BIS ‘limits luxuries for elites’ in response to Ukraine crisis

The US Bureau of Industry and Security (‘BIS’) says that it has, ‘in response to the Russian Federation’s (Russia’s) further invasion of Ukraine, and Belarus’s substantial enabling of Russia’s invasion’, imposed, effective 11 March, ‘restrictions on the export, reexport, or transfer (in-country) to or within Russia or Belarus of ‘luxury goods’ under the Export Administration Regulations (EAR) and for exports, reexports and transfers (in-country) worldwide to certain Russian or Belarusian oligarchs and other malign actors supporting the Russian or Belarusian governments.’

BIS said, ‘Taken together, these new export controls will significantly limit financially elite individuals’ and organizations’ access to luxury goods and thereby accentuate the consequences of providing such support.’

If in doubt, see here…

BIS has also prepared a list of resources to help exporters understand the scope of controls concerning Russia and Belarus.

https://public-inspection.federalregister.gov/2022-05604.pdf

https://www.bis.doc.gov/index.php/policy-guidance/country-guidance/russia-belarus