Alongside the additional Russia designations and export controls imposed by the US last week (previous post), OFAC issued a Determination Pursuant to Section 1(a)(i) of Executive Order (E.O.) 14024 and a Determination Pursuant to Section 1(a)(ii) of E.O. 14071, as well as 2 Russia-related General Licences (GLs). These are summarised below. OFAC Press Release, Notice, Notice & Notice.
Determination Pursuant to Section 1(a)(i) of E.O. 14024
This Determination identifies the quantum computing sector of the Russian economy pursuant to E.O. 14024 and allows for sanctions to be imposed on any person / entity determined to operate or have operated in this sector.
Determination Pursuant to Section 1(a)(ii) of E.O. 14071
This Determination prohibits the export, reexport, sale or supply (directly or indirectly) from the US or by a US person / entity, wherever located, of quantum computing services to any person / entity located in Russia.
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Michael is Senior Partner at Peters & Peters LLP. He has acted in many of the most high profile and sensitive business crime cases of the last 25 years, at Peters & Peters LLP...