US Commerce and Treasury Departments Add to Lists of Sanctioned Entities Under Russia-/Ukraine-Related Programmes
In June 2017, the Office of Foreign Assets Control (OFAC) and the US Commerce Department’s Bureau of Industry and Security (BIS) imposed coordinated sanctions against two entities from the Crimea Region of Ukraine and eight entities from Russia. OFAC added each entity to the OFAC List of Specially Designated Nationals (SDN List) and Block Persons under the executive orders implemented in 2014 in response to Russia’s takeover of the Crimea Region of Ukraine.
For its part, BIS added each entity to the Entity List, thereby imposing a licence requirement for transactions involving one of the entities and any item subject to the Export Administration Regulations (EAR). Those exports are now subject to a licence review policy of presumption of denial and are ineligible for licence exceptions. The list of designated parties and additional information about the designations are available on the OFAC website and BIS website.