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 announced another round of significant sanctions and export control restrictions on Russia and Belarus in response to the deteriorating situation

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 in listed dual-use goods and technology and broadly prohibits  trade of items that may contribute to Belarus’s military and technological enhancement.

The measure

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, including two significant Belarusian banks, a series of defense companies, and government officials.

These individuals and entities have been added to OFAC’s List of Specially Designated Nationals

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 transactions involving the following Belarusian Specially Designated Nationals and their subsidiaries by June 3, 2021:

  • Belarusian Oil Trade House
  • Belneftekhim
  • Belneftekhim USA,

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 Nationals (SDNs) since October 2015 through a series of temporary general licenses. Today’s General License No. 2D extends the sanctions relief through April 30, 2018, subject to the restrictions outlined in the license.

Continue Reading OFAC Extends Sanctions Relief for Belarussian Conglomerates