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US Commerce Department expands export controls to cover people, entities under sanctions

( March 20, 2024, 19:42 GMT | Official Statement) -- MLex Summary: The US Commerce Department’s Bureau of Industry and Security (BIS) released a final rule to impose additional restrictions under the Export Administration Regulations (EAR) on persons identified under 14 sanctions programs maintained by the US Treasury Department's  Office of Foreign Assets Control (OFAC). The rule ensures that persons and entities blocked under fourteen OFAC sanctions programs will also automatically be subject to stringent export, reexport, and transfer (in-country) controls under the EAR, BIS said.Statement and rule follows below:...

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