On 16 April 2014, the Bureau of Industry and Security (“US BIS“) in the US Commerce Department formally added Chernomorneftegaz to the Entity List pursuant to the Export Administration Regulations (“EAR“). US BIS announced its intention to make this Entity List designation on 11 April, as reported in our previous blog post (http://www.bakermckenzie.com/sanctionsnews/blog.aspx?entry=1889).
Chernomorneftegaz’s inclusion on the Entity List means that a US BIS licence will be required for the export, reexport or in-country transfer by any U.S. or non-U.S. person of items subject to the EAR to Chernomorneftegaz, with a presumption of denial. The new EAR licensing requirements apply to both controlled and non-controlled (a.k.a “EAR99“) items intended for Chernomorneftegaz.
The Federal Register notice is available at http://www.gpo.gov/fdsys/pkg/FR-2014-04-16/pdf/2014-08701.pdf.
