On October 30, 2023, the U.S. Supreme Court declined to hear another Section 232 national security steel tariff appeal. On July 21, 2023, PrimeSource Building Products, Inc. filed Petition for a Writ of Certiorari with the U.S. Supreme Court, after the U.S. Court of Appeals for the Federal Circuit reversed the lower court decision of
October 2023
CHIPS Incentives Program – Notice of Funding Opportunity for Facilities for Semiconductor Materials and Manufacturing Equipment
By Francesca M.S. Guerrero on
- On September 29, 2023, the United States Department of Commerce launched a new funding opportunity for projects involving the construction, expansion, or modernization of semiconductor materials and semiconductor manufacturing equipment facilities under the CHIPS Act of 2022.
- Projects within scope are expected to involve a complete capital investment range between $20 million and $300
OFAC Again Extends Russia-Related General License No. 8 Regarding Transactions Related to Energy
On October 25, 2023, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued amended Russia-related General License No. 8H once again extending the authorization to conduct transactions involving Vnesheconombank, Bank Financial Corporation Otkritie, Sovcombank, Sberbank, VTB Bank, Alfa-Bank, Rosbank, Bank Zenit, Bank Saint-Petersburg, and the Central Bank of Russia that are related…
OFAC Loosens Venezuela Sanctions, Authorizes Transactions Involving Oil and Gas, State-Owned Gold Mining Company, and Certain Debt and Equity of Venezuela and PdVSA
- For a period of six months, OFAC permits a wide range of transactions tied to Venezuela’s oil and gas sector, including new investments and financial dealings with specific Venezuelan banks.
- OFAC allows all forms of transactions with Minerven, the Venezuelan state-owned gold mining company, nullifying prior sanctions solely in this sector.
- OFAC lifted
BIS Adds 13 Chinese Companies to Entity List for Involvement in Developing Advanced Computing Chips
On October 17, 2023, the Department of Commerce’s Bureau of Industry and Security (BIS) issued a Final Rule adding two Chinese entities and their subsidiaries (a total of 13 entities) to the Entity List due to their involvement in the development of advanced computing chips and having been found to be engaged in activities contrary…
OFAC Sanctions Entities for Violations of Russian Oil Price Cap and Issues Price Cap Coalition Advisory
On October 12, 2023, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned two entities and identified as blocked property two vessels that used Price Cap Coalition service providers while carrying Russian crude oil above the Coalition-agreed price cap. See here for additional identifying information on these entities.
The United States is…
BIS Continues to Focus on and Sanction Entities Providing Support to Russia’s Military and Defense Industries
On October 6, 2023, the Department of Commerce’s Bureau of Industry and Security (BIS) added 49 entities from China, Estonia, Finland, Germany, India, Turkey, United Arab Emirates (UAE), and the United Kingdom to the Entity List after determining that these companies were “acting contrary to the national security or foreign policy interests of the United…