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On 20 May 2026 President Prabowo Subianto signed a Government Regulation (Peraturan Pemerintah tentang Tata Kelola Ekspor Komoditas Sumber Daya Alam) establishing PT Danantara Sumber Daya Indonesia (DSI) — a wholly-owned subsidiary of the Danantara sovereign-investment holding company — as the sole legal exporter ("eksportir tunggal") for palm oil (CPO and derivatives), thermal and metallurgical coal, and ferroalloys (ferronickel, nickel pig iron, ferromanganese, ferrochrome), representing approximately USD 65 billion in annual Indonesian export proceeds. A phased implementation architecture applies: a transition period from 1 June through 31 August 2026 during which private exporters continue direct contractual relationships but must route all export documentation through DSI as the mandatory single-window reporting layer; followed by full implementation from 1 September 2026 under which DSI assumes the entire export chain including contract negotiation, buyer relationship, shipment booking, and payment receipt. The stated rationale is to strengthen export-flow oversight, eliminate under-invoicing and transfer-pricing-driven capital flight, and improve DHE-SDA foreign-exchange retention compliance.

The Kyrgyz Republic's National Investment Agency (NIA) under the President formally issued a new mining license and license agreement to ZAAV CJSC — a joint venture between Silvercorp Metals (70%, operator) and state SOE Kyrgyzaltyn (30% free-carried interest) — extending the valid period of the Tulkubash/Kyzyltash gold project mining licence from June 25, 2032 to June 25, 2062, a 30-year extension. Under the Cooperation Agreement, Silvercorp paid $60M to the NIA (with a further $10M due upon specified milestones), and Phase 1 Development of Tulkubash (4 Mt/yr open-pit heap-leach, ~110,000 oz Au/yr) was approved for 2026–2027. The deal marks the first major Western mining capital re-entry into Kyrgyzstan since the 2022 Kumtor nationalisation from Centerra Gold, with Kyrgyzaltyn's 30% free-carry as the operative equity structure conditioning Western FDI access.

Via Department Administrative Order (DAO) No. 26-03, series of 2026, signed on 20 May 2026, the Philippine DTI removed China and Indonesia from the list of developing countries exempt from the definitive general safeguard measure on ordinary Portland cement (Type 1) and blended cement, imposing a safeguard duty of PHP 349 per metric tonne (≈ US$6.09/t; PHP 14 per 40 kg bag) on imports from those two origins for three years. The removal follows the Philippine Tariff Commission's monitoring, which found China's share of total cement imports rising from 11% in 2025 to 23% in Q1 2026 and Indonesia's from 6% to 8% over the same period — both exceeding the 3% de minimis threshold that conferred exemption under the parent DAO 25-15. The underlying definitive safeguard, covering all non-exempt origins, first took effect in February 2026 following a serious-injury determination by the Tariff Commission.

The Government of Sierra Leone officially launched the National Strategy for Critical Minerals 2026-2031 on 20 May 2026 at Sierra Leone Mining Week (Freetown International Conference Centre), with Vice President Dr Mohamed Juldeh Jalloh delivering the keynote address alongside Minister of Mines Julius Daniel Mattai. The strategy commits to attracting USD 2.5 billion in exploration and mining investment, establishing 3-5 domestic mineral-processing plants, and achieving USD 1.5 billion in annual value-added mineral exports by 2031 -- up from a current raw-mineral export base of approximately USD 1.3 billion. Scope covers lithium, graphite, bauxite, cobalt, coltan, rutile, diamonds, iron ore, and rare-earth elements, and frames the national minerals agenda under the theme "Responsible Mining, Value Multiplication and Shared Prosperity."

The US Department of Commerce published its final affirmative determination in the less-than-fair-value (LTFV) antidumping investigation of polypropylene corrugated boxes from Vietnam (Federal Register doc 2026-10109, published 20 May 2026), finding that all Vietnamese producers/exporters constitute a single Vietnam-wide entity subject to a 130.58% AD rate based solely on Adverse Facts Available (AFA) due to non-cooperation. Commerce also issued a final affirmative determination of critical circumstances, triggering retroactive provisional-measures liability on entries made during the 90-day look-back period. The period of investigation covered 1 July 2024 through 31 December 2024; the ITC must issue its final injury determination within 45 days for an AD order to take effect.

On 19 May 2026, Treasurer Jim Chalmers announced a further overhaul of Australia's foreign investment framework under the Foreign Acquisitions and Takeovers Act 1975. The package introduces a performance target of processing all low-risk applications within 30 days from 1 January 2027, expands the exemption-certificate regime for repeat low-risk investors, and eliminates approval requirements for certain low-risk transaction types. Countervailing measures tighten the framework: enhanced compliance and enforcement powers are added for avoidance and non-compliance, and screening requirements are explicitly increased for sensitive sectors including critical minerals, critical infrastructure, critical technology, sensitive data, and defence-site-proximate assets.

The UK laid the Russia (Sanctions) (EU Exit) (Amendment) Regulations 2026 (SI 2026/543) before Parliament on 19 May 2026; it came into force on 20 May 2026. The instrument inserts a new Chapter 4KA (regulations 46Z23A-46Z23G) into the Russia (Sanctions) (EU Exit) Regulations 2019, prohibiting the import into the UK of uranium (HS 2844.10/2844.20/2844.30) that originates in or is consigned from Russia, the direct or indirect acquisition of Russian-origin or Russia-located uranium, and the supply or delivery of uranium from Russia to a third country — plus associated technical assistance, financial services/funds, and brokering services. Each prohibition carries a criminal offence with a reasonable-cause-to- suspect defence, subject to narrow exceptions and licensing grounds at regulations 16-19 of the amending instrument. The same instrument separately extends the existing ban on imports of relevant (2709-origin) Russian crude to cover oil products refined from that crude in a third country (new regulations 46Z9F-46Z9I).

The U.S. Treasury's Office of Foreign Assets Control (OFAC) announced on 18 May 2026 that Adani Enterprises Limited (AEL), a flagship publicly traded entity of India's Adani Group (NSE: ADANIENT), agreed to pay $275,000,000 to settle apparent civil liability for violations of the Iranian Transactions and Sanctions Regulations (ITSR, 31 CFR Part 560) arising from AEL's purchases of liquefied petroleum gas (LPG) shipments through a Dubai-based commodity trader between November 2023 and June 2025, where red flags should have placed AEL on notice that the LPG originated from Iran. Approximately $192 million in payments for the Iranian-origin LPG shipments were processed through US financial institutions, providing the US nexus for OFAC jurisdiction. OFAC determined the apparent violations were EGREGIOUS and not voluntarily self-disclosed; AEL did not admit fault but committed to implementing enhanced compliance measures. The settlement is the largest OFAC enforcement action against an Indian corporate entity on record and was announced concurrently with parallel DOJ and SEC resolutions forming part of a broader US legal-relief package for the Adani Group.

On 17 May 2026, Treasurer Jim Chalmers signed the Foreign Acquisitions and Takeovers (Disposal of Interests in Northern Minerals Limited) Orders (No. 1) 2026 (F2026N00326), directing six China-linked foreign investors to divest a combined 1,678,895,780 shares in Northern Minerals Limited (ASX: NTU) within 14 days of the Orders commencing on 18 June 2026. The six named investors are: Real International Resources Limited (619.1m shares), Qogir Trading and Service Co. Limited (523.5m), Vastness Investment Group Limited (271.3m), Chuanyou Cong (130.1m), Hong Kong Ying Tak Limited (95.3m), and Zhongxiong Lin (39.7m), together representing approximately 17.6% of NTU's total shares. NTU owns the Browns Range Heavy Rare Earths Project in Western Australia, one of the few ex-China commercial-scale dysprosium and terbium deposits. These orders are the second tranche of Treasurer-forced divestment of Chinese shareholders in NTU, distinct from the AUD 14 million Federal Court penalty imposed on Indian Ocean International Shipping in January 2026 for non-compliance with the June 2024 disposal orders.

The Central Bank of Sudan (CBOS) issued Circular No. 12/2026 and Circular No. 13/2026 on 14 May 2026, restructuring Sudan's gold export regime. Circular 12/2026 abolished restrictions on exporters' use of gold and commodity export earnings — permitting proceeds to fund any Ministry of Trade-authorised import via an "intermediate import account" (21-day utilisation window) — and formally terminated the CBOS monopoly on gold purchases, allowing registered private traders to export through official channels. Circular 13/2026 established a daily gold incentive price (international 24-karat benchmark minus USD 10 per troy ounce, converted to USD per gram), published through the XAR electronic system; commercial banks and export-clearing authorities must clear shipments at or above this price.

On 14 May 2026, following an on-site inspection of mining operations in Mpanda Municipality and Nsimbo District Council in Tanzania's Katavi Region, Minister for Minerals Hon. Anthony Mavunde ordered the immediate suspension of all mining activities along the Mtisi River after inspectors found severe environmental degradation, absence of environmental management plans and NEMC permits, and foreign nationals operating machinery directly — in violation of the Mining Act Cap. 123 (R.E. 2019), which restricts foreign parties under Technical Support Agreements (TSAs) to advisory and technical-support roles only. Mavunde simultaneously directed all Resident Mining Offices nationwide to conduct a review of every TSA between local small-scale miners and foreign investors to verify legal compliance and ensure that agreements genuinely benefit Tanzanian citizens. Three large exploration licences recently revoked (linked to the 15 April 2026 mass-revocation) are to be reallocated to small-scale miners in Katavi Region under the Mining for a Brighter Tomorrow (MBT) framework.

On 13 May 2026, Entreprise Générale du Cobalt (EGC — the DRC state cobalt monopsony), Trafigura Pte Ltd, and EVelution Energy LLC signed a tripartite MOU in Madrid to establish a long-term supply framework for Congolese cobalt hydroxide to the United States. EGC will originate cobalt hydroxide from artisanal and small-scale mining; Trafigura will provide logistics and marketing services; EVelution will process the material into battery-grade cobalt sulfate and alloy-grade cobalt metal at a new first-of-kind commercial-scale refinery in Yuma County, Arizona (construction 2027, target completion 2029). The arrangement is designed to supply approximately 40% of projected US cobalt demand for aerospace, defence, and EV batteries. The MOU operationalises the December 2025 US-DRC Strategic Partnership Agreement at the commercial supply-chain level, creating a primary DRC→US cobalt flow that bypasses Chinese refiners.

DGFT Notification No. 16/2026-27 (13 May 2026) escalated the export policy for sugar under ITC(HS) codes 1701 14 90 (raw sugar) and 1701 99 90 (white and refined sugar) from "Restricted" to "Prohibited" with immediate effect, covering all three commercial grades. The prohibition runs until 30 September 2026, or until a further Central Government order, whichever is earlier. The measure is a pre-emptive domestic price-stabilisation step ahead of an uncertain 2025-26 sugarcane season; carve-outs preserve EU and US CXL/Tariff-Rate-Quota obligations, Advance Authorisation Scheme exports, government-to-government shipments, and consignments already in the physical export pipeline before 13 May 2026.

The European Investment Bank signed its first-ever loan to N-ERGIE Aktiengesellschaft on 12 May 2026, a EUR 200 million long-term facility to finance renovation, reinforcement and digitalisation of N-ERGIE Netz GmbH's electricity distribution infrastructure in northern Bavaria, particularly the Nuremberg metropolitan region. The financing covers overhead lines, underground cables, substations, and network control/automation systems, and is intended to accommodate renewable-generation connection and rising electricity demand from electromobility and heat pumps over the 2025-2026 investment programme.

On 9 May 2026 Mozambique's Assembleia da República approved, by consensus of all four parliamentary caucuses under an urgency procedure submitted by President Daniel Chapo, a standalone Lei de Conteúdo Local establishing the legislative-level local-content framework for the country's petroleum and natural gas megaprojects. The law was promulgated on 5 June 2026. It defines goods and services as qualifying local content when they meet at least one of three thresholds: ≥80% national production factors, ≥40% Mozambican company ownership, or a predominantly Mozambican payroll. It mandates integration of national labour, preference for Mozambican subcontractors and goods-and-services suppliers, and creates a dedicated Local Content Agency (Agência de Conteúdo Local) to oversee compliance and enforce penalties. Primary application: TotalEnergies Area 1 (Mozambique LNG) and ExxonMobil/Eni Area 4 (Rovuma LNG / Coral South).

Australia's Anti-Dumping Commission (ADC) published a definitive countervailing (anti-subsidy) duty of 4.5% on imports of steel corner/finishing beading and angles from China, effective 8 May 2026, under Case 677. The investigation was initiated 30 May 2025 following an application from domestic manufacturer Rondo Building Services Pty Ltd, covering metallic-coated corner beading and angles up to 0.49mm base metal thickness under HS codes 7216.61.00, 7216.69.00, 7216.91.00, 7216.99.00 and 7308.90.00. A companion definitive anti-dumping duty of 27.8% on the same product from non-cooperative Chinese exporters was imposed under the same case.

On 8 May 2026 China's National Health Commission released a public consultation draft proposing material amendments to the 2023 Implementation Rules for the Administrative Regulations on Human Genetic Resources, with a comment deadline of 7 June 2026. The draft narrows the statutory "foreign party" definition to a bright-line 50% equity/voting threshold (excluding VIE-structured entities), restricts "HGR Information" strictly to nucleic-acid sequence data (excluding clinical, imaging, and metabolic data), removes the separate Article 37 security-review requirement for sensitive HGR datasets, and introduces a same-day or next-working-day fast-track confirmation for international clinical trials not involving HGR information export.

On 8 May 2026 the US Department of Commerce and South Korea's Ministry of Trade, Industry and Resources (MOTIR) signed the Korea-U.S. Shipbuilding Partnership Initiative (KUSPI) MOU, establishing a standing bilateral platform covering commercial shipbuilding cooperation, workforce development, industrial modernisation, and maritime manufacturing investment. The agreement creates the Korea-U.S. Shipbuilding Partnership Center in Washington D.C. (expected operational later in 2026) as the permanent coordination mechanism for technical exchanges, shipyard productivity improvement projects, FDI into the US maritime industrial base, and joint workforce training. KUSPI operationalises the $150 bn Korean investment sub-pledge to US shipbuilding — itself a tranche of the broader $350 bn / $20 bn-annual-cap commitment under the December 2025 US-Korea Strategic Trade and Investment Deal — and structurally positions the US-ROK allied axis as the coordinated civilian shipbuilding counterweight to China's dominant global shipyard share.

Brazil's Foreign Trade Chamber Executive Committee (GECEX/CAMEX) published Resolução nº 892 on 7 May 2026 (DOU 8 May 2026), modifying the definitive anti-dumping duty on imports of metallic magnesium in crude forms (magnésio metálico em formas brutas, NCM 8104.11.00 and 8104.19.00) originating in China — originally imposed by Resolução GECEX nº 253 of 24 September 2021. The modification converts the duty collection mechanism to a specific tariff fixed in US dollars per kilogram (alíquota específica fixada em dólares estadunidenses por quilograma), based on Parecer SEI nº 258/2026/MDIC, and was deliberated at GECEX's 236th Ordinary Meeting on 30 April 2026. China accounts for approximately 85% of global primary magnesium production; magnesium is designated a critical material under both CRMA Annex I and the USGS Critical Minerals List, serving as an essential input to aluminium alloys for automotive and aerospace lightweighting and to steel desulphurisation. This resolution is a NEW action on the IPTM register — the original 2021 AD measure (GECEX nº 253) was not previously filed — capturing the current in-force duty alteration as the operative instrument.

A divided three-judge panel of the US Court of International Trade (CIT), in Slip Op. 26-47 (Court Nos. 26-01472 and 26-01606, decided 7 May 2026), held 2-1 that President Trump's Proclamation 11012 — which imposed a temporary 10% ad-valorem import surcharge under Section 122 of the Trade Act of 1974 — exceeded statutory authority because the proclamation did not identify a "fundamental international payments problem" as defined by the 1974 Congress (the balance-of-trade or current-account deficit relied upon by the government is not the type of balance-of-payments deficit the statute contemplates). The court issued a permanent injunction prohibiting CBP from collecting Section 122 duties from the three prevailing plaintiff- importers and ordered refunds with statutory interest for duties already paid; it declined to issue a nationwide injunction. The US Court of Appeals for the Federal Circuit (CAFC) entered an administrative stay of the CIT injunction on 12 May 2026 pending appeal, and the CIT denied the government's own motion to stay its ruling on 20 May 2026; the CAFC appeal is now pending.

Brazil enacted Lei 15.506 of 16 September 2026 (in force on publication, Art. 51), establishing the Política Nacional de Minerais Críticos e Estratégicos (PNMCE) — Brazil's first standalone critical-minerals sovereignty framework — and the Conselho Nacional para Industrialização de Minerais Críticos e Estratégicos (CIMCE). The law originated as Bill PL 2780/2024, approved by the Chamber of Deputies on May 6-7, 2026 (one day before the Lula-Trump White House meeting) and then by the Senate. It authorises the Union to create the Fundo Garantidor da Atividade Mineral (FGAM) with up to R$2bn (Art. 9) to guarantee critical-mineral projects, and a tax credit of up to 20% of spend on critical-mineral processing, transformation and urban mining. The Chamber-approved text (CMCE committee with prior-approval rights over takeovers and foreign participation, FGAM up to R$5bn, 0.3% gross-revenue R&D levy) was amended before enactment; see the 2026-09-16 amendment.

The Republic of Guinea (represented by Minister of Mines Bouna Sylla and Minister of Finance), Guinea Alumina Corporation (GAC, subsidiary of UAE's Emirates Global Aluminium), and EGA signed an amicable settlement on 6 May 2026, formally ending the 18-month dispute that followed Guinea's August 2025 revocation of GAC's Sangarédi bauxite concession. Key terms: (1) Guinea pays EGA/GAC an undisclosed lump-sum (~USD 300M widely reported but not officially confirmed) in exchange for the formal transfer of all Sangarédi project assets, mining rights, equipment, and operational contracts to state-owned Nimba Mining Company (NMC) — the concession transfer is not reversed; (2) NMC assumes responsibility for advancing the Sangarédi project, including the alumina refinery investment commitment that GAC failed to fulfil; (3) CBG–EGA and NMC–EGA bauxite supply arrangements are restored — CBG agreed to renew long-term supply contracts with EGA under mutually beneficial commercial terms, re-anchoring EGA's UAE alumina refinery feedstock (~2.6 Mt/yr alumina output dependent on Guinea bauxite); (4) the settlement definitively terminates all disputes arising from the October 2024 export suspension, the August 2025 presidential decree revocation, and any CBG-related supply interruptions. EGA had taken a USD 680m write-down in 2025 following the original revocation. No formal Journal Officiel decree identified; settlement announced via EGA joint press release co-signed by both Guinea ministers.

USTR formally initiated the second statutorily mandated four-year review of its Section 301 investigation into China's acts, policies, and practices related to technology transfer, intellectual property, and innovation (Federal Register 2026-08806, published May 6, 2026). The review covers tariff actions imposed on approximately $300 billion of Chinese goods across Lists 1–4B (25% on most lists; 7.5% on List 4A) and will determine whether those actions should be continued, modified, or terminated. Interested parties may file continuation requests in two 60-day windows: May 7–July 5, 2026 (for the July 6, 2018 action) and June 24– August 22, 2026 (for the August 23, 2018 action). DISTINCT from the March 2026 Section 301 excess-capacity investigations (which target 16 economies on overcapacity sectors) and from the June 2026 Section 301 forced-labor enforcement action (60 economies); this review is China-specific, IP/TT-focused, and mandated by the original Biden-era statutory clock under Section 304(c) of the Trade Act of 1974.

The Union Cabinet chaired by Prime Minister Narendra Modi approved on 5 May 2026 two new semiconductor manufacturing units under the India Semiconductor Mission (ISM) Phase 1: Crystal Matrix Limited (CML) — India's first GaN-based compound-semiconductor and Mini/Micro-LED display fabrication facility (INR 3,068 crore, Dholera, Gujarat) and Suchi Semicon Private Limited (SSPL) — an OSAT facility for discrete semiconductors (INR 868 crore, Surat, Gujarat). Cumulative investment INR 3,936 crore (~USD 400mn); 2,230 skilled jobs at full ramp. This constitutes the 12th and final batch of ISM Phase 1 approvals, closing the first-phase envelope before ISM 2.0 (filed 2026-02-01) takes over.

Prime Minister Phạm Minh Chính issued Directive 38/CĐ-TTg on 5 May 2026, mobilising a cross-ministerial enforcement campaign against intellectual property infringement running 7–30 May 2026 with a 31 May reporting deadline. The directive explicitly responds to the USTR 2026 Special 301 designation of Vietnam as a Priority Foreign Country — the first such designation in eleven years — which triggers a statutory 30-day window for USTR to decide whether to open a Section 301 investigation. Ministries of Public Security, Industry and Trade (Market Surveillance), Information and Communications, and Culture are mobilised for coordinated raids targeting counterfeit-goods exporters, pirated-content platforms, and software-copyright violators, with the Prime Minister signalling enforcement will be permanent rather than a one-off campaign.

Decision No. 190 of 2026 of Egypt's Minister of Investment and Foreign Trade Mohamed Farid, published in the Egyptian Official Gazette (الوقائع المصرية) issue No. 98 (annex / تابع) on 4 May 2026 and effective the following day, imposes a temporary US$90 per metric ton export duty on all nitrogen-based fertilizers (principally urea and ammonium nitrate) for a three-month window expiring early August 2026, with extension possible. The duty is paid in Egyptian pounds at the Central Bank of Egypt prevailing rate at the time of each transaction. Phosphatic fertilizers are excluded. The stated rationale is securing domestic supply availability during a global nitrogen-price surge driven by Russian/Ukrainian supply disruption, Iranian production losses, and seasonal demand. Egypt is the world's #7 nitrogen-fertilizer exporter (≈3.54 Mt exported in 2024); the measure quadruples the prior nominal export-tax level on the segment.

The Decreto para la Autorización Inmediata de Inversiones, published in Mexico's Diario Oficial de la Federación on 4 May 2026, creates a streamlined investment-authorization mechanism under President Sheinbaum's Plan México strategy. The decree establishes an Investment Committee — composed of the Secretariats of Economía, Hacienda, SEMARNAT, SCT, Energía, and Bienestar — mandated to issue authorization certificates within 30 business days for qualifying projects, replacing the historic 6–18-month multi-agency backlog. Eligibility covers three tiers: projects in designated Polos de Desarrollo Económico para el Bienestar (Welfare Development Poles), investments of MXN 2 billion (≈USD 100M) or more, and projects in strategic sectors (semiconductors, EV batteries, critical minerals, automotive supply chain, medical devices, biotech, aerospace). This is the procedural- acceleration arm of Plan México, structurally distinct from the January 2025 Plan México tax-incentive decree (the fiscal arm), and operationalises the February 2026 Plan México expansion announced by Sheinbaum.

On 2 May 2026, MOFCOM issued Announcement No. 21 of 2026 — the first concrete prohibition order ever issued under China's 2021 "Rules on Counteracting Unjustified Extra-territorial Application of Foreign Legislation and Other Measures" (Blocking Rules) and the Anti-Foreign Sanctions Law (AFSL). The order prohibits any Chinese organisation, individual, or foreign party operating in China from recognising, enforcing, or complying with US sanctions imposed under Executive Orders 13902 and 13846 against five Chinese independent ("teapot") refineries — Hengli Petrochemical (Dalian) Refining Co., Ltd., Shandong Shouguang Luqing Petrochemical Co., Ltd., Shandong Jincheng Petrochemical Group Co., Ltd., Hebei Xinhai Chemical Group Co., Ltd., and Shandong Shengxing Chemical Co., Ltd. — all designated by OFAC for purchasing Iranian crude. The announcement is the first operational test of the framework built up across the AFSL (2021), the AFSL Implementation Regulations (Order 803, March 2025), and State Council Order 835 on Countering Foreign Unlawful Extraterritorial Jurisdiction (April 2026), and creates a direct compliance conflict for banks, insurers, traders, and shipping companies operating in or with China that had been winding down their exposure to the listed refineries.

President Trump signed Executive Order 14404, "Imposing Sanctions on Those Responsible for Repression in Cuba and for Threats to United States National Security and Foreign Policy," on 1 May 2026. The order operationalises the country-specific national emergency declared by EO 14380 (29 January 2026) — which had been preserved after the SCOTUS *Learning Resources* vacatur of the IEEPA tariff authority — by establishing a sectoral OFAC blocking regime. Section 2 authorises asset-blocking against any foreign person determined by the Secretary of Treasury (in consultation with State) to operate in Cuba's energy, defense and related materiel, metals and mining, financial services, or security sectors, or "any other sector" subsequently designated. Section 3 suspends entry under INA § 212(f) for covered aliens. Section 4 authorises secondary sanctions against foreign financial institutions that knowingly conduct or facilitate significant transactions for blocked persons, with both correspondent-account and SDN-listing remedies. The EO itself includes no annex of named designations — those are issued by OFAC under separate determinations.

On May 1, 2026, the US Treasury's Office of Foreign Assets Control (OFAC) designated China-based independent ("teapot") refinery Hengli Petrochemical (Dalian) Refinery Co., Ltd. — described as China's second-largest teapot — together with approximately 40 shipping firms and vessels operating as part of Iran's shadow fleet. OFAC sanctioned 19 shadow-fleet vessels (crude, LPG, and petrochemical tankers) as blocked property of designated owners or managers. The action was taken under Executive Order 13902 (Iran petroleum and petrochemical sectors) in furtherance of National Security Presidential Memorandum-2 (NSPM-2) of February 4, 2025. Treasury press release SB0472. Concurrent with the designations, OFAC issued Iran-related General License W authorising the wind-down of transactions involving the persons newly blocked on May 1, 2026, and published a structurally novel Iran-related Alert, "Sanctions Risks of Iranian Demands for Strait of Hormuz Passage." The Alert states that payments to the Government of Iran or the IRGC — directly or indirectly — for safe passage through the Strait of Hormuz are not authorised for US persons (including US financial institutions) or US-owned/-controlled foreign entities. OFAC also issued new FAQ 1250 to accompany the Alert and GL W. The wave is one of the largest single-day Iran enforcement actions of the Trump 2.0 administration. Treasury characterises it as part of a campaign that has sanctioned over 1,000 Iran-related persons, vessels, and aircraft since February 2025. The Strait of Hormuz Alert is the operational US response to Iranian regulatory threats against the ~20% of global oil and ~25% of global LNG transiting Hormuz, putting tanker owners, P&I clubs, flag states, and oil-buyer compliance teams on direct notice.

Colombia's Ministry of Commerce, Industry and Tourism (MINCIT) imposed provisional anti-dumping duties on imports of annealed wire (alambre recocido) and galvanized wire (alambre galvanizado) originating in the People's Republic of China via Resolución No. 214 de 2026, published in the Diario Oficial. The measures apply as an ad valorem surcharge on the FOB value declared to DIAN and are valid for four months while the Subdirección de Prácticas Comerciales continues its investigation toward a definitive determination or archival. The investigation was initiated under Resolución No. 097 of 6 February 2026 and found significant dumping margins: annealed wire at USD 617.03/t FOB vs. a normal value of USD 796.51/t; galvanized wire at USD 674.67/t FOB vs. a reference value of USD 1,336.63/t (Italy benchmark).

On 30 April 2026, the UK Office of Financial Sanctions Implementation (OFSI), part of HM Treasury, imposed a £165,000 monetary penalty on Deutsche Bank AG London Branch (DBLB) for breaching regulation 12 of the Russia (Sanctions) (EU Exit) Regulations 2019. DBLB processed two payments totalling £635,618.75 in June and July 2022 to Okko LLC, a Russian streaming-platform operator wholly owned by sanctioned entity JSC New Opportunities. The breach arose because DBLB's third-party sanctions-screening provider failed to identify that Okko had become majority-owned by the designated entity post-listing. DBLB voluntarily disclosed the breach to OFSI in September 2022, qualifying for a 45% reduction from the £300,000 baseline penalty. This is the second resolution under OFSI's new Settlement Scheme (introduced February 2026) and the first involving a major investment-bank counterparty.

On April 30, 2026, the US Treasury's Office of Foreign Assets Control (OFAC) added former Democratic Republic of the Congo President Joseph Kabange Kabila to the Specially Designated Nationals (SDN) List pursuant to Executive Order 13413, as amended by Executive Order 13671 (the DRC sanctions program), for having materially assisted, sponsored, or provided financial, material, or technological support to the March 23 Movement (M23) and its political-military coalition the Congo River Alliance (Alliance Fleuve Congo, AFC). Treasury press release SB0480 ("Treasury Sanctions Former Democratic Republic of the Congo President for Ties to Armed Conflict") frames the designation as enforcement of the Washington-brokered DRC-Rwanda framework: M23 controls a substantial share of mineral-rich eastern DRC (cobalt, coltan, tin, tungsten, gold) and AFC's renewed rebellion has fuelled a mass-displacement crisis. The notice was published in the Federal Register on May 5, 2026 (FR Doc. 2026-08672). The designation blocks all property and interests in property of Kabila subject to US jurisdiction and prohibits US-person dealings with him. It is a discrete enforcement step under the broader US-DRC Strategic Partnership Agreement (4 December 2025 — the "Washington Accords") and complements earlier 2026 designations of Rwanda Defence Force-linked actors. Treasury frames the action as signalling that political support to M23/AFC, not just direct military or commercial activity, will trigger blocking sanctions.

The Office of the United States Trade Representative released the 2026 Special 301 Report on 30 April 2026, designating Vietnam as a Priority Foreign Country (PFC) — the most severe category under Section 182 of the Trade Act of 1974 (19 U.S.C. § 2242). This is the first PFC designation since Ukraine held the status from 2013 through 2015, a gap of approximately 11 years. The PFC designation triggers a statutory 30-day window (expiring ~30 May 2026) within which USTR must decide whether to initiate a Section 301 investigation under 19 U.S.C. § 2412(b)(2)(A), which could lead to tariffs, withdrawal of trade benefits, or other Section 301 enforcement remedies against Vietnam. Separately, the EU was added to the Watch List for the first time, citing AI training-data, geographical-indications, and customs-enforcement concerns.

Brazil's Secretariat of Foreign Trade (SECEX) issued Circular nº 33 on 29 April 2026, confirming a preliminary affirmative determination of dumping and material injury to the Brazilian domestic industry in imports of hot-rolled stainless steel flat products (thickness 2–50.8 mm, coils and sheets, NCM 7219 and 7220 headings) from China, India and Indonesia. Preliminary dumping margins are 50.1% (China), 25.3% (Indonesia) and 17.9% (India). Despite the affirmative finding, DECOM exercised discretion not to impose provisional anti-dumping duties at this stage, citing case complexity, the three-origin scope and the volume of submitted information; the final determination is scheduled for 25 November 2026.

Minister of Trade Regulation No. 12 of 2026, signed by Trade Minister Budi Santoso and effective on its date of promulgation (29 April 2026), is the fifth amendment to Permendag 23/2023 on Export Policy and Regulation. It introduces a new discretionary authority — distinct from administrative sanctions — for the Director General of Foreign Trade to suspend issuance of, freeze, and revoke Business Licensing in the Export Sector (Perizinan Berusaha di Bidang Ekspor), and to suspend verification / technical-tracing services. Crucially, it institutionalises cross-ministerial initiating authority: other ministries and agencies may formally propose suspension / freezing / revocation, with proposals reviewed in coordination meetings convened under the Coordinating Ministry for Economic Affairs or the Coordinating Ministry for Food Affairs. Decisions are issued via INATRADE / SINSW with automated notification to exporters. The stated rationale is protecting national interests, public welfare, government-programme implementation, and presidential directives — operationalised as safeguarding domestic supply of "certain goods" (palm oil, rice, sugar, mineral, and fertiliser categories cited in policy framing).

Prime Ministerial Decree No. 1440 of 2026 was published in Egypt's Official Gazette (Al-Waqa'i Al-Misriyya) on 6 May 2026 and entered into force on 7 May 2026. The decree amends the Executive Regulations of Mineral Resources Law No. 198 of 2014, replacing operative provisions previously governed by Prime Ministerial Decree No. 108 of 2020. Key changes include reducing the minimum government-equity floor for MRMIA participation in mining JVs from 25% to 10%, empowering MRMIA to incorporate or participate in specialised exploration and exploitation companies inside and outside Egypt, revising rental rates and royalty parameters, introducing a new laboratory-licensing regime, and adding land-use prohibitions around archaeological sites, airports, railways, and pipelines.

The Customs Tariff Commission of the State Council announced on April 28, 2026 that China will extend zero-tariff treatment (preferential tariff rate of 0%) to all 53 African countries with which it maintains diplomatic relations, effective May 1, 2026 through April 30, 2028. The measure adds 20 African non-LDC nations to the existing zero-tariff scheme already covering 33 African LDCs since December 2024, making China the first major economy to grant full-coverage zero-tariff access to all African diplomatic partners. Coverage extends to all tariff lines except out-of-quota products (where only in-quota rates move to zero); eSwatini is excluded as it maintains diplomatic relations with Taiwan rather than the PRC.

China's Ministry of Industry and Information Technology (MIIT) Raw Materials Industry Division opened a 30-day public consultation on 28 April 2026 on the Administrative Penalty Discretion Standards Table operationalising the State Council's Rare Earth Management Regulation (Order No. 785, in force 1 October 2024). The draft sets a tiered fines schedule for breaches across the entire mining → smelting → separation → sales value chain — fines up to five times "illegal gains" for production-quota breaches under 10%, escalating to product/equipment confiscation and licence revocation for breaches over 30%. Traceability-reporting failures under MIIT's national rare-earth traceability platform are penalised separately with fines up to ten times illegal gains. Comments close 28 May 2026.

The Directorate General of Trade Remedies (DGTR) issued final findings dated 28 April 2026 in the anti-dumping investigation concerning imports of Low Ash Metallurgical Coke (ash content ≤ 18%, HS 27040010, 27040020, 27040030, 27040090) originating in or exported from Australia, China PR, Colombia, Indonesia, Japan and Russia, recommending a downward revision of the provisional anti-dumping duties previously imposed by Notification No. 41/2025-Customs (ADD) of 31 December 2025. The final findings are recommendatory; a definitive implementing customs notification from CBIC is expected before the provisional measures expire around June 2026. Significant reductions in duty rates are recommended for Indonesian and Japanese origin imports; the investigation covers six coke-exporting countries competing with domestic producers led by Tata Steel, JSW Steel, SAIL, Jindal Steel (JSPL) and AMNS India.

The Council of the EU renewed the Myanmar/Burma restrictive measures framework for a further 12 months through 30 April 2027 via Council Decision (CFSP) 2026/927 and Implementing Regulation (EU) 2026/926, both adopted 27 April 2026. The regime remains substantively unchanged: asset freezes, travel bans, and service prohibitions on 105 individuals and 22 entities, including junta-linked actors with documented involvement in mineral resource extraction (Myanmar Mining Enterprise No. 1 and No. 2). This is the first EU Myanmar sanctions action filed in the IPTM register; the parallel US programme (EO 14014 / 31 CFR Part 525) targeting the same mining enterprises is tracked under the us-burma-sanctions-perimeter theme.

India and New Zealand signed their first bilateral Free Trade Agreement on 27 April 2026 in New Delhi. New Zealand grants duty-free access to 100% of Indian exports from day one, while India eliminates tariffs on ~95% of New Zealand exports — covering kiwifruit, apples, meat, wool, coal and forestry products — with core dairy (butter, cheese) carved out and milk albumins receiving a 50% tariff cut under quota. Negotiations launched in March 2025 and were concluded in 9 months. The package includes a NZ commitment to invest USD 20 billion in India over 15-20 years and ~5,000 annual Indian work visas for IT, engineering, healthcare, education, construction, traditional medicine, yoga and culinary professions; bilateral trade is targeted to double to USD 5 billion within five years. The agreement is signed but not yet in force pending ratification.

Mozambique's National Mining Institute (INAMI) presented a draft revision of the country's mining law for public consultation, with parliamentary debate scheduled for 7 May 2026. The bill mandates that the state hold a minimum 15% equity stake in all mining projects (raisable on a project-by-project basis), reserves "strategic minerals" exclusively for the state mining company Empresa Nacional de Minas (ENM), prohibits the export of unprocessed minerals (forcing in-country processing), caps concessions at 25 years, and channels 10% of mining revenues to a local development fund for the province, district, and community where operations occur. Implementation is not expected before 2027 to allow development of secondary regulations and ENM institutional build-out. This is the flagship economic-policy instrument of President Daniel Chapo's January 2025 mining and oil/gas restructuring agenda.

Taiwan's Ministry of Economic Affairs established the Quantum Industry Technology Promotion Office (QITPO) on April 27, 2026, as the government's primary vehicle to develop Taiwan's role in the global quantum supply chain beyond its established "Silicon Island" semiconductor position. QITPO is mandated across three axes: supporting Taiwanese manufacturers' technical capabilities in early-stage quantum development ("Quantum Taiwan" initiative); creating a cross-sector exchange platform between industry, academia, and research institutions; and attracting global quantum companies to establish R&D centres in Taiwan. Eighteen Taiwanese companies participated in the launch event.

On 27 April 2026, US Assistant Secretary of State Caleb Orr and Bolivian Mining Minister Marco Antonio Calderón signed a Critical Minerals Memorandum of Understanding in Washington DC, establishing a non-binding cooperation framework targeting lithium, cobalt, and copper supply chains. The MoU is the first major bilateral economic instrument between the US and Bolivia since the 2008–09 expulsion of the US Ambassador, marking a strategic realignment by the post-Paz government toward Western investment partnerships. The agreement commits both governments to attract private-sector investment to Bolivia's critical-minerals endowment — including the Salar de Uyuni lithium resource (~21 Mt LCE, world's largest identified reserve) — as operational follow-through to Bolivia's February 2026 Critical Minerals Ministerial participation and the FORGE launch. It runs in parallel with Bolivia's domestic Proyecto de Ley del Litio (filed December 2025), which would open extraction-stage YLB operations to private partnership and introduce a progressive royalty structure.

On 26 April 2026, the UAE Cabinet, chaired by Vice President and Prime Minister Sheikh Mohammed bin Rashid Al Maktoum, approved a four-part industrial-resilience package: (i) a National Industrial Resilience Fund with AED 1 billion (~USD 272m) capital managed by Emirates Development Bank over five years covering food industries, manufacturing, primary metals, mechanical/electrical/chemical industries, pharmaceuticals and medical supplies, advanced technology, and construction — designed to localise over 5,000 critical products and link confirmed procurement demand with targeted financing for local manufacturers; (ii) structural overhaul of the National In-Country Value (ICV) Programme, transitioning it from incentive-based to MANDATORY across federal entities and companies in which the government holds 25% or more; (iii) a National Product Retail Presence Policy strengthening visibility of UAE-manufactured goods in retail and digital channels (Phase 1: bottled water, dairy, eggs, poultry, bread, flour, vegetable oils, seasonal vegetables); and (iv) a National Industrial Data Committee chaired by Hasan Jassim Al Nowais (Undersecretary, MoIAT), with AI-driven forecasting and risk management integrated into industrial-resilience monitoring.

President Félix Tshisekedi mandated a 30-day audit at the 87th Council of Ministers (April 24, 2026) to track DRC mining export revenues from shipment through foreign-currency repatriation to government receipt, targeting copper and cobalt — the country's two dominant export minerals. The directive responds to a systemic gap between record 2025 export volumes (~3.4 Mt copper, ~220 kt cobalt) and proportional state revenue collection, and builds on a prior audit that identified ~$16.8 billion in underreported revenues between 2018 and 2023. Initial findings are due no later than June 15, 2026, and enforcement exposure is concentrated on the major vertically integrated operators — Glencore, CMOC, and Ivanhoe Mines.

The European Commission and the US announced on 24 April 2026 the signing of a Memorandum of Understanding (MoU) on a strategic partnership on critical minerals, accompanied by an EU-US Critical Minerals Action Plan. The framework deepens cooperation on supply-chain security across the strategic raw-materials list shared between the two jurisdictions — joint financing, recycling, mutual recognition of strategic- project status under the EU Critical Raw Materials Act (filed: 2024-05-23-eu-crma-entry-into-force) and US IRA §30D / §45X frameworks (filed: 2022-08-16-us-inflation-reduction-act). The agreement is positioned as a joint response to non-market practices in third-country supply chains for the named materials.

On April 24, 2026, the US Treasury's Office of Foreign Assets Control (OFAC) added 19 entities and 19 vessels to the Specially Designated Nationals (SDN) List under Executive Order 13902 (Iran petroleum and petrochemical sectors), in furtherance of National Security Presidential Memorandum-2 (NSPM-2) of February 4, 2025. The action is the first OFAC designation of a Chinese independent ("teapot") refinery — Hengli Petrochemical (Dalian) Refinery Co., Ltd., described as one of Iran's largest single customers for crude oil and petroleum products, having purchased billions of US dollars' worth since at least 2023 from cargoes brokered by Sepehr Energy Jahan Nama Pars Company (the oil sales arm of Iran's Armed Forces General Staff, controlled by the Ministry of Defense / MODAFL). Co-designations span shipping firms and vessels registered in China, Hong Kong, Panama, Marshall Islands, Liberia, and Vietnam. Concurrent with the designations, OFAC issued Iran-related General License V authorising a 30-day wind-down (through May 24, 2026) of transactions involving Hengli Petrochemical (Dalian) Refinery Co., Ltd. and certain majority-owned entities. Treasury press release SB0472 ("Economic Fury Targets Global Network Fueling Iran's Oil Trade and Shadow Fleet") frames the action as part of the maximum-pressure campaign that has sanctioned over 1,000 Iran-related persons, vessels, and aircraft since February 2025. The April 24 designations directly triggered the first-ever operational use of China's Blocking Rules (MOFCOM Announcement No. 21 of May 2, 2026) and preceded a second OFAC Iran wave on May 1, 2026 (General License W + Strait of Hormuz Sanctions Risk Alert).

On 23 April 2026, the Council of the European Union adopted the 20th package of restrictive measures against Russia, anchored by Council Regulation (EU) 2026/506 amending Regulation 833/2014 (sectoral sanctions) and Council Regulation (EU) 2026/511 amending Regulation 269/2014 (asset-freeze listings — 120 additional individuals and entities, the largest single tranche in two years). The package operationalises and extends the crypto-sanctions architecture introduced in the 19th package and constructs the legal scaffolding for a future full prohibition on maritime services to vessels carrying Russian crude/petroleum products. Headline measures: (i) full sectoral prohibition on transactions with crypto-asset service providers and exchange platforms established in Russia or Belarus, plus designation of the rouble-backed stablecoin RUBx and the digital rouble (CBDC) on Annex LIII — effective 24 May 2026, with EU support for the digital rouble's development banned outright; (ii) 36 new energy-sector listings spanning upstream extraction, refining and transportation; (iii) prohibition on providing technical, financial, brokering and insurance services to Russia-flagged, Russian-certified or Russian-managed LNG tankers and icebreakers effective 25 April 2026, extending to foreign-flagged vessels operating in Russian interests by January 2027 and culminating in a categorical ban on LNG terminal services to Russian-controlled entities on 1 January 2027; (iv) full transaction ban on 20 Russian banks plus four third-country banks listed for SPFS connectivity / sanctions circumvention; (v) 46 newly listed shadow-fleet vessels and new tanker sale-due-diligence obligations on EU shipping operators; (vi) 58 designations of companies and associated individuals in the Russian military-industrial complex including drone developers/manufacturers; (vii) further Annex IV third-country circumvention enabler listings (China, Hong Kong, Turkey, UAE); (viii) parallel measures against Belarus. Entry into force on 24 April 2026 (day following publication in OJ L_202600506), except for measures with explicit deferred application dates.