Insights on Russia Task Force

Three US agencies – the US Department of Commerce, Bureau of Industry and Security (BIS), the US Department of the Treasury, Office of Foreign Assets Control (OFAC), and the US Department of State – took new actions on June 11.

Two years after the start of Russia’s war in Ukraine and one week after the death of opposition politician and anticorruption activist Aleksey Navalny, the US government announced a new raft of sanctions and export controls targeting nearly 600 individuals and entities.

On January 25, almost two years after Russia’s further invasion of Ukraine, the US Department of Commerce, Bureau of Industry and Security (BIS) issued a final rule (the Rule) strengthening existing export controls relating to Russia, Belarus, and Iran.

On Friday, February 24, the one-year anniversary of Russia’s further invasion into Ukraine, President Biden, the Office of Foreign Assets Control (OFAC), the US Department of State, and the US Department of Commerce, Bureau of Industry and Security (BIS) imposed new sanctions.

Well, the Bureau of Industry and Security (BIS) waited until the summer was over, but timing may be the best part of the new export controls on Russia and Belarus (the “Rule”). Understanding the new Rule and how the old regulations have been amended is a bear.

On May 8, 2022 (aka Mother’s Day), the Biden Administration announced yet another series of export controls and sanctions measures intended to ratchet up the costs on Russia’s economy and limit its ability to continue its war in Ukraine. 

On Friday, April 8, 2022, the US Government added two more weapons to its artillery of actions against Russia and Belarus.

On Wednesday, April 6, 2022, the U.S. Government, in concert with the G7 and European Union, took significant additional sanctions actions against Russia “to impose severe and immediate economic costs on the Putin regime for its atrocities in Ukraine, including in Bucha.”