OFAC ADDS 6 ENTITIES AND 1 INDIVIDUALS TO SANCTIONS LISTS, A NEW DIRECTIVE AND GENERAL LICENSE

On 28 February, OFAC announced that it had added 1 individual and 6 entities (including the Russian Central Bank, the Ministry of Finance and the National Wealth Fund) to its Russia sanctions lists.  It also issued General License 8A which authorised certain transactions relating to energy supplies, and Directive 4 under EO 14024 concerning the prohibitions related to transactions involving the Central Bank of the Russian Federation, the National Wealth Fund of the Russian Federation, and the Ministry of Finance of the Russian Federation.

https://home.treasury.gov/system/files/126/eo14024_directive_4_02282022.pdf

https://home.treasury.gov/system/files/126/russia_gl8a_1.pdf

https://home.treasury.gov/policy-issues/financial-sanctions/recent-actions/20220228

https://home.treasury.gov/news/press-releases/jy0612

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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