Effective August 6, 2014, the United States Department of Commerce’s Bureau of Industry and Security (“BIS”) issued new regulations, identified as the “Russian Industry Sector Sanctions,” restricting exports and other transfers of certain items subject to the Export Administration Regulations (“EAR”) that may benefit Russia’s energy sector.
For further details, please see the recent post on Reed Smith’s Global Regulatory Enforcement Law Blog by Hena Schommer, Michael Lowell and Leigh Hansson.