The State Department said it is waiving implementation of certain Iranian sanctions through Nov. 24. The waiver extension is part of a relief deal struck between Iran and P5+1 countries, which include the U.S., Russia, China, United Kingdom, France and Germany. The Treasury Department’s Office of Foreign Assets Control also extended the sanctions relief in recent days (see 14072525). The relief liberalizes restrictions on Iranian exports of petrochemical products, Iran’s purchase and sale of gold and precious metals, the provision of goods and services to Iran’s automotive sector, and the licensing of safety-of-flight inspections and repairs for Iranian civil aviation, and establishes channels to permit importation of humanitarian goods (see 14012715).
Russia export controls and sanctions
The use of export controls and sanctions on Russia has surged since the country's invasion of Crimea in 2014, and especially its invasion of Ukraine in in February 2022. Similar export controls and sanctions have been imposed by U.S. allies, including the EU, U.K. and Japan. The following is a listing of recent articles in Export Compliance Daily on export controls and sanctions imposed on Russia:
The Treasury Department’s Office of Foreign Assets Control (OFAC) added individuals, entities and vessels to the Specially Designated Nationals (SDN) list, including additions of sectoral identifications, on July 29 (here) and 30 (here).
On July 29-30 the Foreign Agricultural Service posted the following GAIN reports:
The Commerce Department’s Bureau of Industry and Security expanded its export restrictions on Russia as part of a series of increased sanctions on Russia related to the country's continued role in Ukranian political unrest. "BIS will institute a policy denying export, reexport or foreign transfer of certain items for use in Russia’s energy sector that may be used for exploration or production from deepwater, Arctic offshore, or shale projects that have the potential to produce oil," the agency said. BIS said it will also add OJSC United Shipbuilding to its Entity List. "While these sanctions do not target or interfere with the current supply of energy from Russia or prevent Russian companies from selling oil and gas to any country, they make it difficult for Russia to develop long-term, technically challenging future projects."
No antidumping duty order will be issued, and no AD duties will be imposed, on imports of ferrosilicon from Russia (A-549-829), said the Commerce Department in its final determination. The agency continued to find that Russian companies didn't dump subject merchandise in the United States, calculating a zero AD duty rate for the only company under review, RFA International LP. Commerce's preliminary determination in March was also negative, so liquidation has never been suspended and cash deposits have never been required on imports of ferrosilicon from Russia.
The Commerce Department issued its final determinations in the antidumping duty investigations on ferrosilicon from Russia and Venezuela, finding dumping by Venezuelan exporters but not Russian companies and therefore exempting Russia from AD duties. Commerce's July 25 fact sheet says it calculated a 22.84% AD duty rate for Venezuelan producers. But just as it had in its preliminary determination, Commerce calculated a zero rate for the only Russian company under investigation. Commerce will now terminate the AD duty investigation on ferrosilicon from Russia, and will not issue an AD duty order. The agency will direct CBP to continue to collect AD duty cash deposits on subject merchandise from Venezuela.
The World Health Organization issued the following health alerts since the last ITT travel and health warning updates:
The sanctions relief deal struck between Iran and P5+1 countries in January will be extended through Nov. 24, 2014, said the Treasury Department’s Office of Foreign Assets Control (OFAC). The P5+1 countries include the U.S., Russia, China, United Kingdom, France and Germany. The sanctions relief was originally set to expire on July 20. The relief liberalizes restrictions on Iranian exports of petrochemical products, Iran’s purchase and sale of gold and precious metals, the provision of goods and services to Iran’s automotive sector, and the licensing of safety-of-flight inspections and repairs for Iranian civil aviation, and establishes channels to permit importation of humanitarian goods (see 14012715).
On July 23 the Foreign Agricultural Service posted the following GAIN reports:
Recent U.S. sanctions on Russians and Ukrainians accused of fueling turmoil in Ukraine are having and likely will continue to have an unclear impact on the Russian economy, said the Congressional Research Service (CRS) in a July 18 briefing, citing prominent arguments among unspecified analysts. Many analysts believe unilateral U.S. sanctions will not have the level of impact the Obama administration is targeting, noting that cooperative European sanctions are critical, said CRS. “Some argue that the direct effects on Russia's economy overall could be limited, because the United States accounts for a small share of Russia's trade and capital inflows,” said CRS. “Russia's economic relationship with Europe is much stronger.” U.S. sanctions on the Russian financial sector could, however, significantly “disrupt” the Russian economy, and the measures may also undermine investor confidence in Russia, said CRS.