Cyber Consultation (NB8 + U.S.) met in Tallinn, Estonia on May 28. U.S. Deputy Assistant Secretary of State for International Cyberspace Security Liesyl Franz led the U.S. delegation and advocated the United States’ International Cyberspace and Digital Policy Strategy.

The Department of State is publicly designating five current and former Ugandan officials for their involvement in significant corruption or gross violations of human rights. Included in the action are the Speaker of Parliament, Former Minister of Karamoja Affairs, former Minister of State for Karamoja Affairs, and the Minister of State for Finance. Additionally, the former Deputy Chief of the Ugandan Peoples’ Defence Forces is designated due to his involvement in gross violations of human rights

Treasury’s Office of Foreign Assets Control (OFAC) sanctioned two companies that are linked to the Private Military Company “Wagner” (Wagner Group). Mining Industries SARLU and Logistique Economique Etrangere SARLU are being designated pursuant to Executive Order (E.O.) 14024 for enabling Wagner Group security operations and Wagner Group-linked illicit mining endeavors in the Central African Republic (CAR).

The US Treasury is targeting four entities associated with OFAC-designated Rayan Roshd Afzar Company (RRA) that have procured critical parts for Iran’s unmanned aerial vehicle (UAV) program. Additionally, OFAC is targeting an Iranian executive of Iran Aviation Industries Organization (IAIO), a subsidiary of Iran’s Ministry of Defense and Armed Forces Logistics that oversees UAV manufacturers Iran Aircraft Manufacturing Industrial Company and Qods Aviation Industries.

A senior Treasury Department official called for European allies to line up in applying pressure to Beijing to cease supporting the Kremlin's war efforts.     Citing the Russian econmy's "war footing," Deputy Secretary of the Treasury Wally Adeyemo said "this war is not just an existential threat to Ukraine, but to Europe and our national security."

Twelve GOP lawmakers sent a letter to U.S. Treasury Secretary Janet Yellen calling on the Office of Foreign Assets Control and Financial Crimes Enforcement Network to investigate six People's Republic of China (PRC) companies, including two of the largest oil companies in the PRC. .The apparent intent is to discourage US investors from owning shares in the firms, several of which are included in East Asian Stock Indexes.

April's announced "enhanced" enforcement of small package imports threatens to bring certain e-commerce activities to a standstill. US Customs and Border Protection (CBP) is reportedly inspecting every single ecommerce shipment coming from mainland China by air freight.

A New Jersey-based airline exceutive pled guilty to participating in a money laundering conspiracy involving proceeds of heathcare fraud channeled through his employer's bank account.

China has announced export controls on certain equipment, software and technologies in key sectors ranging from aerospace to shipbuilding that matter to national security. Under the new policy, the controlled export products involve equipment and software in key industries, including aerospace structural components and engine manufacturing, gas turbine engine manufacturing, aerospace surface window-related equipment, and ultra-high molecular weight polyethylene fiber-related items, according to the notice.

The Council adopted May 30 a package of new anti-money-laundering rules that will protect EU citizens and the EU's financial system against money laundering and the financing of terrorism. With the new package, all rules applying to the private sector will be transferred to a new directly applicable regulation, while a directive will deal with the organisation of national competent authorities fighting against money laundering and countering the financing of terrorism (AML/CFT).

An indictment was unsealed in the Central District of California May 16 charging two Chinese nationals alleging they played leading roles in a scheme to launder proceeds from cryptocurrency investment scams. According to court documents, the conspirators allegedly managed an international syndicate that laundered proceeds of cryptocurrency investment scams, which are also known as “pig butchering.”

Treasury’s Office of Foreign Assets Control (OFAC) designated three individuals for their activities associated with the malicious botnet tied to the residential proxy service known as 911 S5. …

Animal and Plant Health Inspection Service, USDA,  is informing the public of another phase of the Federal Government’s enforcement schedule. The Food, Conservation, and Energy Act of 2008 amended the Lacey Act to provide, in part, that importers submit a declaration at the time of importation for certain plants and plant products.

Treasury's Office of Foreign Assets Control (OFAC) is amending the Cuban Assets Control Regulations (the “Regulations”) to further implement elements of the policy announced by the Administration on May 16, 2022, Cuban entrepreneurs' access to internet-based services and banking facilities are improved, while the restrictions on transactions with state-owned entities remain fully in force.

The United States has asked Mexico to review whether workers at the Volkswagen de México, S.A. de C.V. facility in Cuautlancingo, Puebla, are being denied their rights to freedom of …

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