Trade and Manufacturing Monitor
U.S. Announces Additional Round of Russia & Belarus Trade Restrictions; Closes Airspace to Russia (UPDATED)
March 4, 2022 Update: This post was updated after BIS published new export controls on oil and gas equipment and Entity List sanctions on firms related to the Russian defense industry. Today, the United States…
European Union Imposes Export Controls, Sanctions, and Import Prohibitions on Belarus
Today, the European Union imposed sweeping export controls and sanctions on Belarus. The export restrictions follows a similar template to the recent ban imposed against Russia. Namely, the EU measure prohibits trade…
U.S. Imposes Sanctions Targeting Belarusian Banking and Defense Sectors, Belarusian Officials
Today, the Treasury Department’s Office of Foreign Assets Control (OFAC) imposed blocking sanctions on 24 Belarusian individuals and entities for supporting or otherwise facilitating Russia’s actions in Ukraine,…
U.S. Companies Must Wind Down Transactions with Sanctioned Belarusian State-Owned Enterprises By June 3rd
The Office of Foreign Assets Control (“OFAC”) recently tightened sanctions on Belarus by revoking and replacing General License 2G with General License 2H. General License 2H now requires U.S. persons to wind down…
OFAC Extends Sanctions Relief for Belarussian Conglomerates
Today the Office Foreign Assets Control (OFAC) extended sanctions relief for nine Belarussian conglomerates, including Belneftekhim. OFAC has authorized transactions with the listed Belarussian Specially Designated…