The Defense Security Cooperation Agency has broadened third-party financing options under the U.S. Foreign Military Sales program by allowing partner nations the use of letters of credit in their purchases. The new Bank Letter of Credit policy follows the Credit Assured Payment Schedules term of sale codified in January providing FMS partners with a standby...
President Joe Biden signed an executive order Wednesday authorizing the Department of the Treasury to regulate U.S. technology investments in China and other countries of concern. The regulatory measure covers three technological sectors sensitive to national security, namely: semiconductors and microelectronics, quantum information technologies, and artificial intelligence. The EO follows extensive and thorough consultations by...
A joint statement of the inaugural U.S.-Iraq Joint Security Cooperation Dialogue released Tuesday reaffirmed the two countries’ commitment to security cooperation and common interest in regional stability. Delegations from the Department of Defense and the Iraqi Ministry of Defense attended the dialogue in Washington, D.C. from Aug. 7 to 8. The dialogue discussed opportunities for...
Funding the technology to maintain proper munitions stockpiles outlined in the UK Defence Command Paper 2023 is the biggest challenge facing the British armed forces, Gary Waterfall, retired Royal Air Force air vice marshal, told Defense News. Deterrence before enemy threats occur, also cited in the document, has to be available at the military’s moment...
The United States has budgeted $26 million for the construction of a U.S. Air Force mission planning and operation center in Darwin, ABC News reported, citing U.S. budget filings. The facility is expected to expand American military assets in northern Australia, a growing presence seen as a proactive move against China’s military buildup. According to...
The U.S. government has approved Finland’s purchase of the “David’s Sling” missile system that the United States jointly developed with Israel, the Israeli Ministry of Defense announced Wednesday. The Finnish purchase is worth approximately $346.75 million, with Israel as the seller under the procurement agreement. The U.S. Missile Defense Agency and Israel’s Missile Defense Organization...
The Committee on Foreign Investment in the United States reviewed a total of 440 filings in 2022, compared with 436 in 2021. The Department of the Treasury, in a report it issued as CFIUS chair, said the record number of filings was based on the expanded export controls under FIRRMA, mandatory filings in some cases...
