Shipping Russia banned goods may lead to blacklisting, U.S. warns companies

• The Biden administration is threatening to add companies to a trade blacklist if they skirt new export curbs against Russia, as it ramps up efforts to keep a vast array of technology out of the country after it invaded Ukraine last month. 
• The U.S. Department of Commerce, which oversees export controls, is mobilizing staff around the globe to halt illicit shipments of computers, aircraft parts, marine equipment and other technology to Russia, partnering with allied countries and U.S. law enforcement agencies like the FBI and the Department of Homeland Security to crack down on the newly illegal trade, according to U.S. officials. 
• The goal is to enforce sweeping new restrictions on shipments to Russia of both U.S. and foreign commodities, technology and software if produced with U.S. equipment, technology or software. The restrictions also apply to Belarus. 
• Already some of the biggest names in tech, like Microsoft Corp (MSFT.O) and Intel Corp, have announced they will halt shipments to Russia. U.S. exports to Russia were under $5.0Bn in 2020, according to the Commerce Department but, a senior official has said, multilateral cooperation means more than $50.0Bn in key inputs to Russia may be curbed.

 (Source: Reuters)