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 new U.S. sanctions and export restrictions as of Thursday, July 7. This post supplements our previous summaries, which are available by following the links at the end of this blog post.
Commerce Department Continues to Target Airlines, Entities; OFAC Extends Sanctions to New Parties, Imports of Gold
On June 24, the U.S. Department of Commerce, Bureau of Industry and Security (BIS) issued Temporary Denial Orders (TDOs) against an additional three Russian airlines: Nordwind Airlines, Pobeda Airlines, and S7 Airlines. BIS cited apparent ongoing violations of the comprehensive export controls imposed on Russia. Under these TDOs, the airlines are banned from participating in transactions subject to the Export Administration Regulations (EAR), including exports from the United States and re-exports from abroad. The TDOs initially run for 180 days but will likely be extended.Continue Reading Russia, Ukraine: Update as of July 7