On August 9, 2023, President Biden issued Executive Order 14105, targeting certain US investments into Chinese companies or Chinese-owned companies engaged in three advanced technology areas (Addressing United States Investments in Certain National Security Technologies and Products in Countries of Concern, the “EO”). The EO directs the US Department of the Treasury (“Treasury”) to issue regulations that will (1) prohibit certain categories of US outbound investments and (2) require notification of other investments involving the…
On September 2, 2022, the Group of 7 (“G7”) Finance Ministers issued a joint statement confirming their intention to implement a price cap for the purchase of Russian-origin crude oil and petroleum products. The statement says that G7 nations, along with other allies and partners, plan to prohibit the provision of services that enable maritime transportation of such products unless purchased at or below a price level determined by the coalition of countries adhering to…
On January 26, 2022, the US Departments of State, Treasury, Commerce, Labor, Homeland Security and the Office of the US Trade Representative (“USTR”) issued a joint advisory (the “Advisory”) cautioning businesses, financial institutions, investors, consultants, research service providers, etc. of the heightened risks associated with doing business in Burma/Myanmar, especially wherever the Myanmar military is involved. This is a continuation of US Government’s actions to address the situation in Myanmar. Please see our blog posts…
On November 10, 2021, the US Departments of State, Treasury, and Commerce issued a joint advisory (the “Advisory”) cautioning US companies operating in or considering operations in Cambodia to be conscious of dealings with entities and in sectors potentially involved in human rights abuses, criminal activities, and corrupt business practices. We describe the Advisory in additional detail below. On the same day the Advisory was issued, the Treasury Department’s Office of Foreign Assets Control (“OFAC”)…