The US Adds 71 Russia, Belarus Entities to the Restricted Business List

    Bloomberg News reports that the United States added as many as 71 entities based in Russia and Belarus to its list that prevents American companies from doing business with the restricted firms unless a government license is obtained, thereby making restrictions amidst the ongoing war in Ukraine more stringent.

    The impacts of this action 

    This action taken on Thursday increases the number of parties added to the so-called Entity List, which the Commerce Department’s Bureau of Industry and Security runs to around 322 since the Russian invasion of Ukraine on February 24th, as revealed in a statement by the BIS. 

    These restrictions limit the ability of Russia to get the items and the technologies it requires for the sustainability of its military aggression, as stated by Under Secretary of Commerce for Industry and Security, Alan Estevez. 

    Commerce spent months before the invasion of Russia towards the end of February coordinating controls related to potential exports with the global allies to ensure that Moscow would not simply replace or substitute technology exports from another country for those that the United States prevented. The norms are being used to avoid Russia accessing those products used in the defense, maritime, and aerospace sectors. 

    The department’s efforts have resulted in 37 countries, including Australia, Japan, and European Union’s member nations joining the United States in imposing expansive controls on the things or items they export to Russia. 

    Bloomberg News reports that since February 24th, when the BIS’s first new rule was put into effect, the total US exports to Russia dropped drastically. 



    RELATED ARTICLES

    Business Cards

    Unlocking the Power of Business Cards: Networking Essentials for Success

      Table of Contents Introduction The Evolution of Business Cards Why Business Cards Still Matter Designing...
    Lab-Grown Diamonds

    The Science Behind Lab-Grown Diamonds: How They’re Made and Why They Shine Bright

    Introduction: Welcome to the dazzling world of lab-grown diamonds, where science meets sparkle! If you've ever...
    IT Providers

    How Do Outsourced IT Providers Fuel Business Growth?

    In an era where technology seamlessly integrates into every facet of a business, maintaining an...
    Workplace Diversity

    Navigating Workplace Diversity: Building Inclusive Teams and Fostering Cultural Understanding

    In today's globalized and interconnected world, workplace diversity has become more than just a buzzword—it's...
    Eyewear Innovations

    Eyewear Innovations: How Eyebuydirect CEO Sunny Jiang Is Leading the Way

    With the increasing use of digital devices and the widespread promotion of eye health, vision,...
    Client Meetings

    Why Schedule Commercial Cleaning Before Client Meetings?

    First impressions hold immense power, especially in the business world. How you and your environment...
    MBA Programme

    Dual Degree MBA Programme: A Unique Educational Opportunity

    In today's world, professional success requires more than traditional management skills. It calls for a...
    women ipl

    Women IPL Sensation Shreyanka Patil: From Fan to Champion

    In a cricketing universe usually ruled by dudes, Shreyanka Patil, the rookie wonder for Royal...
    Monetize Magnet

    Monetize Magnet Review – The Best Crypto and Forex CPA Network

    In today's world, cryptocurrency has reached new heights, expanding continuously and providing online earning opportunities...
    celsius drink

    Celsius Drink – What Is It and How Safe Is It?

    These days, you must come across your social media feeds with an advertisement for a...
    low porosity hair

    Low Porosity Hair Problem? Slay Locks with Moisture Miracle

    Have you ever experienced your hair being stubbornly resistant to moisture? That's low porosity hair...