China s CNOOC in LNG Bunker Supply Deal shipandbunker.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from shipandbunker.com Daily Mail and Mail on Sunday newspapers.
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Rounding out an already-intense 2020, the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) issued three notices in December that expanded export sanctions and restrictions against Chinese, Russian, and other enterprises and institutions accused of engaging in activities contrary to U.S. interests. On December 18, BIS announced export sanctions against Semiconductor Manufacturing International Corporation (“SMIC”), the largest semiconductor producer in the People’s Republic of China (“PRC”), along with 76 other entities, the vast majority of which are PRC enterprises and research institutes. On December 23, BIS created a new Military End User (“MEU”) List that designates specific PRC and Russian entities for more stringent export licensing requirements under the MEU rule expanded by BIS earlier in the year. Finally, also on December 23, BIS officially terminated Hong Kong’s s
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The United States continues to tighten controls on the People’s Republic of China. In this article we address three regulatory changes that highlight the need for enhanced due diligence when dealing with China: 1) restrictions on recent additions to the Entity List; 2) controls on military end-uses and military end-users; and 3) elimination of Hong Kong as a separate destination under the Export Administration Regulations (EAR).
Entity List
On December 22, 2020, the Bureau of Industry and Security (BIS) added 59 Chinese entities to the Entity List, thereby expanding the licensing requirements on export transactions with these entities. See Notice at 85 Fed. Reg. 83416. The additions to the Entity List are the result of the collective determination by the Departments of Commerce, State, Defense, Energy, and where appropriate, the Treasury (collectively, the “End-User Review Committee”) that these entities are engagi
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December 18, 2020 – On December 18, 2020,
the U.S. Department of Commerce, Bureau of Industry and Security
( BIS ) released a final rule that would add 77 new entities,
including Semiconductor Manufacturing International Corporation
Incorporated ( SMIC ), to the Entity List. All of the
newly added entities are subject to a license requirement for all
items subject to the Export Administration Regulations
( EAR ), even though some entities are subject to
different license review policies. Consistent with BIS s
clarification of the Entity List licensing requirements from
earlier this year, the license requirement will apply whenever any
US maximizes sanctions pressure on China with Entity Listing of 59 Chinese entities lexology.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lexology.com Daily Mail and Mail on Sunday newspapers.