U.S. Further Escalates Russia-Related Sanctions and Export Controls, Targets Belarus
Highlights
In response to the Ukraine invasion, the U.S. significantly expanded sanctions against Russia’s financial services sector, creating risks for making payments for otherwise lawful business involving Russia
The U.S. Department of Commerce’s Bureau of Security announced significant export control restrictions on the transfer of certain U.S. commodities, software, and technology to Russia and Belarus
Companies should consider assessing any existing or potential business activities involving Russia, Belarus, and Ukraine to determine any legal, practical, and reputational risks
In response to Russia’s full-scale military invasion of Ukraine, the U.S. has taken a series of actions, including: significantly expanding sanctions against Russia’s financial services sector; implementing extensive new export controls on U.S. products; and targeting Russian President Vladimir Putin, other Russian elites, and certain banks and defense and security industries and individuals in Belarus.
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