OFAC Russia Info Update

Compliance Advisory, FAQs, Six New GLs Software Determination


To support the Department's announcement of over 300 new sanctions Wednesday, Treasury's Office of Foreign Assets Control (OFAC) is publishing Determinations, General Licenses and FAQs relating to trade with Russia and Belarus.

OFAC has issued a Determination Pursuant to Section 1 (a)(ii) of Executive Order 14071, "Prohibition on Certain Information Technology and Software Services."

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;" Russia-related General License 25D - "Authorizing Transactions Related to Telecommunications and Certain Internet-Based Communications;" Russia-related General License 98 - "Authorizing the Wind Down of Transactions Involving Certain Entities Blocked on June 12, 2024;" Russia-related General License 99 - "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 100 - "Authorizing Certain Transactions Related to Debt or Equity or the Conversion of Currencies Involving MOEX, NCC, or NSD;"

Additionally, OFAC is issuing eight new, Russia-related Frequently Asked Questions (FAQs 1181 - 1188) and 10 amended, Russia-related Frequently Asked Questions (FAQs 976, 1040, 1068, 1122, 1128, 1146, 1147, 1148, 1151, 1152).

Furthermore, OFAC is publishing an updated Compliance Advisoryto provide guidance to foreign financial institutions on the amendments to E.O. 14024, including practical guidance on how to identify sanctions risks and implement corresponding controls.

The SDN list has also been updated.  Please visit the Sanctions List Service (SLS) page to access the latest version of the SDN list.  Additionally, the Sectoral Sanctions Identification (SSI) list has also been updated. Check this page periodically as it may also be updated if a new list-related format or product is offered.

Please visit this link for more information on today's update.


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