OFAC/OFSI Humanitarian Factsheet Published

Posted

In furtherance of the recent commitments by the United States and United Kingdom to protect humanitarian activity from the unintended impacts of sanctions and in support of the enhanced partnership between the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) and His Majesty’s Treasury’s Office of Financial Sanctions Implementation (OFSI), OFAC and OFSI are publishing a joint Humanitarian Assistance and Food Security Fact Sheet to provide additional clarity on U.S. and UK Russia-related sanctions and the relevant authorizations, exceptions, and public guidance.

The fact sheet cites current US and UK regulations concerning:

  • Exceptions for non-government organisations (NGOs) or international organizations (IOs) providing humanitarian assistance.
  • U.S. and UK financial institutions are permitted to process transactions related to the exportation of agricultural commodities, medicine, or medical devices to, from, transiting, or related to Russia.
  • U.S. and UK financial institutions processing transactions involving Joint Stock Company Russian Agricultural Bank (Russian Agricultural Bank) related to the exportation of agricultural commodities to, from, transiting, or related to Russia.

[fact sheet]