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ARTICLE · 21 FEBRUARY 2022

OFAC Issues Chinese Military-Industrial Complex Sanctions Regulations

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OFAC issued new regulations related to investments in companies linked to China's military and security services, and amended the Weapons of Mass Destruction Proliferators Sanctions Regulations.

United StatesFinance and Banking
Hogan Lovells Cadwalader
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OFAC issued new regulations related to investments in companies linked to China's military and security services, and amended the Weapons of Mass Destruction Proliferators Sanctions Regulations.

The final rule will implement Executive Order ("EO") 13959 (as amended by EO 4032), which relates to securities investments that finance identified Chinese companies connected to China's military-industrial complex. The new regulations became effective upon their publication in the Federal Register on February 16, 2022.

OFAC also amended the Weapons of Mass Destruction Proliferators Sanctions Regulations. The final rule amends certain requirements related to the provision of legal services to sanctioned persons. Among other things, OFAC removes specific licensing requirements for covered payments, and authorized certain payments from funds originating outside of the United States. These amendments bring the Weapons of Mass Destruction Proliferators Sanctions Regulations

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