2022

On March 24, 2022, President Joseph Biden announced further sanctions toward Russia involving more than 400 individuals and entities, including the Russian Duma and its members, several additional Russian oligarchs, and numerous Russian defense companies.  The sanctions were carried out pursuant to Executive Order 14024 which authorizes sanctions against Russia for its harmful foreign activities. …

On March 23, 2022, the Office of the U.S. Trade Representative (USTR) announced that it was reinstating certain previously granted and extended product exclusions in the China Section 301 investigation. Per the Federal Register notice, USTR has reinstated 352 of the 549 eligible exclusions identified in the October 8, 2021 USTR Federal Register notice…

On March 22, 2022, the United States and the United Kingdom reached agreement on allowing “sustainable volumes” of UK steel and aluminum products to enter the U.S. market without the application of Section 232 tariffs. The Joint Statement notes that both the United States and UK will monitor steel and aluminum trade between the countries…

On March 18, 2022, the Department of the Commerce’s Bureau of Industry and Security (BIS) identified nearly 100 commercial and private aircraft that have allegedly “flown into Russia in apparent violations of the Export administration Regulations (EAR).” The list identifies planes owned by Russian airlines Aeroflot, AirBridgeCargo and Utair as well as Russian oligarch Roman…

On March 11, 2022, President Joseph Biden issued an Executive Order (EO) announcing further prohibitions on imports, exports and new investments related to Russia. This announcement was made at the same time that the president and the other G7 leaders of Canada, France, Germany, Italy, Japan and the United Kingdom, as well as the European…

On March 11, 2022, President Biden called on Congress to pass legislation that will revoke normal trade relations (NTR) with Russia, and announced that the administration “will work closely with Congress to deny Russia the benefits of its WTO membership and ensure that Russian imports do not receive most favored nation treatment” in the U.S.…

Key Notes:

  • OFAC implemented blocking and other sanctions against major Russian and Belarusian financial institutions.
  • OFAC implemented blocking and other sanctions against state-owned enterprises, prominent government officials and other persons or entities.
  • OFAC implemented blocking sanctions targeting involvement in the Nord Stream 2 pipeline.
  • OFAC implemented sanctions related to Russian government debt.
  • The United States

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On March 1, 2022, the Office of the U.S. Trade Representative (USTR) released President Joe Biden’s 2022 Trade Agenda and 2021 Annual Report.  The trade agenda highlights President Biden’s continued focus on a “worker-centered trade policy” by “promoting a broader agenda of fair competition to ensure that workers are competing on the basis of…

On March 8, 2022, President Joseph Biden signed an Executive Order banning the import into the United States of Russian oil, liquefied natural gas, and coal. The Executive Order bans:

  • The importation into the United States of Russian-origin crude oil; petroleum; petroleum fuels, oils, and products of their distillation; liquefied natural gas; coal; and coal

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On March 3, 2022, the State Department announced that the United States was sanctioning certain Russian companies deemed to design, develop, and produce items that the Russian military is using to attack Ukraine. Specifically, the following 21 entities are being designated pursuant to E.O. 14024, because “they are persons who operate or have operated in…