OFAC: RUSSIA-RELATED SANCTIONS DESIGNATIONS; GENERAL LICENSES; NEW AND UPDATED FAQ

On 22 February, OFAC announced that –

  • Directive 1A had been issued under hew Executive Order 14024 and concerned with prohibitions related to certain sovereign debt of the Russian Federation;
  • Added 3 individuals and a large number of entities to the SDN List or Non-SDN Menu-Based Sanctions list ;
  • Issued 2 new General Licenses – authorising certain servicing transactions involving State Corporation Bank for Development and Foreign Economic Affairs Vnesheconombank; and authorizing the wind down of transactions involving State Corporation Bank for Development and Foreign Economic Affairs Vnesheconombank;
  • Issued 2 new FAQ (964 and 965); and
  • Updated several other FAQ

https://home.treasury.gov/system/files/126/russia_directive_1a.pdf

https://home.treasury.gov/system/files/126/russia_gl2.pdf

https://home.treasury.gov/system/files/126/russia_gl3.pdf

https://home.treasury.gov/policy-issues/financial-sanctions/recent-actions/20220222

https://home.treasury.gov/news/press-releases/jy0602

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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