Earlier today, the Bureau of Industry and Security (BIS) published a Federal Register notice (79 Fed. Reg. 151, 45675-82) describing expanded export controls on Russia. BIS previously implemented severe restrictions on licensable items proposed for shipment to Russia. These new and expanded BIS controls are effective today. They also build on the existing Treasury Department, Office of Foreign Assets Control (OFAC) sanctions on financing and extended payment terms on sales transactions (among other prohibitions) already released in Executive Orders 13660-62 and in derivative sectoral sanctions.
All proposed exports of fracking and petrochemical equipment, software and technology to Russia should now be reviewed under the new OFAC and new BIS sanctions programs. Continue Reading