This is Queen Street Analytics' weekly digest of regulatory developments, legislative discussions, political announcements and other government-related news coverings foreign affairs and international relations. Once a week, we break down the most important updates in this space in under five minutes.

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Dates: 2026-03-22 to 2026-03-28

📋 In This Week's Newsletter

• 🇺🇸 Federal Government News
• 📜 Legislative Updates
• 📚 What We're Reading This Week

Federal Government News

Global Magnitsky Human Rights Accountability Act Annual Report Released

The U.S. Department of State published the 2025 annual report for the Global Magnitsky Human Rights Accountability Act. Three foreign persons were newly designated, increasing the cumulative total to 744. Among the designations, sanctions were imposed on individuals and entities from Brazil, Burma, and Hungary for involvement in corruption, human trafficking, and abuses related to scam operations. Selected designations were later removed from the SDN list following subsequent reviews. Visa restrictions are applied under several authorities, including Presidential Proclamation 8693 and Section 7031(c). The U.S. continues joint efforts with Australia, Canada, the European Union, and the United Kingdom to coordinate and extend sanction effects.

Sources: www.federalregister.gov

Notice of OFAC Sanctions Action

The Treasury Department's Office of Foreign Assets Control (OFAC) issued a notice regarding the addition of individuals and entities to the Specially Designated Nationals and Blocked Persons List (SDN List) on March 20, 2026. All property and interests in property under U.S. jurisdiction belonging to the designated parties are frozen, with U.S. persons generally prohibited from conducting transactions. The detailed list and further information are available on the OFAC website.

Sources: www.federalregister.gov

Initiation of Circumvention Inquiry on Vietnamese Corrosion-Resistant Steel via Indonesia

The Department of Commerce initiated a circumvention inquiry to determine if imports of corrosion-resistant steel products completed in Indonesia using cold-rolled steel manufactured in Vietnam are evading antidumping and countervailing duty orders. Commerce will engage companies in Indonesia for information about production processes and trade patterns, using Customs data for respondent selection. Preliminary determination is scheduled within 150 days, and a final determination within 300 days, unless extended or rescinded.

Sources: www.federalregister.gov

President Trump Issues Executive Order on DEI Practices for Federal Contractors

President Donald J. Trump signed an Executive Order prohibiting racially discriminatory diversity, equity, and inclusion (DEI) activities in federal contracting and employment. The Order requires federal contracts to include clauses banning discriminatory DEI practices, empowers agencies to penalize non-compliant contractors, and directs the Federal Acquisition Regulatory Council to revise regulations. OMB will monitor compliance, and enforcement actions are prioritized under the False Claims Act.

Sources: www.whitehouse.gov

Delegation of Authority to the Under Secretary for Foreign Assistance, Humanitarian Affairs, and Religious Freedom

Secretary of State Marco A. Rubio issued Delegation of Authority No. 597-1, transferring a broad range of authorities to the Under Secretary for Foreign Assistance, Humanitarian Affairs, and Religious Freedom. The delegation covers authorities previously vested in several senior officials and coordinators and is published under the State Department Basic Authorities Act. The Secretary, Deputy Secretary, and Deputy Secretary for Management and Resources retain the right to exercise any delegated powers.

Sources: www.federalregister.gov

Legislative Updates

To impose sanctions with respect to Rosatom, and for other purposes.

Bill 8106 proposes new sanctions targeting Rosatom and related entities. The bill was referred to the Committee on Foreign Affairs and the Committee on Financial Services for review.

Sources: www.congress.gov

Strengthening Exports Against China Act

Senate bill 753 seeks to expand restrictions on U.S. exports to China in sectors tied to foreign trade and international finance. The Senate Banking, Housing, and Urban Affairs Committee held hearings on this measure.

Sources: www.congress.gov

A bill to require the Comptroller General of the United States to submit a report on arms delivery delays in the Indo-Pacific

Bill 4223 requires the Comptroller General to assess how delays in arms deliveries to Japan, Taiwan, and the Philippines influence U.S. denial defense capabilities in the First Island Chain. The bill was referred to the Committee on Foreign Relations.

Sources: www.congress.gov

A bill to encourage Hungary to end its reliance on Russian energy and prevent obstruction of assistance to Ukraine

Bill 4275 focuses on Hungary's reliance on Russian energy and its stance on security and financial assistance to Ukraine. It was read twice and referred to the Committee on Foreign Relations.

Sources: www.congress.gov

A bill to promote secure and resilient Unmanned Aerial Systems (UAS) for Taiwan

Bill 4259 supports the development and deployment of secure UAS to bolster U.S. national security and enhance Taiwan's defense. The measure was referred to the Committee on Foreign Relations.

Sources: www.congress.gov

What We're Reading This Week

• Iran War: Five Things to Know: Overview of key developments in Iran's conflict and their international ripple effects.
• The Back-Channel Diplomacy Behind Trump’s U-Turn on Iran: WSJ explores diplomatic maneuvering that shaped recent U.S. policy changes toward Iran.
• Zelenskyy offers cutting-edge drone defense to Gulf allies as Ukraine seeks missile support: Ukraine proposes advanced drone defense collaborations in exchange for missile assistance from Gulf states.
• Monopoly Round-Up: Manipulating the Stock Market Is Trump's War Strategy: NYT examines links between U.S. war strategy and economic manipulation during the Iran conflict.
• Russia's Iran War Windfall in Perspective: The Overshoot reviews Russia's gains amid the ongoing war with Iran.
• The Small Town Connecting Asia to the World: Sinical China spotlights a town acting as a major Asian logistics hub.

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