Baker McKenzie’s Sanctions Blog published the alert titled BIS Imposes Export Ban on Luxury Goods to Russia and Belarus as well as Russian and Belarussian Oligarchs and Malign Actors on 12 March 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
Baker McKenzie’s Sanctions Blog published the alert titled G7 Countries Move to Revoke Russia’s “Most Favored Nation” Status and Impose Other Sanctions on 16 March 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
Baker McKenzie’s Sanctions Blog published the alert titled OFAC Issues New General Licenses Authorizing Certain Transactions with the Central Bank of the Russian Federation, Designates Additional Russian Parties as SDNs, and Issues New Guidance on 8 March 2022. Read the article via the link here . Please also visit our Sanctions Blog for the most recent updates.
Baker McKenzie’s Sanctions Blog published the alert titled “BIS announces expanded export controls targeting Russia” on 25 February 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
Baker McKenzie’s Sanctions Blog published the alert titled “US Government imposes expansive OFAC sanctions on Russia, sanctions certain additional Belarussian entities” on 27 February 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
Baker McKenzie’s Sanctions Blog published the alert titled “US Department of Commerce implements significant expansion of export controls against Russia” on 1 March 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
On February 21, 2022, the White House issued a new Executive Order that imposes comprehensive sanctions on the so-called Donetsk People’s Republic (“DNR”) and Luhansk People’s Republic (“LNR”) regions of Ukraine. Concurrently with the issuance of the Executive Order, the US Treasury Department’s Office of Foreign Assets Control published six general licenses authorizing certain transactions involving the targeted regions. These sanctions were imposed in response to the Russian Government’s decision to recognize the DNR and LNR as independent from Ukraine on the same day.
On February 22, 2022, the US Government issued a number of additional sanctions measures against Russia in response to President Putin’s recognition of the independence of the “so-called Donetsk People’s Republic (DNR) and Luhansk People’s Republic in Ukraine (LNR)” and his request to deploy forces to those regions – with President Biden characterizing these developments as “the beginning of a Russian invasion of Ukraine.” The new US sanctions measures build on the comprehensive region-wide sanctions imposed on the two territories of DNR and LNR on February 21, 2022, as reported in our prior blog here.
Join us for a brief webinar on 1 March 2022 to hear from our experts on the latest sanctions measures introduced against Russia and certain parts of Ukraine. We are well-positioned in all relevant jurisdictions to help you understand and respond to the various sanctions measures. Our panel will comprise of Baker McKenzie trade and sanctions attorneys from Ukraine, Russia, the United States, the United Kingdom, the European Union, Canada, Japan, Australia and Switzerland. The panel will summarise the key measures and propose key practical take-aways for businesses to focus on.
On February 3, 2022, the Commerce Department’s Bureau of Industry and Security (“BIS”) published a final rule reorganizing, clarifying, and correcting the traditional and Entity List foreign-direct product rules (“FDP Rules”) in the Export Administration Regulations (“EAR”). This rule does not change the substantive scope of the FDP Rules, but provides certain helpful clarifications. We previously blogged about the FDP Rules here.