The Department of the Treasury has proposed boosting the authorities of the Committee on Foreign Investment in the United States, which reviews foreign investment in U.S. businesses for national security concerns. In a proposed rulemaking notice released on Thursday, the department said the changes would help CFIUS accomplish its national security mission while supporting the...
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Tag: Department of the Treasury
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US Foreign Investment Committee Reports Record 2022 Filings
The Committee on Foreign Investment in the United States reviewed a total of 440 filings in 2022, compared with 436 in 2021. The Department of the Treasury, in a report it issued as CFIUS chair, said the record number of filings was based on the expanded export controls under FIRRMA, mandatory filings in some cases...
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Treasury Adds Four Russian Elites, Business Association to Sanctioned Entities
The Department of the Treasury has imposed sanctions on four members of the Russian elite and a Moscow-based business organization in relation to the ongoing war in Ukraine. The move will lead to the freezing of the sanctioned parties’ assets within the U.S., along with prohibiting all transactions involving their assets by U.S. individuals unless...
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US Sanctions Companies Over Connections to Russia-North Korea Arms Deal
The Department of the Treasury has slapped sanctions on three entities that it said were tied to arms trading between Russia and North Korea. In a notice issued on Wednesday, the department’s Office of Foreign Assets Control designated Limited Liability Company Verus, Versor S.R.O. and Defense Engineering Limited Liability Partnership pursuant to Executive Order 13551,...
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US Expands Sanctions Against Military-Run Myanmar, Adds Jet Fuel Supply Curbs
The U.S. Department of the Treasury has announced sanctions against companies and individuals helping the jet fuel procurement of Myanmar’s military junta on the back of reports that it has been launching deadly airstrikes on civilian crowds. The sanctions issued Wednesday by the department’s Office of Foreign Assets Control named Shoon Energy Pte Ltd, PEI Energy...
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US Sanctions Fundraisers of North Korea Weapons Program
The United States has added to its sanctions list two individuals and one Russian company for their involvement in generating funds for North Korea’s development of weapons of mass destruction and ballistic missiles. The Department of the Treasury’s Office of Foreign Assets Control imposed the sanctions on Moscow-based company Intellekt, Russian national Sergey Mikhaylovich Kozlov...
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US Adds Entities to Sanctions List Over Connections to Iranian UAV Program
The U.S. government has sanctioned five entities and two individuals from Iran, China, Hong Kong, Turkey and the United Arab Emirates for their involvement in supplying parts Iran requires for its one-way attack drones. In its announcement Wednesday, the Department of the Treasury Office of Foreign Assets Control identified the designated organizations as: Pishgam Electronic...
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US, UAE to Address Increasing Cyber, Ransomware Attacks Through Enhanced Collaboration
The United States has signed an agreement with the United Arab Emirates to tackle increasing cyber and ransomware attacks through enhanced cyber collaboration. The deal was announced during a meeting between Todd Conklin, the Department of the Treasury’s deputy assistant secretary for the Office of Cybersecurity and Critical Infrastructure Protection, and Mohamad Al Kuwaiti, chief...
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US Issues New Sanctions on Entities Associated With North Korea
The Department of the Treasury has issued new sanctions against foreign-based agents of North Korea, officially the Democratic People’s Republic of Korea. According to the Treasury’s Office of Foreign Assets Control, Green Pine is responsible for about half of the North’s arms and related materiel exports. Green Pine is controlled by the DPRK’s Reconnaissance General Bureau. It...
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US Imposes New Round of Sanctions on Russian Federation Procurement Agent
The Department of the Treasury’s Office of Foreign Assets Control has imposed new sanctions on a Belgian businessman and his companies for the export of electronics in support of the Russian military. According to OFAC, Hans De Geetere serves as a director of several companies in Belgium, Cyprus and the Netherlands. He is a long-time...