Bessent Criticizes Commerce Department Over Megaspeed Sanctions Delay

• •Treasury Secretary Bessent criticized the Commerce Department for delaying Megaspeed sanctions.
• •Nvidia faces scrutiny over its customer vetting processes amid allegations of aiding Chinese espionage.
• •Congress is accelerating investigations into the matter, with hearings scheduled for December.

On November 13, 2026, U.S. Treasury Secretary Scott Bessent publicly criticized the Commerce Department for delaying sanctions against Megaspeed, a Singapore-based cloud computing firm suspected of circumventing U.S. export controls to supply advanced semiconductors to China. Bessent stated that multiple agencies, including the Treasury and State Departments, had advocated for adding Megaspeed to the Entity List for months, but the final decision rests with the Commerce Department. He emphasized that the government has the authority to enforce these sanctions but highlighted a failure in execution. The controversy intensified following the resignation of Nvidia's CEO Jensen Huang, who faced scrutiny over his ties to a former Megaspeed executive suspected of espionage. Congress is also investigating the matter, with hearings scheduled for December 2026. Bessent called for accountability from Nvidia regarding its customer vetting processes, stressing the importance of preventing sales to companies that could facilitate leaks of sensitive technology.