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The inaugural trilateral meeting among the Finance Ministers of Japan, the Republic of Korea, and the United States took place in Washington, DC, furthering discussions from last August's Trilateral Leaders’ Summit at Camp David.
The ministers committed to promoting sustainable economic growth and financial stability through open and fair economic practices, while also addressing the volatility in foreign exchange markets, particularly concerning the depreciation of the Japanese yen and the Korean won.
Treasury’s Office of Foreign Assets Control (OFAC) is taking sweeping actions against several actors involved in Iran’s unmanned aerial vehicle (UAV) program, suppliers and customers of one of Iran’s largest steel producers, and Iranian automobile companies with connections to U.S.-designated entities Islamic Revolutionary Guard Corps (IRGC) and the Ministry of Defense and Armed Forces Logistics (MODAFL).
The State Departemnt designated four entities pursuant to Executive Order 13382, which targets proliferators of weapons of mass destruction and their means of delivery.
These entities – three based in the People’s Republic of China and one in Belarus – have supplied missile‐applicable items to Pakistan’s ballistic missile programs, including its long-range missile program.
The Commerce Department's Bureau of Industry and Security (BIS) published an interim final rule significantly reducing licensing requirements for Australia and the United Kingdom (UK) to foster defense trade and technological innovation.
BIS is removing Commerce Control List (CCL) license requirements to allow Commerce-controlled military items, missile technology-related items, and hot section engine-related items to be exported or reexported to Australia and the UK without a license. Similar relaxation by the State Department on ITAR controlled technology can be expected "over the course of the next 120 days," according to a statement.
Effective April 18th, a new rule from BIS amends the EAR to impose new controls restricting Iran’s access to additional low-level technology, including items manufactured outside the United States that are produced using U.S. technology.
The rule also expands the scope of the Russia/Belarus/Temporarily occupied Crimea region of Ukraine Foreign Direct Product (FDP) rule and the Iran FDP rule: the items in supplement no. 7 to part 746 will now include the entirety of the ‘Common High Priority List’ (CHPL).
In an effort to further isolate the Russian and Belarus military-industrial complex, the U.S. Treasury’s Office of Foreign Assets Control (OFAC) is designating 12 entities and 10 individuals pursuant to Executive Order (E.O.) 14038,
The individuals and entities OFAC is targeting include six revenue-generating state-owned enterprises (SOEs) and one entity and five individuals involved in facilitating transactions for a U.S.-designated major Belarusian defense sector enterprise.
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