The OverRuled: Russia Trade Controls Resource Center has been updated with the following actions:
- 23 Aug 2024 (OFAC):
The U.S. Department of the Treasury's Office of Foreign Assets Control ("OFAC") and the U.S. Department of State designated 50 individuals and 333 entities, and identified 7 vessels as blocked property pursuant to Executive Order ("E.O.") 14024. The designations target numerous transnational networks and international supply chains supporting Russia's war efforts, including persons and entities from Russia, as well as from Austria, Belarus, China, Cyprus, Estonia, France, Kazakhstan, the Kyrgyz Republic, Hong Kong, Hungary, Italy, Liechtenstein, Panama, Switzerland, Tunisia, Türkiye, the United Arab Emirates, and the United Kingdom. The designations also target Russian financial technology companies; Russia's future energy, metals, and mining production and exports; sanctions evasion networks; Russia's military-industrial base; and malign actors involved in the forcible "re-education" of Ukraine's children.
Concurrent with these designations, OFAC issued General Licenses ("GLs") 103, 104, 105, 106, and 107. GLs 103 and 104 authorize, subject to certain conditions, certain transactions related to imports of certain diamonds and diamond jewelry otherwise prohibited under determinations made pursuant to E.O. 14068. GLs 105, 106, and 107 all authorize, subject to certain conditions, certain activities involving certain entities or vessels blocked on August 23, 2024.
OFAC also issued one new FAQ (1189) and amended two existing FAQs (1165 & 1166).
- 23 Aug 2024 (BIS):
The Bureau of Industry and Security (“BIS”) issued a new final rule that amends the Russia- and Belarus-related restrictions in the Export Administration Regulations (“EAR”) by (1) expanding the scope of the Russia/Belarus Military End User Foreign Direct Product Rule to cover an additional group of entities involved in procuring and diverting items for Russia’s and Belarus’s defense and intelligence industry; (2) imposing controls on EAR99 operation “software” for computer numerical control (“CNC”) machines; and (3) making certain other corrections and clarifications.
Please send an email to subscriptions@overruled.com if you would like information on how to subscribe to access additional detail about these and other sanctions- and export controls-related actions. If you are already a paid subscriber, please login to OverRuled for access to exclusive content, analysis, and historic search functionality.