OFAC: Russia sanctions – new Executive Order and General Licenses; plus new and amended FAQ and Designations

On 11 March, OFAC announced that a further Executive Order “Prohibiting Certain Imports, Exports, and New Investment with Respect to Continued Russian Federation Aggression”.  It also issued new General Licenses 17, 18 and 19, as well as Ukraine-related General License 23.  There are also 8 new FAQ and 1 FAQ (1007) which has been amended.  A number of individuals are added to sanctions lists, together with 3 entities, 1 yacht (the Tango, which flies a Cook Island flag) and an aircraft linked to Viktor VEKSELBERG.  A number of existing entries (including Vekselberg) were also amended.

https://home.treasury.gov/system/files/126/russia_eo_20220311.pdf

https://home.treasury.gov/policy-issues/financial-sanctions/faq/added/2022-03-11

https://home.treasury.gov/policy-issues/financial-sanctions/faq/updated/2022-03-11

https://home.treasury.gov/policy-issues/financial-sanctions/recent-actions/20220311

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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