US Blocks More Russian Elites, Imposes Import Restrictions on Energy & More, Adds Export Controls on Luxury Goods
Watch Out, More Things Are Luxury Than You Think!
On March 11, 2022, the President issued Executive Order 14068 (EO 14068) Prohibiting Certain Imports, Exports, and New Investment with Respect to Continued Russian Federation Aggression, triggering a series of new regulations (and some guidance) from several US Government Agencies addressing the import and export of everything from alcoholic beverages to camping gear, cars, and a splattering of sports equipment, new investment restrictions, and blocking of additional Russian elites and their families.
The President also announced several other trade actions related to Russia and Belarus, including a plan to work with Congress to pass the pending legislation (S.3786) to deny most-favored-nation (MFN) to Russia by revoking Russia’s permanent normal trade relations (PNTR) status which would increase import duties on Russian goods.
Click the link to read our detailed analysis of these developments.
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