On April 24, 2024, President Biden signed into law a national security package (H.R. 815) that includes the 21st Century Peace through Strength Act, the fourth pillar of a broader foreign aid package to assist Israel, Ukraine, and the Indo-Pacific. The law contains numerous sanctions and trade-related provisions. In this blog post, we are summarizing the provisions that are most relevant to multinational companies seeking to comply with applicable trade rules and mitigate risks, which…
On December 17, 2020, the US Department of Energy (“DOE”) issued a “Prohibition Order Securing Critical Defense Facilities“ (the “Prohibition Order”) pursuant to authority granted to the Secretary of Energy by Executive Order 13920 (the “BPS EO“). As of January 16, 2021, the Prohibition Order prohibits certain electric utilities that serve certain defense facilities from acquiring, importing, transferring, or installing identified bulk-power system (“BPS”) equipment and related software produced or supplied by entities subject to…
With global foreign investment scrutiny on the rise, not least in the current COVID-19 environment, staying fully informed and ahead of the curve has never been more important. For the latest developments and updates, please visit our new Foreign Investment and National Security blog (see here). This blog will keep users up-to-date in respect of global foreign investment review and national security trends and issues, informing you about the legal and business risks impacting your next…
On September 15, 2020, the Treasury Department published the anticipated final rule modifying the scope of the critical technology filing requirement under the regulations of the Committee on Foreign Investment in the United States (“CFIUS”). The final rule tracks the proposed rule issued on May 21, 2020 in aligning more closely filing requirements for foreign investments with export licensing requirements. Effective October 15, 2020, filings will be mandatory for foreign investments in US critical technology…