Key Notes:

  • New sanctions and export controls on Russia and Belarus became effective June 12, 2024.
  • New OFAC prohibition on certain IT and software services to Russia begins September 12, 2024.
  • Hundreds of individuals and entities designated as SDNs for supporting Russia’s war efforts.
  • New license requirements for certain software exports to Russia and Belarus become effective September 16, 2024.
  • BIS narrows License Exception Consumer Communications Devices (CCD) for Russia and Belarus.
  • BIS adds high-risk addresses and more entities to Entity List, enhancing screening and export control evasion prevention.
  • Over 500 HTS codes added to license requirement lists for Russia and Belarus.

On June 12, 2024, the Office of Foreign Assets Control (OFAC) and the Bureau of Industry and Security (BIS) announced new sanctions and export control restrictions on Russia and Belarus. These measures have significant implications for companies that do business with or in these regions, as they may face new licensing requirements, limitations, or prohibitions on their transactions and operations.

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