On June 2, 2022, the Department of Commerce’s Bureau of Industry and Security (BIS) issued a Final Rule adding 71 entities located in Russia and Belarus to the Entity List in further response to Russia’s invasion of Ukraine. These entities have been determined by the U.S. government to be acting contrary to the national security
OFAC Designates Additional Russian Entities and Persons and Issues Russia-Related General Licenses
On June 2, 2022, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated and blocked numerous additional Russian and related entities that are “key networks” relied upon by President Vladimir Putin and other Russian elites “to attempt to hide and move money and anonymously make use of luxury assets around the globe.”
BIS Issues Rule for Congressional Notification of Exports of Certain Semiautomatic Firearms
On June 1, 2022, the Department of Commerce’s Bureau of Industry and Security (BIS) issued a Final Rule amending the Export Administration Regulations (EAR) to adopt a congressional notification requirement for license applications of semiautomatic firearms meeting certain requirements. This final rule is effective on July 18, 2022.
This Final Rule adds a new section
OFAC Again Extends Venezuela General License for Limited Maintenance or Wind-Down of Transactions Involving PdVSA and Certain Entities
On May 27, 2022, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued Venezuela-related General License 8J, extending authorization until December 1 for certain activities previously authorized under General License 8I. General License 8J authorizes the continuation of transactions and activities “ordinarily incident and necessary to the limited maintenance of essential
Provision of Certain Professional Services to Russia Prohibited under U.S. Sanctions
Key Notes:
- Persons, including non-U.S. persons, providing accounting, trust and corporate formation, and management consulting services in Russia may be added to the SDN List.
- U.S. persons are prohibited from providing these same services to Russian persons unless the recipient of the services is the subsidiary of a U.S. person.
The Department of the Treasury’s
OFAC Imposes Additional Sanctions on Russian Telecommunications, Shipping and Defense Companies
On May 8, 2022, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) implemented additional sanctions on several sectors of the Russian economy. OFAC designated three Russian telecommunications companies and placed them on the Specially Designated Nationals (SDN) list, noting that they are Russian state-controlled television stations generating revenue for the Russian government.
BIS Expands Russian Export Controls: Significant Expansion of Supplement No. 4 List
The Department of Commerce’s Bureau of Industry and Security (BIS) issued on May 9, 2022, a Final Rule that greatly expands the list of items requiring a license to export to Russia. The export restrictions impact a broad range of inputs and products including wood products, industrial engines, boilers, motors, fans, and ventilation equipment, bulldozers,
BIS Creates Russia Export Control Resources Web Page
The Department of Commerce’s Bureau of Industry and Security (BIS) has created a web page offering “Resources on Export Controls Implemented in Response to Russia’s Invasion of Ukraine.” The web page provides convenient links to relevant BIS press releases, fact sheets, and Federal Register notices related to BIS actions involving export controls and
OFAC Adds Russian Entities to SDN List and Issues General Licenses for Certain Activities
The Department of the Treasury’s Office of Foreign Assets Control (OFAC) has added multiple new entities and persons to its Specially Designated Nationals (SDN) List after determining that they were involved in attempts to evade U.S. sanctions put in place as a result of Russia’s invasion of Ukraine. OFAC has designated Russian commercial bank PJSC
Russia Sanctions Disrupt Automotive Supply Chains and Production
As of February 22, 2022, President Biden and the Departments of State, Commerce and the Treasury have implemented an array of sanctions and export controls severely restricting international trade and financing involving Russia, Ukraine and Belarus in response to the Russian invasion of Ukraine. These have been primarily imposed and implemented pursuant to executive orders,