On October 18, 2023, the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) suspended several Venezuela-related sanctions in response to a political agreement between the Maduro government and the Unitary Platform.

President Joe Biden signed an Executive Order on October 30, 2023 to guide the development of artificial intelligence. The Executive Order builds on previous voluntary commitments made by Big Tech and leading AI companies, as our previous alert reported. Two days later, on November 1, 2023, to coincide with Vice President Kamala Harris attending the “Safety Summit 2023” in London, the U.S. Department of Commerce announced the creation of the U.S. Artificial Intelligence Safety Institute (“USAISI").

On October 23, 2023, the European Commission issued a Frequently Asked Questions (“FAQ”) document clarifying the European Union’s (“EU”) blocking sanctions “50% Rule.” The FAQ applies specifically to subsidiaries of the 13 Russian entities currently subject to blocking sanctions under Annex XIX to Council Regulation 833/2014, including Russian energy, transportation, and technology companies Rosneft, Transneft, Rostec, KAMAZ, and Sovcomflot, among others.

New York Partner Peter Shapiro and Associate Abaigeal Franson prevailed on an appeal in the New York Appellate Division First Department. The client is an immigration law firm which was retained by a corporate client to assist with visa issues for an executive.

On October 12, 2023, the G7 Price Cap Coalition (Australia, Canada, the European Union, France, Germany, Italy, Japan, the United Kingdom, and the United States) released an Advisory for the Maritime Oil Industry and Related Sectors (“Advisory”), outlining best practices for the maritime oil industry to ensure compliance with price caps on crude oil and petroleum products put in place by the G7, European Union, and Australia.

On October 17, 2023, the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) announced further limitations on the sale of advanced semiconductors from the United States to China. This is the Biden administration’s latest effort to limit the capacity of  U.S. technologies to aid in the development of China’s supercomputing and artificial intelligence sectors. These updates also expand the export controls to include all 22 countries with which the U.S. has an arms embargo.

On October 6, 2023, the Department of Commerce’s Bureau of Industry and Security (BIS) amended the Export Administration Regulation (EAR) by adding 49 entities to the Entity List for their support of Russia’s military and defense industrial base. The Entity List identifies entities that are believed to be involved, or pose a risk of becoming involved, in activities contrary to the national security or foreign policy of the United States. Once added to the list, these entities, and those who do business with them, are subject to licensing requirements and supplemental regulations.