Tag: International Trade

1
New U.S. Sanctions on Russia and Belarus Impose Trade and Investment Restrictions on Luxury Goods and Russia’s Energy Sector

New U.S. Sanctions on Russia and Belarus Impose Trade and Investment Restrictions on Luxury Goods and Russia’s Energy Sector

Originally posted on the K&L Gates Hub

By: Jeffrey OrensteinSteven F. HillStacy J. EttingerErica L. BakiesJerome J. ZauchaDonald W. Smith

As an update to K&L Gates’ previous alerts of 24 February and 25 February, U.S. President Joe Biden issued two executive orders (EOs) last week imposing additional sanctions against Russia. The first order, EO 14066, issued on 8 March 2022, prohibits: (1) U.S. imports of Russian oil and other energy products, and (2) new investments by U.S. persons in Russia’s energy sector. The second order, EO 14068, issued on 11 March 2022, restricts: (1) exports of luxury goods to Russia and Belarus, (2) U.S. imports of Russian alcohol, seafood, and diamonds, and (3) the supply of U.S. dollar-denominated banknotes to Russia and the Russian Government worldwide. This alert describes these new developments in more detail.

Read More

Copyright © 2022, K&L Gates LLP. All Rights Reserved.