Friday News Analysis — August 17, 2018 CFIUS Reform in the FY19 NDAA; Turkey in Turmoil; & Other Stories You May Have Missed

Reforms to CFIUS Reflect Future Security Challenges

Dan Mahaffee

Wikimedia Commons Image
  • Real estate transactions near sensitive national security locations;
  • Investments in companies related to critical technologies or critical infrastructure;
  • Changes in ownership structure that could result in foreign ownership; and
  • Any transaction that CFIUS believes is structured to avoid CFIUS review.

Turkey is Running Aground

Michael Stecher

White House Photo

Other Stories You May Have Missed

  • Last week we mentioned the ongoing turmoil in Venezuela and the collapse of that nation’s economy. Late last week, a federal court in Delaware ruled that the U.S. assets of Petróleos de Venezuela SA (PdVSA) could be claimed by creditors who have been unpaid by the bankrupt Venezuelan state. As a result, the assets of Citgo—the U.S. refining and retail arm of PdVSA much beloved by Boston Red Sox fans—could potentially be seized by creditors. While the Venezuelan government is appealing the ruling, it represents a serious challenge for the cash-strapped nation and raised doubts about PdVSA bonds on international markets that are backed by Citgo shares as collateral.
  • The U.S. Bureau of Reclamation warned that the water levels in Lake Mead could fall below an important threshold by 2020, threatening water supplies for up to the 40 million people—and the farmers and industries—who rely on the Colorado River for water.
  • While there was back-and-forth today between President Trump and the government of the District of Columbia regarding the rising cost of the now-postponed, possibly-canceled military parade in Washington, D.C., it is worth noting that the cost of the parade had skyrocketed from early estimates of $12 million to $92 million. As a point of comparison, the now-canceled U.S.-South Korea military exercises—canceled by President Trump for being provactive and “tremendously expensive”—would have cost $14 million.

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