In coordination with other G7 countries, the United States announced another significant round of sanctions and export control restrictions on Russia on Sunday, May 8. These include a new ban on the provision of certain services to Russia, new
Trade and Manufacturing Monitor
News and Insight from our International Trade Practice Group
Trade and Manufacturing Monitor, published by Kelley Drye & Warren LLP, covers regulatory and compliance developments affecting international trade and manufacturing sectors. The blog addresses topics such as export controls, sanctions enforcement, tariff regulations, and supply chain risks, with a focus on U.S. and global regulatory frameworks. It discusses issues like sanctions circumvention, export denial orders, tariff exclusion processes, forced labor prevention in supply chains, and nuclear nonproliferation controls. The content is aimed at helping companies navigate complex trade compliance requirements, assess risks related to high-risk countries and products, and understand evolving government enforcement actions and policy updates.
Latest from Trade and Manufacturing Monitor - Page 5
USTR Initiates Review of 301 Tariffs on Chinese Goods
Background on USTR’s Section 301 Tariff Review: On Tuesday, May 3, USTR announced the initiation of a statutorily-required review of the tariff actions in the Section 301 investigation of China’s Acts, Policies, and Practices Related to Technology Transfer, Intellectual Property,…
President Biden Proposes Legislation to Seize Russian Oligarch Assets for Benefit of Ukraine
Today, the Biden Administration announced a legislative proposal aimed at empowering the U.S. government to seize and forfeit property linked to Russian elites. Specifically, the proposed system would enhance and streamline the seizure and forfeiture of Russian oligarch assets and…
United States Bans Russian Ships from U.S. Ports
By Wyatt Mince
Yesterday, the White House issued a proclamation banning Russian-affiliated vessels from entering U.S. ports in response to Russia’s continued aggression in Ukraine, effective April 28, 2022. Banned vessels include Russian-flagged vessels, vessels owned by Russian persons, and vessels that are…
OFAC Issues Fact Sheet Summarizing Humanitarian-related Authorizations Under Russia Sanctions, New Humanitarian-related General License
By Kelley Drye
On April 19, 2022, the Office of Foreign Assets Control (OFAC) issued a fact sheet with guidance on various humanitarian general licenses that authorize activities otherwise prohibited by U.S. sanctions, and respond to the threat Russia’s war in Ukraine poses…
U.S. Sanctions Transkapitalbank, Virtual Currency Mining Company, & Evasion Network
Today, the U.S. Office of Foreign Assets Control (OFAC) designated Transkapitalbank, a privately-held Russian commercial bank, and its subsidiary, Investtradebank, as Specially Designated Nationals (SDNs). OFAC imposed blocking sanctions on the banks due to their role in facilitating U.S. dollar…
Latest UK Sanctions on Russia: Luxury Export Ban, Iron & Steel Import Ban, 200+ Asset Freezes
Yesterday, the United Kingdom imposed additional restrictions on trade with Russia, including a luxury goods export ban, an iron and steel import ban, and asset freeze restrictions on over two-hundred Russian actors. Notable sanctions targets include Eugene Tenenbaum and David…
Commerce Department Significantly Expands Export Controls on Russia and Belarus; Limits Exceptions for Belarusian Aircraft
EU Publishes Fifth Round of Sanctions on Russia
By Kelley Drye
Today, the European Union published its fifth major round of sanctions on Russia and Belarus. The sanctions package includes a full transaction ban on four major Russian banks, port and transportation sanctions, import bans on coal, wood, cement, seafood, and…
U.S. Issues Telecommunications & Internet Communications General License for Russia
By Kelley Drye
On April 7, the U.S. Office of Foreign Assets Control (OFAC) issued a new General License No. 25 (GL25) authorizing certain transactions ordinarily incident to telecommunications and the exchange of communications over the internet in Russia.
GL25 authorizes U.S. persons…