Ukraine Crisis Update: US and EU Expand Sanction Lists; US Imposes Export Restrictions

The US expands sanctions and tightens controls on exports to Russia and Crimea.

On April 28, 2014, the White House announced expanded sanctions against Russian government officials and companies. The Obama Administration also announced that the US Departments of State and Commerce will not issue export licenses and will revoke existing export licenses for “Russia or occupied Crimea that contribute to Russia's military capabilities.”

Beyond these restrictions on certain yet-to-be-identified high technology items, the Commerce Department imposed a ban on exports or reexports of all US-regulated items to 13 companies in Russia that now appear on the Commerce Department’s Entity List. These export control restrictions go well beyond the previously announced “hold” on pending license applications for exports or reexports to Russia.

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Published In: General Business Updates, Elections & Politics Updates, Finance & Banking Updates, International Trade Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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