Today, the U.S. Commerce Department’s Bureau of Industry and Security (BIS) forced limitations on the product, reexport, and move (in nation) of extravagance merchandise to all end clients in the Russian Federation (Russia) and Belarus and to specific Russian and Belarusian oligarchs and defame actors found around the world. This activity is in light of Russia’s fierce, proceeding with intrusion of Ukraine (as considerably empowered by Belarus) in blatant infringement of worldwide regulation.
“Putin’s conflict of choice in Ukraine keeps on negatively affecting blameless regular folks in Ukraine, powering one of the most obviously awful compassionate emergencies Europe has found in many years,” expressed Secretary of Commerce Gina M. Raimondo. “Putin and the oligarchs who fund him have gotten rich off of Putin’s uncontrolled debasement and the exploitation of the Russian public. We won’t permit Putin and his cohorts to keep living in extravagance while causing colossal affliction all through Eastern Europe. The present activity removes one more wellspring of solace and advises them that Russia is progressively secluded.”
The Deputy Secretary of Commerce Don Graves said “The Department of Commerce will continue to vigorously exercise its authorities to deprive the Russian leadership of the material support it needs to sustain its aggression as well as the material comfort that insulates them from the harm they are inflicting, The people who have benefited most from Putin’s rule should know that they are international pariahs and that their money cannot insulate them from the unlawful actions they have facilitated. This action also targets Russian and Belarusian oligarchs and other malign actors who have supported Putin.”
The Assistant Secretary of Commerce for Export Administration Thea D. Rozman Kendler said “Before today, controls on luxury goods only applied to rogue state North Korea—a regime where its leaders and their political cronies live in opulence while their people struggle. Today’s action should remind Putin and his Russian and Belarusian cronies that the world strongly condemns the horrors they have wrought. The U.S. and our allies and partners will continue to stand together in imposing severe consequences on Russia and Belarus for the continued invasion of Ukraine.”
Today’s rule imposes significant restrictions on persons and organizations within Russia and Belarus that have the financial resources to purchase U.S.-origin luxury goods. Additionally, this rule imposes additional costs on certain Russian and Belarusian oligarchs and malign actors (regardless of their location) who have been designated by the Department of the Treasury as Specially Designated Nationals in connection with their support for the Russian government. This action underscores the consequences of Russia’s invasion of Ukraine and also demonstrates to influential Russian and Belarusian individuals the material impact on their lifestyle for their support of the Russian government’s actions in Ukraine.
The rule provides a list of U.S.-origin luxury goods that are impacted by today’s sanctions and includes certain spirits, tobacco products, clothing items, jewelry, vehicles, and antique goods.
The rule takes effect when released in the Federal Register on March 11, 2022.
For more information on the Commerce Department’s actions in response to Russia’s invasion of Ukraine is available online here.
For more information, visit www.bis.doc.gov.
