United States Announces Additional Sanctions Against Russia and Belarus
As announced during his State of the Union, President Biden and U.S. Allies and partners, announced additional sanctions against Russia and Belarus. In recognition of the impact of the sanctions and export controls on the energy industry, the United States and Allies released 60 million barrels of oil from strategic reserves.
The new restrictions include:
Expansion of BIS Sanctions from Russia to Belarus: The United States Department of Commerce plans to extend to Belarus the stringent export control policies implemented against Russia last week. These export controls cover a wide array of technology products, including high tech products and software.
Additional Sanctions Against Russian Defense Entities: The Department of State’s Directorate of Defense Trade Controls (“DDTC”) will impose sweeping sanctions to target Russia’s military defense sector. A total of 22 entities will be designated, including firms that manufacture aircraft, infantry fighting vehicles, electronic war systems, missiles and unmanned aerial vehicles.
Export Controls Targeting Oil Refineries: The Department of Commerce plans to implement export controls banning the export of oil and gas extraction equipment, including technology exports that support Russia’s refining capacity.
Targeting Entities Supporting Russian and Belarus Military: The Department of Commerce will add entities to its Entity List that support and contribute to the Russian and Belarusian security services, military and defense sectors, as well as research and development efforts. These actions will cover military, aerospace, maritime and high-technology sectors.
Banning Russian Aircraft: The United States will close off American airspace to all Russian flights, including all aircraft certified, operated, registered or controlled by any person connected with Russia. This includes revoking all Russian airlines, passengers and cargo. 30 other countries have imposed similar requirements.