What you need to know about Export Control Sanctions on Russia
The Bureau of Industry and Security (BIS) imposed expansive export controls against Russia & Belarus covering both U.S. origin products and numerous items made abroad. Sanctions were effective immediately, therefore no grace period was granted. This one-hour course will outline the new export controls and what exporters, re-exporters, and in-country transferors need to know.
We will discuss sanctions imposed by the BIS and Office of Foreign Assets Control (OFAC) on Russia. Our focus will be on five areas:
- BIS country-wide export controls
- BIS sectoral sanctions
- BIS military end use/end user controls
- OFAC sectoral sanctions
- OFAC financial and trade sanctions.
Points we will cover include:
- Identifying products subject to the February 24 BIS sanctions rule.
- Restrictions on sales to military end users and military end uses
- Application of the new Russia foreign direct product rule and the savings clause
- Scope of BIS Sectoral Sanctions
- Scope of OFAC Sectoral Sanctions, Directives and General Licenses
- Russian Harmful Foreign Activities sanctions
- BIS and OFAC prohibitions regarding Crimea, Donetsk and Luhansk
Sanctions were imposed on Russia over a number of years by different agencies. We will review the primary sanctions and their operation. The goal is to provide you with a comprehensive understanding of the various rules, to ensure your compliance program safeguards against possible violations.