Canada, Germany and the Netherlands released a joint advisory this week to give their companies guidance on how they can identify and report suspected Russian sanctions and export control evasion. The advisory, issued by the financial intelligence units of each country, includes a list of red flags, suggestions for customer due diligence and various case examples of Russian companies trying to evade sanctions.

Export Compliance Daily is providing readers with the top stories from last week in case you missed them. You can find any article by searching for the title or by clicking on the hyperlinked reference number.

The U.S. will announce "major" new sanctions against Russia this week, President Joe Biden told reporters Feb. 20 before leaving on a campaign trip. He said his administration will be releasing new sanctions on Russia as part of a package that will be announced Feb. 23.

The EU and the U.S. should try to reach a more “concrete” set of outcomes before the next Trade and Technology Council meeting in April and may discuss making the body permanent, said Valdis Dombrovskis, the EU’s top trade official. He said the two sides are “fleshing out new ideas” on supply chain, export controls and investment screening issues, and they want to make progress before the current European Commission term ends in October and before the upcoming U.S. presidential election.

Businesses are relieved by the quasi-truce between China and the U.S., consultants and lawyers said on a trade panel last week, but those in the tech sectors expect more restrictions are coming in the near future.

Industry lawyers and advisers see the Bureau of Industry and Security's revamped voluntary disclosure policies as a positive set of moves that could reduce compliance burdens on exporters and encourage more companies to come forward with tips about their competitors. But at least one former government official said corporations should remain skeptical about the changes until BIS offers more clarity about how it will implement them in practice.

Undersecretary of State for Arms Control and International Security Bonnie Jenkins said she is “very confident” Australia and the U.K. will qualify to receive International Traffic in Arms Regulations (ITAR) exemptions from the U.S., a key requirement for the AUKUS trilateral security partnership.

Republican members of the House Financial Services Committee on Feb. 14 criticized the Financial Crimes Enforcement Network’s new beneficial ownership information (BOI) reporting rule (see 2401050023), saying it's too complicated and burdensome for small businesses.

A New York freight forwarder agreed to complete export compliance training, but won’t face a fine, after admitting to the Bureau of Industry and Security that it illegally shipped enterprise servers and switches to Iran on behalf of an Iran-based exporter.

A new proposed rule from the Treasury Department could make investment advisers subject to certain anti-money laundering and counter-terrorism financing requirements under the Bank Secrecy Act. The agency said the measures could close a loophole that allows sanctioned companies, including in China, to invest in U.S. companies and access sensitive technology.