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 July 10, 2023, the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) reissued General License 40B, “Authorizing Certain Transactions Involving the Exportation or Reexportation of Liquefied Petroleum Gas to Venezuela” (“GL 40B”). GL 40B authorizes US persons to engage in transactions related to the exportation or reexportation, directly or indirectly, of liquefied petroleum gas (” LPG”) to Venezuela involving the Government of Venezuela (“GOV”), Petróleos de Venezuela, S.A. (” PdVSA”), any…
On June 16, 2023, the US Commerce Department published a final rule (“Final Rule”), implementing President Biden’s 2021 Executive Order 14034 on “Protecting Americans’ Sensitive Data from Foreign Adversaries,” to amend the Commerce Department’s “Securing the Information and Communications Technology Supply Chain” regulations, 15 C.F.R. Part 7 (“ICTS Regulations”). The amendments mainly relate to connected software applications. The Final Rule was issued in response to comments received to a notice of proposed rulemaking (“NPRM”) issued…
On May 4, 2023, the President Biden issued Executive Order 14098 (“EO 14098”) establishing a sanctions authority that authorizes the US Government to imposes sanctions on persons or entities in Sudan in connection with “the military’s seizure of power in October 2021 and the outbreak of inter-service fighting in April 2023.” While no sanctions have been imposed under EO 14098 to date, this new Sudan sanctions authority authorizes the US Government to issue asset blocking…