United States:
BIS Issues First Published Guidance On The Short Supply Controls
31 December 2015
Reed Smith
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Today, the U.S. Department of Commerce, Bureau of Industry and
Security ("BIS") issued the first-ever published guidance
on the Short Supply Controls, the regulations that limit the export
of crude oil out of the United States. The guidance, provided in
the form of Frequently Asked Questions ("FAQs"), sheds
light on a number of issues, including the definition of
"crude oil" under BIS regulations and the extent to which
crude oil must be processed in order to qualify as a product that
is exportable without prior BIS authorization.
Click
here for the issued Client Alert.
This article is presented for informational purposes only
and is not intended to constitute legal advice.
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