On May 26, 2022, the US Department of Commerce’s Bureau of Industry and Security issued a final rule updating the scope of License Exceptions Authorized Cybersecurity Exports Encryption Commodities, Software, and Technology related to cybersecurity items in response to public comments on the interim final rule related to cybersecurity items published on 21 October 2021. The interim final rule established a new control on certain cybersecurity items for National Security and Anti-terrorism reasons and created License Exception ACE in Section 740.22 of the Export Administration Regulations, which authorizes exports of identified cybersecurity items to most destinations except in certain circumstances.
Baker McKenzie’s Sanctions Blog published the alert titled OFAC Publishes New and Amended FAQs Regarding the Russia Investment Ban on 8 June 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
On May 16, 2022, the US Departments of State and Treasury and the Federal Bureau of Investigation issued a joint advisory alert to the public about attempts by the Democratic People’s Republic of Korea (“DPRK” a.k.a. North Korea) and DPRK information technology (“IT”) workers posing as non-DPRK nationals to obtain employment outside of North Korea. The Advisory provides guidance to help prevent inadvertent recruitment, hiring, and facilitation of North Korean IT workers, as the hiring or support of DPRK IT workers may create business risks that range from theft of data, intellectual property, and funds, to sanctions-related risks under both US and United Nations authorities.
Baker McKenzie’s Sanctions Blog published the alert titled OFAC issues new and amended Russia-related general licenses and FAQs; BIS issues new Russia-related FAQs on 9 May 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
Baker McKenzie’s Sanctions Blog published the alert titled BIS Updates List of Aircraft Exported to Russia or Belarus in Apparent Violation of the EAR on 23 April 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.