OFAC Updates: Russia-Related Designations and General Licenses Issued
The Office of Foreign Assets Control (OFAC) has recently issued Russia-related designations and general licenses, as well as an updated frequently asked question (FAQ) and a regulatory amendment. This update affects individuals and entities from Russia and may have implications for businesses and individuals operating in the region.
Designations:
A total of three individuals and three entities were added to OFAC’s Specially Designated Nationals (SDN) List. The individuals designated are:
- KISELEV, Dmitry Konstantinovich, a Russian national with a secondary sanctions risk.
- PARUTENKO, Nelli Alekseyevna, a Russian national with a secondary sanctions risk.
The entities designated are:
- AUTONOMOUS NON PROFIT ORGANIZATION TV NOVOSTI (RT), a Russian media organization with a secondary sanctions risk.
- AVTONOMNAYA NEKOMMERCHESKAYA ORGANIZATSIYA SODEYSTVIYA RAZVITIYU MEZHDUNARODNOVO SOTRUDNICHESTVA EVRAZIYA (ANO EVRAZIYA), a Russian organization with a secondary sanctions risk.
- FEDERAL STATE UNITARY ENTERPRISE INTERNATIONAL INFORMATION AGENCY ROSSIYA SEGODNYA (Russia Today), a Russian government agency with a secondary sanctions risk.
General Licenses:
Two general licenses were issued, allowing for the wind-down of transactions involving certain entities and the authorization of transactions related to telecommunications and certain internet-based communications.
Frequently Asked Question:
An updated FAQ was published, providing guidance on Russia-related sanctions and general licenses.
Regulatory Amendment:
A regulatory amendment was published, updating provisions related to blocking and other actions related to specific property or interests in property.
Reminders:
- Holders of blocked property are reminded to file their Annual Report of Blocked Property (ARBP) by September 30.
- Businesses and individuals operating in Russia should be aware of the implications of these designations and general licenses.
This update is a summary of recent changes and should not be considered as legal advice.
Referrence link: OFAC link
