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Thad McBride

Thad McBride advises public and private companies on the legal considerations essential to successful business operations in a global marketplace. He focuses his practice on counseling clients on compliance with U.S. export regulations (ITAR and EAR), economic sanctions and embargoes, import controls (CBP), and the Foreign Corrupt Practices Act (FCPA). He also advises clients on anti-boycott controls, and assists companies with matters involving the Committee on Foreign Investment in the United States (CFIUS). Thad supports international companies across a range of industries, including aviation, automotive, defense, energy, financial services, manufacturing, medical devices, oilfield services, professional services, research and development, retail, and technology. Beyond advising on day-to-day compliance matters, Thad regularly assists clients in investigations and enforcement actions brought by government agencies, including the U.S. Department of Justice (DOJ), the U.S. Treasury Department Office of Foreign Assets Control (OFAC), the U.S. State Department Directorate of Defense Trade Controls (DDTC), Customs and Border Protection (CBP), the U.S. Commerce Department Bureau of Industry & Security (BIS), and the Securities & Exchange Commission.

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The Bass, Berry & Sims international trade team is actively monitoring the situation in Russia and Ukraine and providing real-time advice to clients on managing the situation. This post summarizes the evolving situation as of Thursday, March 31 concerning current U.S. sanctions and export restrictions related to Russia and Ukraine. This post supplements our previous analysis all of which are linked at the end of today’s content.

United States Targets Russian Sanctions Evaders in the Latest Round of Designations

On March 31, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced the designation of still more entities and individuals as it expands sanctions against Russia. These parties have been designated as Specially Designated Nationals (SDN); as a general matter, U.S. persons are prohibited from conducting any transaction with an SDN.Continue Reading Russia, Ukraine: Update as of March 31

I am looking forward to presenting a panel titled “US Sanctions Update: Russia and Other Hot Topics” alongside Phil Smith of Booking.com on April 12, 2022.

The US government continues to aggressively implement and enforce economic sanctions. Russia is the current focal point, and has been the subject of an unprecedented, coordinated series of actions…

I am looking forward to joining Marc Latman and John McCarthy from SGR’s Aviation Team for another engaging webinar on Russian Sanctions for the Aviation sector. The webinar will take place on Thursday, March 31, 2022 from 8 A.M – 9 A.M PT / 11 A.M – 12 P.M. ET / 4 P.M – 5 P.M London and Dublin Time.

Through its March 18, 2022 press release, the U.S. Commerce Department, Bureau of Industry and Security (BIS) put the world on notice that it intends to vigorously administer the export restrictions it announced February 24 and again on March 2, 2022 related to aircraft and aviation-related items destined for Russia/Belarus. While the March 18 press release only lists 100 aircraft, it sets the stage for future listings that could cover a much larger number of aircraft and potentially aircraft engines. These restrictions could be applied to companies and individuals, regardless of nationality, anywhere in the world. Further, March 28, 2022 marks the end of the EU-mandated wind-down period for terminating existing aviation transactions with Russian airlines.Continue Reading [WEBINAR] Live Follow-Up Q&A on Revisiting Russian Sanctions for the Aviation Sector Post-March 28

The Bass, Berry & Sims international trade team is actively monitoring the situation in Russia and Ukraine and providing real-time advice to clients on managing the situation. This post summarizes the evolving situation as of Thursday, March 24 concerning current U.S. sanctions and export restrictions related to Russia and Ukraine. This post supplements our previous analysis all of which are linked at the end of today’s content.

United States Aligns with Allies, Sanctions Hundreds of Russian Lawmakers and Others

On March 24, President Biden announced that the United States will impose sanctions on “over 400 individuals and entities comprised of Russian elites, the Duma and more than 300 of its members, and defense companies.” In so doing, the United States aligns itself with the sanctions efforts of the European Union and G7 (which consists of Canada, Japan, and the UK along with several members of the EU). This continues the unprecedented multilateral effort to restrict trade with and involving Russia.Continue Reading Russia, Ukraine: Update as of March 24

The Bass, Berry & Sims international trade team is actively monitoring the situation in Russia and Ukraine and providing real-time advice to clients on managing the situation. This post summarizes the evolving situation as of Monday, March 21 concerning current U.S. sanctions and export restrictions related to Russia and Ukraine. This post supplements our previous analysis all of which are linked at the end of today’s content.

On March 18, citing publicly available information, the Bureau of Industry and Security (BIS) issued a notice (the Notice) identifying 100 commercial and private aircraft that have flown into Russia in apparent violation of the Export Administration Regulations (EAR) since March 2, 2022. BIS noted that all listed aircraft are owned or controlled by, or under charter or lease to, Russia or Russian nationals. BIS identified the aircraft by owner/operator, tail number, serial number, and aircraft type.

In publicly listing the aircraft, BIS warned that servicing these aircraft without BIS authorization by any person, regardless of location, would violate part 736.2(b)(10) of the EAR. Also known as General Prohibition 10, this EAR provision covers the taking of virtually any action with respect to an item that has been exported in violation of the EAR. BIS emphasized that violations of the EAR can lead to enforcement action and possible criminal and/or civil fines, including jail time and loss of export privileges.Continue Reading Russia, Ukraine: Update as of March 21

The Bass, Berry & Sims international trade team is actively monitoring the situation in Russia and Ukraine and providing real-time advice to clients on managing the situation. This post summarizes the evolving situation as of late evening on Monday, March 14 concerning current U.S. sanctions and export restrictions related to Russia and Ukraine. This post supplements our previous analysis all of which are linked at the end of today’s content.

On March 11, President Biden announced the U.S. – along with several allies, including Canada, the European Union, France, Germany, Italy, Japan, and the United Kingdom – will revoke Russia’s status as a “most favored nation,” which will remove preferential treatment of imports and tariffs. President Biden stated that he will work with Congress to deny Russia the benefits of World Trade Organization membership and deny preferential treatment of imports from Russia and Belarus.

President Biden also issued an Executive Order (EO) prohibiting new investment in any designated sector of the Russian economy. However, to date, no sectors of the Russian economy have been designated. In addition, the EO prohibits the export, re-export, sale, or supply, directly or indirectly, from the United States or by a U.S. person, wherever located, of specified luxury goods to any person located in Russia.  And the EO bans the sale or export of U.S. dollars to Russia or any person in Russia.Continue Reading Russia, Ukraine: Update as of March 14

I recently provided comments for an article in Law360 about the legal and financial challenges faced by energy companies who are scrambling to sever ties with Russian entities in the wake of the Russia-Ukraine situation. On March 8, President Biden announced a ban on Russian oil and gas imports into the United States further complicating the already complex and evolving sanctions imposed on Russian companies in the wake of the country’s invasion of Ukraine.

Because the U.S. sanctions include a ban on doing business with many Russian financial institutions, U.S. companies trying to close deals to get out of the market has become even more difficult. “What we’re seeing is, even if it’s permitted … it may be very hard to find a U.S. or a European bank to do the business, just because they don’t want to take the risk on it,” I explained in the article. “So the financial piece is going to be, at least, very challenging practically, if not legally.”Continue Reading Legal Challenges for Energy Industry Severing Ties in Russia

The Bass, Berry & Sims international trade team is actively monitoring the situation in Russia and Ukraine and providing real-time advice to clients on managing the situation. This post summarizes the evolving situation as of late evening on Tuesday, March 8 concerning current U.S. sanctions and export restrictions related to Russia and Ukraine. This post supplements our previous analysis all of which are linked at the end of today’s content.

President Biden Issues Executive Order, Bans Imports of Russian Oil and Gas

On March 8, President Biden issued an Executive Order (EO) banning the importation into the United States of the following Russian-origin products:Continue Reading Russia, Ukraine: Update as of the Evening of March 8

This UPDATED post summarizes the situation as of late evening on Monday, March 7, concerning current U.S. sanctions and export restrictions related to Russia and Ukraine. This post supplements our post of late evening on Wednesday, February 23, which is available here; our post of late evening on Thursday, February 24, which is available here; our post of late evening on Friday, February 25, which is available here; our post of late evening Monday February 28 is available here; and our post of late evening Thursday March 3, which is available here. 

U.S. State Department Targets Russian Defense Enterprises for Sanctions

The U.S. State Department has identified 22 Russian defense-related entities that design, develop, and produce weaponry for Russia. Each has been designated as a Specially Designated National (SDN) by the U.S. Treasury Department, Office of Foreign Assets Control (OFAC). The designated entities include companies involved in the design, development, and production of unmanned aerial vehicles, electronic warfare, missile and missile defense systems, fighter aircraft, armored vehicles, and procurement of foreign technology for Russia’s military.Continue Reading Russia, Ukraine: Update as of the Evening of March 7

From the Bass, Berry & Sims Blog Network
From the Bass, Berry & Sims Blog Network

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