On May 26, 2022, the US Department of Commerce’s Bureau of Industry and Security (“BIS”) issued a final rule (the “Final Rule”) updating the scope of License Exceptions Authorized Cybersecurity Exports (“ACE”) and Encryption Commodities, Software, and Technology (“ENC”) related to cybersecurity items in response to public comments on the interim final rule related to cybersecurity items published on October 21, 2021. The interim final rule established a new control on certain cybersecurity items for…
On April 29, 2022 the US Department of Treasury’s Office of Foreign Assets Control (“OFAC”) announced the publication of a Final Rule that reissued and renamed the Ukraine-/Russia-Related Sanctions Regulations (“Reissued Regulations”) and updates to related public guidance. Found at 31 C.F.R. Part 589, the Reissued Regulations took effect on May 2 and have been expanded to include a more comprehensive set of regulations, including additional interpretive and definitional guidance, general licenses, and other regulatory…
On February 2, 2022, the US Department of Treasury’s Office of Foreign Assets Control (“OFAC”) issued seven new Frequently Asked Questions (“FAQs”) (FAQs 957 through 963) and on February 25, 2022, issued General License 20, “Authorizing Transactions Involving Afghanistan or Governing Institutions in Afghanistan” (“GL 20”) to expand authorizations for commercial and financial transactions in Afghanistan and seven new FAQs (FAQs 991 through 997). OFAC also made updates to FAQs to account for the new…
On March 11, 2022, the US Government issued a number of additional sanctions measures against Russia. The latest measures include the issuance of (i) a new Russia-related Executive Order 14068, “Executive Order on Prohibiting Certain Imports, Exports, and New Investment with Respect to Continued Russian Federation Aggression” (“EO 14068”) and (ii) four new General Licenses (“GLs”) related to Russia and Ukraine. These measures include a ban on exports and sales of a range of luxury…