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
Partner and Global Practice Leader
E: dzuvich@kpmg.com

John L. McLoughlin
Principal and East Coast Leader
E: jlmcloughlin@kpmg.com

Andy Siciliano
Partner and National Practice Leader
E: asiciliano@kpmg.com

Steve Brotherton
Principal and Global Export and Sanctions Leader
E: sbrotherton@kpmg.com

Luis (Lou) Abad
Principal, Washington National Tax
E: labad@kpmg.com

Irina Vaysfeld
Principal
E: ivaysfeld@kpmg.com

Amie Ahanchian
Principal
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Christopher Young
Principal
E: christopheryoung@kpmg.com

Gisele Belotto
Principal
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George Zaharatos
Principal
E: gzaharatos@kpmg.com

Andy Doornaert
Managing Director
E: adoornaert@kpmg.com

Jessica Libby
Principal
E: jlibby@kpmg.com

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