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Biden-Harris administration: 100-day review of Sanctions policy
Apr. 24 - When the Biden administration took office on 20 January 2021 it had already announced that there would be reviews of how the US deals with international partnerships.
Under the previous administration the US had left the Paris accord on climate change and the World Health Organisation (WHO). Within a day of taking office the new administration set in motion the reversal of both the withdrawal from the Paris agreement and WHO membership.
US secretary of the treasury Janet Yellen has said that one of her top priorities is to review the US use of sanctions as well as those that are currently in place. While the review will clearly take some time, the US cannot sit still awaiting the outcome and so it requires an active sanctions policy.
Burma
While the US had closed its previous Burma sanctions programme, recent events led to the announcement of sanctions and export controls under Executive Order 14014. This is now established and there have been some coordinated listings announced with the UK and EU during the early stages.
China
The US invoked two Chinese-related sanctions programmes in 2020. The Hong Kong autonomy act set out two sets of listings which have menu based prohibitions. The first list is those targeted, while the second list will be made up of financial institutions that are dealing with those on the first list.
The “Communist Chinese Military Companies” (CCMC) sanctions were more problematic for financial services due to the ‘near match’ element that was included in EO 13959. This provision was the subject of general licence 1 which was issued and updated to licence 1A in the early days of the new administration. This extension of the general licence to 27 May can be seen as a tactic to allow time for a full review and for appropriate action to be taken if required.
Iran
The Joint Comprehensive Plan of Action (JCPOA), which set out the plan for a solution to the Iranian nuclear issue, is a significant agreement signed by the five permanent members of the UN Security Council, plus the High Representative of the EU, Germany, and the Islamic Republic of Iran. The Biden administration has said that it is open to discussing the US re-joining, though this will be a problematic area for both the US and Iran to negotiate. The upcoming Iranian elections will add distractions through the middle of 2021.
Recent meetings between participants have been encouraging. If not resolving the differences, at least they have paused the divergence between the parties and JCPOA compliance.
Russia
Russia is a complex area. On one hand the US is likely to look for coordinated international action and this will almost certainly involve the EU, as we have seen with the recent sanctions in response to the Novichok poisoning of Alexei Navalny. This is counterbalanced by the increasing pressure the US is exerting on the Nord Stream 2 project which has joint investment and involvement from leading companies in EU member states (Germany, France, Austria and the Netherlands). The US recently imposed additional sanctions on Russian individuals and entities under EO 14024 which shows how the US is leading on additional sanctions. Those invoked under EO 14024 are wide ranging, covering areas such as cyber, election interference and sovereign debt prohibitions.
ICC
This month (April) the US has reversed the sanctions put in place against personnel of the International Criminal Court under EO 13928
On 27 April UK Finance will be hosting a panel of experts to discuss the first 100 days of the Biden/Harris administration, the approach we have seen and what we may expect with regard to the above.
This event is free to attend and registration can be completed via this link. source from
Apr. 24 - When the Biden administration took office on 20 January 2021 it had already announced that there would be reviews of how the US deals with international partnerships.
Under the previous administration the US had left the Paris accord on climate change and the World Health Organisation (WHO). Within a day of taking office the new administration set in motion the reversal of both the withdrawal from the Paris agreement and WHO membership.
US secretary of the treasury Janet Yellen has said that one of her top priorities is to review the US use of sanctions as well as those that are currently in place. While the review will clearly take some time, the US cannot sit still awaiting the outcome and so it requires an active sanctions policy.
Burma
While the US had closed its previous Burma sanctions programme, recent events led to the announcement of sanctions and export controls under Executive Order 14014. This is now established and there have been some coordinated listings announced with the UK and EU during the early stages.
China
The US invoked two Chinese-related sanctions programmes in 2020. The Hong Kong autonomy act set out two sets of listings which have menu based prohibitions. The first list is those targeted, while the second list will be made up of financial institutions that are dealing with those on the first list.
The “Communist Chinese Military Companies” (CCMC) sanctions were more problematic for financial services due to the ‘near match’ element that was included in EO 13959. This provision was the subject of general licence 1 which was issued and updated to licence 1A in the early days of the new administration. This extension of the general licence to 27 May can be seen as a tactic to allow time for a full review and for appropriate action to be taken if required.
Iran
The Joint Comprehensive Plan of Action (JCPOA), which set out the plan for a solution to the Iranian nuclear issue, is a significant agreement signed by the five permanent members of the UN Security Council, plus the High Representative of the EU, Germany, and the Islamic Republic of Iran. The Biden administration has said that it is open to discussing the US re-joining, though this will be a problematic area for both the US and Iran to negotiate. The upcoming Iranian elections will add distractions through the middle of 2021.
Recent meetings between participants have been encouraging. If not resolving the differences, at least they have paused the divergence between the parties and JCPOA compliance.
Russia
Russia is a complex area. On one hand the US is likely to look for coordinated international action and this will almost certainly involve the EU, as we have seen with the recent sanctions in response to the Novichok poisoning of Alexei Navalny. This is counterbalanced by the increasing pressure the US is exerting on the Nord Stream 2 project which has joint investment and involvement from leading companies in EU member states (Germany, France, Austria and the Netherlands). The US recently imposed additional sanctions on Russian individuals and entities under EO 14024 which shows how the US is leading on additional sanctions. Those invoked under EO 14024 are wide ranging, covering areas such as cyber, election interference and sovereign debt prohibitions.
ICC
This month (April) the US has reversed the sanctions put in place against personnel of the International Criminal Court under EO 13928
On 27 April UK Finance will be hosting a panel of experts to discuss the first 100 days of the Biden/Harris administration, the approach we have seen and what we may expect with regard to the above.
This event is free to attend and registration can be completed via this link. source from
APRIL 22, 2021
President Biden and Vice President Harris Deliver Remarks at Climate Summit
President Biden delivered opening remarks at a virtual climate summit from the White House with world leaders on Earth Day. The president spoke about the importance of nations working together to address climate change saying the challenge is too big for one country to solve. He also announced the U.S. will aim to cut carbon emissions in half by 2030 and reach net zero emissions by 2050.
President Biden and Vice President Harris Deliver Remarks at Climate Summit
President Biden delivered opening remarks at a virtual climate summit from the White House with world leaders on Earth Day. The president spoke about the importance of nations working together to address climate change saying the challenge is too big for one country to solve. He also announced the U.S. will aim to cut carbon emissions in half by 2030 and reach net zero emissions by 2050.
Boris Johnson and Joe Biden, on screen, take part in the opening session of the virtual summit on climate change organised by the US President
Joe Biden's climate change pledge will help to get world moving in right direction – Scotsman comment
When the US President speaks, the words echo all over the world.
Apr. 23 - Joe Biden’s promise that the US will cut carbon emissions by about twice as much as previously planned by the end of this decade is a rallying cry. It will be answered by countries whose governments similarly realise the importance of the fight against climate change, and also by those who understand the value of staying in Washington’s good books.
Boris Johnson has just increased the UK’s target to cut carbon emissions to 78 per cent of 1990 levels by 2035. Would this have happened if the coal-loving, climate change-sceptic Donald Trump was still in the White House and therefore the person to whom the UK would have to go, cap in hand, seeking an all-important post-Brexit trade deal?
Johnson described Biden’s announcement as “game-changing” and spoke of “building back greener” in the wake of the Covid crisis.
Both leaders’ comments are a further signal to the business world – investors in particular – about the direction of travel over what Biden called a “decisive decade” if we are to avoid the worst effects of global warming.
It is clearer than ever what the future is going to be like and there will be much money to be made – and many jobs to be created – for businesses that jump at the array of new opportunities.
Biden’s focus on climate change – the most pressing issue facing humanity bar none – also means that the United Nations’ Cop26 climate summit in Glasgow later this year could become as important and historic as the one that led to the 2016 Paris Agreement. source from
Joe Biden's climate change pledge will help to get world moving in right direction – Scotsman comment
When the US President speaks, the words echo all over the world.
Apr. 23 - Joe Biden’s promise that the US will cut carbon emissions by about twice as much as previously planned by the end of this decade is a rallying cry. It will be answered by countries whose governments similarly realise the importance of the fight against climate change, and also by those who understand the value of staying in Washington’s good books.
Boris Johnson has just increased the UK’s target to cut carbon emissions to 78 per cent of 1990 levels by 2035. Would this have happened if the coal-loving, climate change-sceptic Donald Trump was still in the White House and therefore the person to whom the UK would have to go, cap in hand, seeking an all-important post-Brexit trade deal?
Johnson described Biden’s announcement as “game-changing” and spoke of “building back greener” in the wake of the Covid crisis.
Both leaders’ comments are a further signal to the business world – investors in particular – about the direction of travel over what Biden called a “decisive decade” if we are to avoid the worst effects of global warming.
It is clearer than ever what the future is going to be like and there will be much money to be made – and many jobs to be created – for businesses that jump at the array of new opportunities.
Biden’s focus on climate change – the most pressing issue facing humanity bar none – also means that the United Nations’ Cop26 climate summit in Glasgow later this year could become as important and historic as the one that led to the 2016 Paris Agreement. source from
APRIL 22, 2021
White House Daily Briefing
White House Special Presidential Envoy for Climate John Kerry and National Climate Adviser Gina McCarthy joined White House Press Secretary Jen Psaki to speak about the Biden administration’s climate initiatives. Ms. McCarthy reiterated President Biden’s goal of cutting carbon emissions in half by 2030 and reaching net zero emissions by 2050 and discussed how the administration was using an all of government approach to reach this standard. Secretary Kerry talked about his efforts to work with other countries to encourage their efforts on climate change and said he was pleased with the commitments made by China, Russia, India and other nations. Ms. Psaki also answered a variety of questions on climate change, the president’s planned address to Congress, the American Families Plan, and working with Republicans for bipartisan solutions.
White House Daily Briefing
White House Special Presidential Envoy for Climate John Kerry and National Climate Adviser Gina McCarthy joined White House Press Secretary Jen Psaki to speak about the Biden administration’s climate initiatives. Ms. McCarthy reiterated President Biden’s goal of cutting carbon emissions in half by 2030 and reaching net zero emissions by 2050 and discussed how the administration was using an all of government approach to reach this standard. Secretary Kerry talked about his efforts to work with other countries to encourage their efforts on climate change and said he was pleased with the commitments made by China, Russia, India and other nations. Ms. Psaki also answered a variety of questions on climate change, the president’s planned address to Congress, the American Families Plan, and working with Republicans for bipartisan solutions.
