The OverRuled: Russia Trade Controls Resource Center has been updated with the following actions:
- 18 Apr 2024 (BIS):
BIS added 39 items to Supplement No. 7 to Part 746 of the Export Administration Regulations ("EAR"), effectively expanding the scope of items that are subject to the EAR under the Russia/Belarus/Temporarily occupied Crimea region of Ukraine Foreign Direct Product ("FDP") rule and the Iran FDP rule.
- 12 Apr 2024 (EU):
The EU published new FAQs relating to Article 5r of Council Regulation 833/2014, aimed at giving National Competent Authorities better visibility into the flow of funds out of the EU by Russian-owned EU entities. The new FAQs include a reporting template, which relevant EU entities should review in preparing the submissions of their first reports due May 1, 2024.
- 12 Apr 2024 (UK):
The UK and the U.S. announced a joint action to clamp down harder on prohibited Russian metal exports focusing on aluminium, copper, and nickel, by bringing the world's two largest metal exchanges into the scope of the existing bans. The London Metal Exchange (LME) and the Chicago Mercantile Exchange (CME) will no longer trade new aluminium, copper, and nickel produced by Russia.
The OverRuled: China Trade Controls Resource Center has been updated with the following actions:
- 18 Apr 2024 (OFAC):
In response to Iran's unprecedented attack on Israel on April 13, OFAC designated 16 individuals and 2 entities enabling Iran's UAV production; 5 companies in multiple jurisdictions providing component materials for steel production to Iran's Khuzestan Steel Company (KSC), one of Iran's largest steel producers, or purchasing KSC's finished steel products; and Iranian automaker Bahman Group and its three subsidiaries supporting the Iran's Islamic Revolutionary Guard Corps and other entities designated pursuant to counterterrorism authorities.
The listed Hong Kong-based entity, Magellanic Phoenix Marine and Trading Limited, is being designated pursuant to EO 13871 for purchasing steel products from KSC.
- 15 Apr 2024 (OFAC):
OFAC designated 12 entities and 10 individuals based in Belarus, China, Iraq, Lebanon, Syrai, Cyprus, Turkey, and Slovakia, pursuant to EO 14038, in an action targeting President Alyaksandr Lukashenka's regime for its continuing support for Russia's war against Ukraine and the financial benefit it derives from such support. The entities and individuals designated include six revenue-generating state-owned enterprises, one entity and five individuals involved in facilitating transactions for a U.S.-designated major Belarusian defense sector enterprise, and five entities and five individuals involved in a global arms network doing business with a U.S.-designated Belarusian defense firm.
The listed PRC-based entity is Shenzhen 5G High-Tech Innovation Co., Limited.
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