U.S. final rule expanding sanctions against Russian industry sectors
In response to Russia’s ongoing aggression against Ukraine
In response to Russia’s ongoing aggression against Ukraine
The Bureau of Industry and Security (BIS) of the U.S. Department of Commerce today released for publication in the Federal Register a final rule expanding existing sanctions against Russia in response to Russia’s ongoing aggression against Ukraine.
Today’s final rule [PDF 327 KB] expands the existing sanctions against Russian industry sectors by imposing a license requirement for exports, reexports, or transfers (in-country) to and within Russia for additional items subject to the Export Administration Regulations (EAR) identified under specific Schedule B numbers or Harmonized Tariff Schedule codes
According to the final rule, BIS is taking these actions to further restrict Russia’s ability to withstand the economic impact of the multilateral sanctions, to further limit sources of revenue that could support Russia’s military capabilities, and to better align with the European Union’s controls.
For more information on sanctions and other responses to Russia’s war on Ukraine, visit KPMG’s dedicated website.
Contact a professional with KPMG’s Trade & Customs services:
Doug Zuvich |
John L. McLoughlin |
Andy Siciliano |
Steve Brotherton |
Luis (Lou) Abad |
Irina Vaysfeld |
Amie Ahanchian |
Christopher Young |
Gisele Belotto |
George Zaharatos |
Andy Doornaert |
Jessica Libby Principal E: jlibby@kpmg.com |
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