Russia Sanctions Update: US and EU Requirements for Compliance

No other issue has dominated the export regulatory landscape in recent memory as this year’s sanctions developments related to Russia.  These sanctions have translated into, among other things, challenging screening requirements for U.S. exporters, not only for exports to the ever-growing list of “blocked persons” designated under the Russia-related sanctions, but also for exports to entities directly or indirectly owned 50 percent or more by such blocked persons.  And, in a major recent change, the Office of Foreign Assets Control (OFAC) will now aggregate the ownership interests of multiple blocked persons when determining whether the 50 percent rule applies in a given transaction.  As U.S. sanctions developments related to Russia have proceeded in parallel to those in the E.U., U.S. companies with subsidiaries or operations in Europe need to be cognizant of and compliant with both sets of sanctions.  This timely webinar will provide an overview of the U.S. and EU sanctions related to Russia, including requirements for compliance.   The webinar will also discuss the trickle-down impact that the sanctions have had on export controls, including new Russia-specific export/reexport license requirements.  Our speakers will provide guidance for meeting the challenges associated with these sanctions, as well as practical steps for mitigating risk.

Cosponsored by: UK Trade & Investment