Trade and Manufacturing Monitor
2nd Anniversary of Ukraine Invasion Brings New Sanctions on Russia
On February 23, 2024, on the 2nd anniversary of Russia’s invasion of Ukraine, the Treasury Department’s Office of Foreign Assets Control (OFAC) announced significant new sanctions, adding nearly 300 Russian and select…
Commerce Department Expands Russia and Belarus Controls, Implements Clarifying Changes
On January 25, 2024, the Commerce Department’s Bureau of Industry and Security (“BIS”) strengthened its existing controls under the Export Administration Regulations (“EAR”) against Russia and Belarus. Specifically,…
White House Broadens Restrictions on Russia by Authorizing Sanctions on Foreign Financial Institutions and Expanding the Import Ban
On December 22, 2023, President Biden signed Executive Order 14114, titled “Taking Additional Steps With Respect to the Russian Federation's Harmful Activities” (EO 14114), with a focus on holding foreign financial…
OFAC Enhances Sanctions on Russia and Its Procurement Networks Abroad
On November 2, 2023, the Treasury Department’s Office of Foreign Assets Control (“OFAC”) unveiled new sanctions targeting Russia’s energy production, metals and mining, and defense procurement sectors. OFAC also…
European Union Adopts 11th Round of Sanctions Against Russia
On June 23, 2023, the EU adopted its latest round of Russia sanctions. The new regulations have a focus on combatting circumvention and evasion, following suit with similar measures adopted by the United States last…