Источник изображения: Reuters

The US authorities are in no hurry to tighten export controls against Russia and other countries

In the last days of his work as President of the United States, Donald Trump managed to approve preliminary export control rules in the field of information technology and telecommunications, which, starting May 19, would complicate the life of companies working with Russia and a number of other countries. The Biden administration intends to hold public hearings before tightening the screws.

Image source: Reuters

Image source: Reuters

In draft terms, the new rules provided for near-universal licensing of operations related to the export of certain products and technologies to China, Russia, Iran, North Korea, Cuba and Venezuela. The business community is now allowed to comment on the bill, and the US Department of Commerce is ready to listen to them before the new rules are approved by the country’s authorities.

The business community is concerned that, as it stands, the proposed rules provide the US government with almost unlimited opportunities to interfere with the foreign trade activities of many companies. They called on President Biden to suspend the adoption of the bill, as it would create a huge number of problems and would greatly increase the costs of market participants. Regulators, if necessary, to consider such a number of applications from potential licensees simply could not cope with the burden, as opponents of the initiative believe. Last week, the US Department of Commerce summoned clarifications from several Chinese information and telecommunications technology companies in the country to seek clarification on their possible impact on national security.

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