As part of the G7 summit in Italy, the USA has once again tightened sanctions against Russia. The Bureau of Industry and Security (BIS), in coordination with the US Treasury Department and the US State Department, has announced additional export control restrictions.
The measures include combating circumvention tactics by shell companies, restricting the export of business software that can be used for military purposes by Russia and Belarus, and tightening controls on exports to Russia and Belarus. The exemptions for Russia and Belarus are to be tightened and trade with foreign companies is to be prohibited via the Entity List. In addition, the BIS has issued two temporary denial orders (TDOs). These prohibit the export of goods from the USA that are subject to the Export Administration Regulations (EAR). The receipt of or participation in exports from the USA or re-exports of goods subject to the EAR is also prohibited. Finally, stricter restrictions will apply to distributors and transshipment companies.
The measures will enter into force on June 18, 2024.
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Department of Commerce Announces Additional Export Restrictions to Counter Russian Aggression
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