Tuesday, the US Bureau of Industry and Security (BIS), announced it would ban export/reexport of goods that are used for deepwater, arctic or shale oil exploration projects. In addition the press release says it will also specifically ban unlicensed dealings with OJSC United Shipbuilding Corporation “based on a determination it is involved, or poses a significant risk of becoming involved, in activities contrary to the national security and foreign policy interests of the United States. Designation on the Entity List imposes a license requirement for the export, reexport or foreign transfer of items subject to the Export Administration Regulations to the designated entities, with a presumption of denial.”
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