On May 23, 2022, the U.S. Departments of State, the Treasury, Commerce, and Labor issued a joint advisory for U.S. businesses operating in Sudan. The advisory highlights the risks associated with conducting business with Sudan’s state-owned enterprises (“SOEs”), which are effectively controlled by the Sudanese military since its seizure of power on October 25, 2021.
BIS Finalizes Cybersecurity Export Control Rule
On May 26, 2022, the Department of Commerce’s Bureau of Industry and Security (BIS) issued a Final Rule regarding export controls on certain cybersecurity items for national security and anti-terrorism reasons. Originally issued as an interim Final Rule in October 2021 (see Update of October 25, 2021), BIS implemented these export controls due
United States Announces Formation of Indo-Pacific Economic Framework
On May 23, 2022, the United States and several allies in the Asia-Pacific-India region announced the launch of the Indo-Pacific Economic Framework for Prosperity (IPEF) to pursue regional economic engagement. Secretary of Commerce Gina Raimondo stated, “This framework will enable the United States to expand its economic leadership in the Indo-Pacific and work with our
OFAC Issues Syria General License Authorizing Certain Activities in Non-Regime Held Areas of Northeast and Northwest Syria
On May 12, 2022, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued Syria General License (GL) 22, which authorizes certain transactions, including processing or transfer of funds on behalf of third-country entities, otherwise prohibited under the Syrian Sanctions Regulations (SSR) that are ordinarily incident and necessary to activities in the
OFAC Issues Russia-Related General Licenses Regarding Certain Banks and Gazprom Germania GmbH
The Department of the Treasury’s Office of Foreign Assets Control (OFAC) recently issued several Russia-related general licenses under the Russian Harmful Foreign Activities Sanctions Regulations, 31 C.F.R. Part 587 (RuHSR). These licenses authorize certain activities which would otherwise be prohibited under OFAC sanctions toward Russia:
GL 26A extends until July 12, 2022 existing authorizations for
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
U.S. International Trade Commission to Investigate Effects of Section 232 and Section 301 Tariffs on U.S. Industries
On May 5, 2022, the U.S. International Trade Commission (ITC) announced the initiation of a general factfinding investigation that will examine the impact of tariffs on U.S. imports under section 232 of the Trade Expansion Act of 1962 and section 301 of the Trade Act of 1974 in effect as of March 15, 2022. The