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.

Want to track other GR news in related areas? Don't miss this week's updates in Defense and Social Issues.

Dates: 2026-01-17 to 2026-01-23

📋 In This Week's Newsletter

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

This Week's Congressional Calendar

• Senate Foreign Relations Committee: Business Meeting on Russia Sanctions, Taiwan Energy, and Nominations: The Senate Foreign Relations Committee will meet on January 29, 2026, to address legislation on sanctions against Russia’s shadow fleet, energy security for Taiwan, support for undersea cable security, and U.S. foreign assistance. Nominee considerations for ambassador roles and counterterrorism are also scheduled.
• Senate Judiciary Committee: Hearings on the Foreign Intelligence Surveillance Act (FISA) and Executive Accountability: The Senate Judiciary Committee is slated for hearings on January 28, 2026, focusing on the Foreign Intelligence Surveillance Act and oversight of executive accountability.
• Senate Foreign Relations Committee: Hearing on U.S. Policy Towards Venezuela: On January 28, 2026, the Senate Foreign Relations Committee will convene in Dirksen 419 to review and debate current U.S. policy approaches regarding Venezuela.

Federal Government News

White House Establishes Board of Peace to Oversee Gaza Reconstruction and Transition

President Trump ratified the Charter of the Board of Peace during a ceremony in Davos, Switzerland, formally creating it as a public international organization focused on Gaza. As Chairman, Trump outlined plans to mobilize global resources for demilitarization, governance reform, and reconstruction initiatives in the region. Secretary of State Marco Rubio and High Representative Nickolay Mladenov described the event as a shift from conflict to new opportunities for Gazans. The Board is tasked with managing peace implementation, economic reforms, and accountability mechanisms. Jared Kushner commented on planned economic initiatives supporting rebuilding and investment, while Special Envoy Steve Witkoff noted the board's role in post-conflict governance. The move formalizes U.S. and international engagement in Gaza’s future transition from military conflict.

Sources: www.whitehouse.gov

OFAC Adds Russian Energy Firms to SDN List under Executive Order 14024

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) listed several Russian firms and subsidiaries operating in Russia’s energy sector on the Specially Designated Nationals (SDN) list. The action, pursuant to Executive Order 14024, blocks all U.S.-controlled property and prohibits transactions involving these entities, including Lukoil Perm, Lukoil Aik, and numerous Rosneft affiliates. OFAC identified secondary sanctions risks for non-U.S. parties engaging with the listed entities. Additional measures were noted in relation to previously sanctioned activities under both EO 14024 and Ukraine-related authorities. The designations affect oil production, refining, and trading operations connected to Russia’s economy.

Sources: www.federalregister.gov

OFAC Sanctions Actions Target Yemen-Linked Petroleum and Shipping

OFAC announced additional sanctions against individuals and entities accused of materially supporting Ansarallah in Yemen. The SDN List was updated to include entities such as ADEEMA Oil FZC, AL SHARAFI Oil Companies Services, and Alsaa Petroleum and Shipping FZC, based in the UAE and Yemen, as well as shipping firm Albarrq Shipping Co headquartered in the Marshall Islands. A Dubai-based vessel, ALBARRAQ Z, was also designated. The U.S. cited the provision of material support to blocked persons and organizations as the basis for these new actions.

Sources: www.federalregister.gov

State Department Reports to Congress on Iran’s Use of Strategic Materials under FY13 NDAA

The State Department delivered its regular report to Congress under the National Defense Authorization Act for Fiscal Year 2013, focusing on Iran’s use of raw or semi-finished metals subject to the Iran Freedom and Counter-Proliferation Act. Covering the period from January to June 2025, the Deputy Secretary of State found no evidence that Iran used sanctioned materials as a medium of exchange or as assets on its national balance sheet. No additional sectors were identified as being controlled by the Islamic Revolutionary Guard Corps. The report noted that Aluminum 5052, including honeycomb forms, was used in Iran’s nuclear, military, or ballistic missile programs during this period.

Sources: www.federalregister.gov

President Trump Designates Board of Peace as Public International Organization

President Trump signed Executive Order 14375, officially designating the Board of Peace as a public international organization entitled to privileges and immunities under the International Organizations Immunities Act. The order specifies that the Board, now recognized under U.S. law, will receive exemptions and protections consistent with its status, with implementation to proceed in light of relevant appropriations and governing legal authority. The Department of State will oversee publication and enforcement of the order.

Sources: www.federalregister.gov

Legislative Updates

House Bill 982: Warriors to Workforce Act Advances to Subcommittee Hearings

The House of Representatives is reviewing H.R. 982, the Warriors to Workforce Act, in the Armed Forces and National Security policy area. The latest action recorded is a subcommittee hearing to consider provisions regarding workforce transitions for veterans.

Sources: www.congress.gov

What We're Reading This Week

• It’s the new toughest job in international diplomacy: Meet the man who’s taking it on: CNN profiles Nickolay Mladenov and his leadership role in Gaza’s post-conflict transition.
• Greenland Clash Risks Undermining America’s Place in World Economic Order - WSJ: WSJ examines how U.S. investment and resource competition in Greenland impacts international economic dynamics.
• "It's Not Great Power Politics. It's Old-Style Imperialism": SCMP features John Mearsheimer’s views on U.S. geopolitical strategies in Iran and Venezuela.
• Well Europe, Do You Get It Finally? Standing Up To Trump Works Better Than Prostrating Yourself: Newsletter commentary discusses recent European responses to Trump administration foreign policy.
• Anne Sofie Allarp: Trump has noticed Greenland's own political fault lines: Analysis on American diplomatic approaches to internal political shifts in Greenland.
• Times of India reports on shifting Canada-China relations amid U.S. policy changes.

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