US seafood companies have more time to import product from Russia in order to comply with President Joe Biden's executive order prohibiting seafood of "Russian Federation origin" as part of its response to Russia's invasion of Ukraine.
The US Department of the Treasury on Thursday issued an update to its order, stating the US Office of Foreign Assets Control (OFAC) will give seafood companies until June 23 to import products from Russia before they are banned.
Previously, the agency said companies would have until Friday, March 25.
The language in the update appears to offer leeway to products already on order, and indicates that some imports could be cleared even after June 23.
The US says it will also offer Russia-related general licenses "to authorize the import, for a limited time, of certain items pursuant to pre-existing written contracts or written agreements" that will authorize "importing fish, seafood, and preparations thereof."
The US Treasury said the Office of Foreign Assets Control could also issue licenses on a "case-by-case basis" for shipments occurring after the deadline.
Russia was the eighth largest direct seafood exporter by value to the United States in 2021 at $1.2 billion (€1.1 billion). The country's primary products were snow crab, king crab, and cod.
Biden announced March 11 that the United States will ban imports of Russian seafood as well as strip most favored nation status from Russia as part of its response over war in Ukraine.
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