Teradyne, a Massachusetts-based supplier of semiconductor testing equipment, has reportedly pulled $1 billion of manufacturing equipment out of China in 2023 following export controls on advanced computing materials and semiconductors issued by the Bureau of Industry and Security in 2022 and 2023.
As the standoff in Congress on the budget threatens to shut down vast swaths of the federal government, we write to remind clients about how a federal government shutdown would affect international trade and investment.
On July 26, 2023, the Department of Justice ("DOJ"), the Department of Commerce's Bureau of Industry and Security ("BIS"), and the Department of the Treasury's Office of Foreign Assets Control.
Following an attempted revolt against Russian President Vladimir Putin in late June, the Department of the Treasury's Office of Foreign Asset Control ("OFAC") issued economic sanctions.
On June 20, 2023, the Department of the Treasury's Office of Foreign Assets Control (OFAC) announced an enforcement action against Swedbank Latvia AS, headquartered in Riga, Latvia (Swedbank Latvia or the Bank).