Trade Matters (April)

1. Updates to Russia Sanctions and Export Controls

In response to the ongoing attack on Ukraine, the U.S. government continues on a weekly basis to increase economic sanctions and export controls on Russia.

Economic Sanctions

• On March 8, the White House issued an Executive Order banning 1) the import into the United States of Russian "crude oil; petroleum; petroleum fuels, oils, and products of their distillation; liquefied natural gas; coal; and coal products"; 2) U.S. persons from making new investment into the Russian energy sector; and 3) any activity by a U.S. person that would facilitate either of the above. A general license provides a short wind-down period.
• On March 11, the White House issued an Executive Order banning 1) the import of Russian fish, seafood, and related preparations; Russian alcoholic beverages; and Russian nonindustrial diamonds (the order leaves open the ability for certain U.S. agencies to expand this list); and 2) the direct