On February 24, the US Bureau of Industry and Security (BIS) issued a final rule that implements an extensive series of new export controls. Let’s look into the details.
First, the rule imposes a new licensing requirement for all exports, reexports, and transfers of categories of goods subject to export control classification numbers. These include, in particular, microelectronics, telecommunications, navigation equipment, civil aircraft components and marine equipment. The licensing requirement is directed against the military-industrial complex, but it is clear that American business does not want to deal with huge risks when it comes to any supplies to Russia.
Second, the rule applies a denial policy to almost all applications for a license to export, re-export, or transfer into Russia. Only a small proportion of transactions will be subject to individual case-by-case review to “minimize unintended consequences” (this will apply to cases where there are risks to US national security).
Third, the rule expands existing restrictions on military end uses and military end users in Russia to cover all items subject to export restrictions, excluding food and pharmaceuticals and consumer goods unless they are intended for Russian end users. government or state-owned enterprises.
The new measures provide an exception to the rules for certain partner countries that have adopted or are planning to adopt similar measures (currently Australia, Austria, Belgium, Bulgaria, Canada, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary).
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