Trade and Manufacturing Monitor
2nd Anniversary of Ukraine Invasion Brings New Sanctions on Russia
On February 23, 2024, on the 2nd anniversary of Russia’s invasion of Ukraine, the Treasury Department’s Office of Foreign Assets Control (OFAC) announced significant new sanctions, adding nearly 300 Russian and select…
Commerce Department Expands Russia and Belarus Controls, Implements Clarifying Changes
On January 25, 2024, the Commerce Department’s Bureau of Industry and Security (“BIS”) strengthened its existing controls under the Export Administration Regulations (“EAR”) against Russia and Belarus. Specifically,…
White House Broadens Restrictions on Russia by Authorizing Sanctions on Foreign Financial Institutions and Expanding the Import Ban
On December 22, 2023, President Biden signed Executive Order 14114, titled “Taking Additional Steps With Respect to the Russian Federation's Harmful Activities” (EO 14114), with a focus on holding foreign financial…
Commerce Department Publishes Best Practices to Prevent High-Priority Items From Being Diverted to Russia
The U.S. Department of Commerce’s Bureau of Industry and Security (“BIS” or “the agency”) has published a set of best practices for exporting nine products on the U.S. Harmonized Tariff Schedule (“HTS”) drawn from the…
U.S. Imposes Additional Sanctions on Russia by Targeting Military-Linked Elites and Industrial Base
On September 14, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced nearly 100 new sanctions on Russian elites and on Russia’s industrial base, financial institutions, and…