Ofac general licenses
- Ofac general licenses. A firm that receives a license must submit monthly reports to OFAC on activities conducted under the license. Y. , LTD. Jul 18, 2024 · The Department of the Treasury’s Office of Foreign Assets Control (OFAC) is taking additional steps to provide greater transparency and information to specific license applicants by providing more detailed updates regarding the status of their applications via the public Licensing Portal. 6C. OFAC issues general licenses in order to authorize activities that would otherwise be prohibited with regard to Ukraine-/Russia-related Sanctions. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued three General Licenses to facilitate the continued flow of humanitarian assistance and other support for the Afghan people. government policy, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued Venezuela General License (GL) 41, authorizing Chevron Corporation to resume limited natural resource extraction operations in Venezuela. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued two general licenses (GLs) to support the continued flow of humanitarian assistance to the people of Afghanistan and other activities that support basic human needs in Afghanistan. 4 days ago · The Department of the Treasury's Office of Foreign Assets Control (OFAC) issued Russia-related General License 109, "Authorizing the Wind Down of Transactions Involving Certain Entities Blocked on September 13, 2024" and Russia-related General License 25F, "Authorizing Transactions Related to Telecommunications and Certain Internet-Based Communications. December 21, 2022. In addition, OFAC has updated the following lists:. Sep 5, 2024 · The Department of the Treasury's Office of Foreign Assets Control (OFAC) is issuing Russia-related General License 108, "Authorizing Limited Safety and Environmental Transactions Involving Certain Blocked Persons or Vessels. F. May 10, 2024 · The Department of the Treasury's Office of Foreign Assets Control (OFAC) is issuing Venezuela General License 8N, "Authorizing Transactions Involving Petróleos de Venezuela, S. General licenses allow all US persons to engage in the activity described in the general license without needing to apply for a specific license. P. Jul 14, 2022 · The Department of the Treasury's Office of Foreign Assets Control (OFAC) is issuing Russia-related General License 6B, General License 25C, General License 30A, General License 44 , and is publishing three amended Russia-related Frequently Asked Questions. persons to engage in all transactions with any entity WASHINGTON – Today, the U. Individuals wishing to engage in activities that may fall within the scope of a general license should review the relevant general licenses contained in the CACR to determine whether their travel-related transactions are covered by such general licenses. 13857, or by E. " Sep 4, 2024 · Selected General Licenses Issued by OFAC; Contact OFAC; Recent Actions. The new COVID-19-related GLs expand upon longstanding humanitarian Mission The Office of Foreign Assets Control ("OFAC") of the US Department of the Treasury administers and enforces economic and trade sanctions based on US foreign policy and national security goals against targeted foreign countries and regimes, terrorists, international narcotics traffickers, those engaged in activities related to the proliferation of weapons of mass destruction, and other Jun 12, 2024 · On June 12, 2024, OFAC issued Russia-related general licenses (GLs) GL 99, GL 100, and amended GL 8J, authorizing certain transactions involving MOEX, NCC, NSD, or any entity in which one of these entities owns, directly or indirectly, individually or in the aggregate, a 50 percent or greater interest (collectively, “the Blocked Entities”). The text of GL 5P is provided below. 513 and 542. Russia-related general licenses General License 88 [PDF 100 KB]—“Authorizing the Wind Down of Transactions Involving Certain Entities Blocked on February 23, 2024” Feb 28, 2022 · The Department of the Treasury's Office of Foreign Assets Control (OFAC) is issuing Russia-related Directive 4 under Executive Order 14024 and Russia-related General License 8A. " Nov 29, 2019 · OFAC issues two types of licenses – general and specific – and all license applications must contain information that is specific type of license being sought. Due to the complexities involved in the application process, it is advisable for all SDNs, creditors and other license applicants to seek guidance from an OFAC attorney. " Additionally, OFAC has issued a related, new Frequently Asked Question . (PdVSA) Necessary for the Limited Maintenance of Essential Operations in Venezuela or the Wind Down of Operations in Venezuela for Certain Entities" and Venezuela-related General License 41, "Authorizing Oct 18, 2023 · General License (GL) 9H authorizes U. S. OFAC’s action of December 20, 2022 does not restrict the scope of any existing exemptions or OFAC authorizations for humanitarian activities, including existing general licenses authorizing certain NGO activities in sanctioned jurisdictions such as the Crimea Region of Ukraine, Iran, and Syria, which have not been amended by this action Jul 30, 2015 · General Licenses. In addition, OFAC has updated two Frequently Asked Questions. (PDVSA). General Licenses. Sep 10, 2024 · FAQ 757 clearly states that US financial institutions, as of May 29, 2024, are authorized to process such U-turn transactions, given they obtain a general license under the CACR, in which Cuba or Sep 6, 2024 · On August 12, 2024, OFAC issued GL 5P to authorize certain transactions otherwise prohibited by the Venezuela Sanctions Regulations (VSR), 31 CFR part 591. 14066, E. Sep 10, 2002 · A license is an authorization from OFAC to engage in a transaction that otherwise would be prohibited. Apr 12, 2023 · The Department of the Treasury's Office of Foreign Assets Control (OFAC) is issuing Russia-related General License 62, "Authorizing the Wind Down of Transactions Involving Holdingovaya Kompaniya Metalloinvest AO, MegaFon PAO, Limited Liability Company USM Telecom, or Akkermann Cement Ca Limited Liability Company", General License 63, "Authorizing Transactions Related to Debt or Equity of, or The United States Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) has discretion to both specifically license particular transactions, as well as broadly generally authorize–i. A license is an authorization from OFAC to engage in a transaction that otherwise would be prohibited. GL 5P supersedes GL 5O, which was issued on April 15, 2024. Apr 29, 2024 · The Department of the Treasury's Office of Foreign Assets Control (OFAC) is issuing Russia-related General License 8I "Authorizing Transactions Related to Energy. 13850, each as amended by E. O. " Jun 17, 2021 · WASHINGTON — Today, in order to further aid the global fight against COVID-19, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued three general licenses (referred to as the COVID-19-related GLs) to build upon Treasury’s existing authorizations for COVID-19-related transactions and activities. Nov 26, 2022 · The Department of the Treasury's Office of Foreign Assets Control (OFAC) is issuing Venezuela-related General License 8K, "Authorizing Transactions Involving Petróleos de Venezuela, S. Apr 17, 2024 · General Licenses. Department of the Treasury's Office of Foreign Assets Control (OFAC) issued General License 44A (GL 44A) on April 17, 2024, replacing and superseding General License 44 (GL 44), which authorized certain transactions related to oil or gas sector operations in Venezuela, including transactions involving Petróleos de Venezuela S. Sep 24, 2021 · WASHINGTON — Today, the U. Selected General Licenses Issued by OFAC. " Sep 14, 2023 · The Department of the Treasury's Office of Foreign Assets Control (OFAC) is issuing Russia-related General License 55A, "Authorizing Certain Services Related to Sakhalin-2" and Russia-related General License 72, "Authorizing the Wind Down of Transactions Involving Certain Entities Blocked on September 14, 2023. Feb 23, 2024 · The U. Dec 21, 2022 · CAF America Welcomes New OFAC General Licenses for Humanitarian Aid. Applicants will now receive one of ten following case Feb 20, 2024 · The Department of the Treasury's Office of Foreign Assets Control (OFAC) is issuing Russia-related General License 83A, "Authorizing Certain Transactions Related to Imports of Certain Categories of Fish, Seafood, and Preparations Thereof Prohibited by Executive Order 14068. Today, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) released a set of new and updated General Licenses that authorize four types of broad-ranging activities supporting much-needed humanitarian aid and assistance. " In addition, OFAC has made the following changes to its SDN List. These actions underscore the United States’ commitment to support the people of Afghanistan and continue the U. (PdVSA) Necessary for the Limited Maintenance of Essential Operations in Venezuela or the Wind Down of Operations in Venezuela for Certain Entities. e. , generally license–whole categories of otherwise prohibited activities when it believes those authorizations to be in the national security and foreign policy interests of the United Aug 2, 2022 · The Department of the Treasury's Office of Foreign Assets Control (OFAC) is issuing Russia-related General License 40A, General License 43A, General License 47, General License 48, and General License 49. No. Transactions prohibited by E. " Feb 25, 2022 · Treasury’s Office of Foreign Assets Control (OFAC) is issuing Afghanistan-related General License 20 "Authorizing Transactions Involving Afghanistan or Governing Institutions in Afghanistan". In addition, the following names have been added to OFAC's list of Specially Designated Nationals. " Filter by Category All Recent Actions Dec 21, 2022 · The Department of the Treasury's Office of Foreign Assets Control (OFAC) is amending its regulations in multiple sanctions programs to add general licenses authorizing certain transactions of nongovernmental organizations and certain transactions related to the provision of agricultural commodities, medicine, medical devices, replacement parts OFAC issues general licenses in order to authorize activities that would otherwise be prohibited with regard to the Counter Terrorism Sanctions. (OFAC, within the Department of the Treasury, is one of the primary agencies responsible for enforcing economic sanctions. Dec 21, 2022 · Additionally, OFAC is updating the existing general licenses authorizing official business of the United States government in 31 CFR 510. Note 1 to General License No. Feb 10, 2023 · WASHINGTON – Today, Treasury’s Office of Foreign Assets Control (OFAC) issued Syria General License (GL) 23, which authorizes for 180 days all transactions related to earthquake relief that would be otherwise prohibited by the Syrian Sanctions Regulations (SySR). government’s longstanding practice of authorizing the provision of Jan 17, 2023 · The Department of the Treasury's Office of Foreign Assets Control (OFAC) is issuing Russia-related General License 6C "Transactions Related to Agricultural Commodities, Medicine, Medical Devices, Replacement Parts and Components, or Software Updates, the Coronavirus Disease 2019 (COVID-19) Pandemic, or Clinical Trials", Russia-related General License 54A "Authorizing Certain Transactions Apr 17, 2024 · The Department of the Treasury's Office of Foreign Assets Control (OFAC) is issuing Venezuela-related General License 44A, "Authorizing the Wind Down of Transactions Related to Oil or Gas Sector Operations in Venezuela. ) 13808 or by E. There are two types of licenses: general licenses and specific licenses. OFAC is also publishing three Frequently Asked Questions. No further permission from OFAC is required to engage in transactions by a person who meets all criteria in a general license. May 1, 2024 · The Department of the Treasury's Office of Foreign Assets Control (OFAC) is issuing Russia-related General License 95, "Authorizing Civil Aviation Safety and Wind Down Transactions Involving Limited Liability Company Aviakompaniya Pobeda," Russia-related General License 96, "Authorizing Limited Safety and Environmental Transactions Involving Certain Blocked Persons or Vessels," and Russia Apr 19, 2024 · The U. OFAC issues general licenses in order to authorize activities that would otherwise be prohibited with regard to the Syria Sanctions. " 5 days ago · The Department of the Treasury's Office of Foreign Assets Control (OFAC) has issued Global Magnitsky General License 8 - "Authorizing Transactions Involving Certain Entities Owned by Ly Yong Phat or L. OFAC issues general licenses in order to authorize activities that would otherwise be prohibited with regard to Russian Harmful Foreign Activities Sanctions. In addition, OFAC has published one new Frequently Asked Question and amended one Frequently Asked Question. 14071 include new investment in the Russian Federation and the importation into the Apr 6, 2022 · The Department of the Treasury's Office of Foreign Assets Control (OFAC) has issued Russia-related General License 8B, General License 9B, General License 10B, General License 21, General License 22, and General License 23. Afghanistan-related General License 14 - Authorizing Humanitarian Activities in Afghanistan (September 24, 2021) General licenses constitute blanket authorization for those transactions set forth in the relevant regulation and are self-selecting and self-executing. In addition, OFAC has published new Frequently Asked Questions and updated several Frequently Asked Questions. 13884, as collectively incorporated into the Venezuela Sanctions Regulations, 31 CFR part 591 (the VSR), that are ordinarily incident and necessary to dealings in any debt of, or equity in Dec 20, 2022 · The Department of the Treasury's Office of Foreign Assets Control (OFAC) is amending multiple regulations to add or revise certain general licenses (GLs) across a number of OFAC sanctions programs to ease the delivery of humanitarian aid. OFAC is also adding a general license authorizing official business of Feb 29, 2024 · The Department of the Treasury's Office of Foreign Assets Control (OFAC) is issuing Venezuela General License 45B, "Authorizing Certain Repatriation Transactions Involving Consorcio Venezolano de Industrias Aeronáuticas y Servicios Aéreos, S. OFAC has also published new Afghanistan-related Frequently Asked Questions and amended several Frequently Asked Questions. government’s longstanding practice of a specific license (1) does not excuse compliance with any law or regulation administered by the office of foreign assets control or another agency (including reporting requirements applicable to the transactions and activities therein licensed), (2) does not release the licensees or third parties from civil or criminal liability for violation Aug 2, 2024 · The Department of the Treasury's Office of Foreign Assets Control (OFAC) is issuing Russia-related General License 99A - "Authorizing the Wind Down of Transactions and Certain Transactions Related to Debt or Equity of, or Derivative Contracts Involving, MOEX, NCC, or NSD;" and Russia-related General License 100A - "Authorizing Certain Transactions Related to Debt or Equity or the Conversion of May 5, 2022 · The Department of the Treasury's Office of Foreign Assets Control (OFAC) is issuing Russia-related General License 7A, General License 26A, General License 31, and General License 32. SPECIALLY DESIGNATED NATIONALS LIST UPDATE A license is an authorization from OFAC to engage in a transaction that otherwise would be prohibited. persons to engage in all transactions prohibited by subsection 1(a)(iii) of Executive Order (E. 14068, and E. May 2, 2022 · The Department of the Treasury's Office of Foreign Assets Control (OFAC) is issuing Russia-related General License 30, "Authorizing Transactions Involving Gazprom Germania GmbH Prohibited by Directive 3 under Executive Order 14024. In addition, the following name has been updated on OFAC's list of Specially Designated Nationals: Nov 2, 2023 · The Department of the Treasury's Office of Foreign Assets Control (OFAC) is issuing Russia-related General License 13G, "Authorizing Certain Administrative Transactions Prohibited by Directive 4 under Executive Order 14024"; Russia-related General License 74, "Authorizing the Wind Down and Rejection of Transactions Involving East-West United Bank"; Russia-related General License 75 General Licenses. Guidance on OFAC Licensing Policy General Licenses. Persons traveling pursuant to a general license do not need to notify OFAC of their travel plans. A general license authorizes a particular type of transaction for a class of persons without the need to apply for a license. OFAC issues general licenses in order to authorize activities that would otherwise be prohibited with regard to Iran. 522, as well as corresponding text in 31 CFR 510. The following names have been added to OFAC's list of Specially Designated Nationals list (SDN List) or have been updated on OFAC's Non-SDN Menu Based Sanctions List No. " Jun 12, 2024 · OFAC is also issuing Russia-related General License 6D - "Transactions Related to Agricultural Commodities, Medicine, Medical Devices, Replacement Parts and Components, or Software Updates, the Coronavirus Disease 2019 (COVID-19) Pandemic, or Clinical Trials;" Russia-related General License 8J - "Authorizing Transactions Related to Energy Mar 2, 2022 · The Department of the Treasury's Office of Foreign Assets Control (OFAC) is issuing Russia-related General License 9A, General License 10A, General License 13, and General License 14. Dec 15, 2022 · The Department of the Treasury's Office of Foreign Assets Control (OFAC) is issuing Russia-related General License 8E,"Authorizing Transactions Related to Energy," General License 58, "Authorizing the Wind Down and Rejection of Transactions Involving Public Joint Stock Company Rosbank," and General License 59, "Authorizing Transactions Related to Debt or Equity of, or Derivative Contracts May 1, 2023 · The Department of the Treasury's Office of Foreign Assets Control (OFAC) is issuing Venezuela General License 42, "Authorizing Certain Transactions Related to the Negotiation of Certain Settlement Agreements with the IV Venezuelan National Assembly and Certain Other Persons. Specifically, OFAC must establish a pilot program to provide licenses allowing firms to conduct such transactions. GL 5P was made available on OFAC's website ( https://ofac. Oct 18, 2023 · The Department of the Treasury's Office of Foreign Assets Control (OFAC) is issuing Venezuela-related General License 3I, General License 5M, General License 9H, General License 43, General License 44 and General License 45. “Our deepest condolences go out to the people of Türkiye and Syria for the tragic loss of life and destruction in the wake of (d) Effective January 17, 2023, General License No. Certain activities related to the Cuba sanctions may be allowed if they are licensed by OFAC. Mar 24, 2022 · The Department of the Treasury's Office of Foreign Assets Control (OFAC) is issuing Russia-related General License 6A, General License 17A, General License 20, and Ukraine-/Russia-related General License 25. gov) when it was issued. OFAC issues general licenses in order to authorize activities that would otherwise be prohibited with regard to Venezuela. Afghanistan-Related Sanctions. OFAC is also issuing two new Venezuela-related Frequently Asked Questions (FAQs 1136, 1137), amending four related FAQs Jul 10, 2024 · The Department of the Treasury's Office of Foreign Assets Control (OFAC) is issuing Russia-related General License 13J, "Authorizing Certain Administrative Transactions Prohibited by Directive 4 under Executive Order 14024. Visit the link below to apply for an OFAC license. Jun 21, 2024 · On May 16, 2024, the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) published a final rule amending the Iranian Transactions and Sanctions Regulations, 31 C. Displaying 1 - 10 of 2785 results. Group Co. This action continues the U. Jul 22, 2022 · The Department of the Treasury's Office of Foreign Assets Control (OFAC) is issuing Russia-related General License 45 and General License 46. Nov 26, 2022 · Following this announcement and consistent with U. 6B, dated July 14, 2022, is replaced and superseded in its entirety by this General License No. OFAC is also publishing two new Frequently Asked Questions and two amended Frequently Asked Questions. Group are prohibited as a result of OFAC's designation, OFAC concurrently issued Global Magnitsky General License (GL) 8 authorizing U. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today released the following Russia-related documents. " Feb 22, 2022 · The Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing Russia-related Directive 1A under Executive Order 14024 and is issuing Russia-related General License 2 and General License 3. Apply for an OFAC License Online - Authorization from OFAC to engage in a transaction that otherwise would be prohibited. 213 and 542. R Part 560 (“ITSR”), to incorporate OFAC General License (“GL”) D-2 and the preexisting list of items deemed incident to communications that are authorized for export or reexport to Iran under GL Although transactions or other dealings involving Ly and L. OFAC has also published two new Frequently Asked Questions (FAQ 964 and FAQ 965) and updated several Frequently Asked Questions. 211 to conform to current standards for OFAC general licenses. treasury. A. pmumdy mhxjgql ptkqj hecobh vhzb wsr zhlv xsgqihmy dwkllr ngcgk