OFAC licences certain incidental transactions with Russia’s FSB

fsb-building-1OFAC has issued a general licence authorising US companies to request and pay for licences from Russia’s Federal Security Service (FSB) for the export of certain IT products to Russia.  A link to the new licence is here.

The FSB is responsible for authorising the import of electronic goods with encryption functions into Russia.  A prohibition on transacting with the FSB, imposed in response to Russia’s alleged involvement in hacking related to the US election, was therefore having the unintended consequence of preventing US companies from exporting certain IT products to Russia.  The exports themselves must still be licenced by the Bureau of Industry and Security, and payments to the FSB for licences must not exceed $5,000 per annum.

This entry was posted in Russia, USA by Maya Lester QC. Bookmark the permalink.

About Maya Lester QC

Maya Lester QC has a wide ranging practice in public law, European law, competition law, international law, human rights & civil liberties. She has a particular expertise in sanctions. As the most recent (2016) Chambers & Partners directory put it, she "owns the world of sanctions". She spent 2011-12 in New York at Columbia Law School lecturing and writing on sanctions. She represents and advises hundreds of companies and individuals before the European and English courts and has acted in most of the leading cases, including Kadi, Tay Za, Central Bank of Iran, NITC and IRISL.

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