BIS Imposes New Export Controls on Certain Industrial EAR99 Items - Currently, all items on the Export Administration Regulations’ (“EAR“) Commerce Control List (“CCL”) r.
The Bass, Berry & Sims international trade team is actively monitoring the situation in Russia and Ukraine and providing real-time advice to clients on managing the situation. This post.
<p><span>Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is taking further action to degrade the key networks used by Russia’s elites, including President Vladimir Putin, to attempt to hide and move money and anonymously make use of luxury assets around the globe. Today’s action targets a Kremlin-aligned yacht brokerage, several prominent Russian government officials, and a close Putin associate and money-manager, Sergei Roldugin, who is a custodian of President Putin’s offshore wealth. In order to further tighten and enforce existing sanctions, this action further identifies yachts and aircraft in which sanctioned Russian elites maintain interests.</span></p>
The new sanctions aim to "further tighten and enforce existing sanctions" by pinpointing yachts in which "sanctioned Russian elites maintain interests."