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ARTICLE · 17 FEBRUARY 2022

OFAC Issues Chinese Military-Industrial Complex Sanctions Regulations

Thompson Hine LLP
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On February 16, 2022, the Department of the Treasury's Office of Foreign Assets Control (OFAC) published in the Federal Register a final rule adding formal regulations to ...

United StatesInternational Law
Scott E. Diamond
Scott E. Diamond

On February 16, 2022, the Department of the Treasury's Office of Foreign Assets Control (OFAC) published in the Federal Register a final rule adding formal regulations to implement previously announced sanctions regarding Chinese Military-Industrial Complex companies. These formal regulations are the result of a November 12, 2020, Executive Order (EO) 13959 issued by former President Donald Trump which banned U.S. persons from transacting in publicly traded securities or derivatives or similar securities of any Chinese companies designated by the U.S. government as enabling Chinese military aims. See Update of November 24, 2020. On June 3, 2021, President Joseph Biden issued EO 14032 amending (and in part superseding) the November 2020 EO and expanding the restrictions on investments in Chinese defense and surveillance technology firms.

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