Sanctions Top-5 for the week ending 25 June 2021

Here are five things that happened this week in the world of economic sanctions that I think you should know about.

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This week’s briefing covers the weeks ending 18 and 25 June 2021.

  1. US Customs and Border Protection (CBP) issued a Withhold Release Order against silica-based products (used in solar panels and electronics) made by Xinjiang-based Hoshine Silicon Industry and its subsidiaries. Meanwhile, the US Commerce Department’s Bureau of Industry and Security (BIS) added Hoshine and four other companies to the Entity List for allegedly “participating in the practice of, accepting, or utilizing forced labor involving Uyghurs and other Muslim minority groups” in China.

Comments

There was a lot of speculation about whether the Biden administration would target Hoshine and other key renewable energy suppliers in Xinjiang. The thinking was that placing restrictions on the companies could undermine efforts to partner with China on climate change. I’d say the White House calculated that American voters prefer getting tough on China over clean energy. According to a Commerce Department news release, BIS has added more than 50 companies to the Entity List in connection with the Xinjiang Province since October 2019. (For more, see this insightful article by Katrina Northrop on The Wire China about BIS’s use of the Entity List to target Xinjiang cotton production.)

How are companies reacting to the latest Myanmar sanctions? Join Gem Conn, Kevin Cahill, and me for a webinar hosted by Dow Jones Risk & Compliance on Wednesday, July 7, at 4:00 p.m. Hong Kong time. Click here for details and to register.

Check it out: The Centre for Financial Crime & Security Studies at the Royal United Services Institute (RUSI) is looking to hire a new Senior Research Fellow. Sanctions mavens apply within.

Like the Top-5? Contact me to talk about tailored sanctions briefings for your team. Did I miss something? Send me a message or comment on LinkedIn.

(The views expressed are my own and do not constitute legal advice. Photo from Vladislav Reshetnyak.)

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Nicholas Turner

US attorney in Hong Kong specializing in economic sanctions, financial crimes. Sign up for emails: http://eepurl.com/cVhTXf LinkedIn at: http://goo.gl/KX1jER