OFAC Update: Russia-related Designation Removals and General License Issuance
The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has issued a recent update to its sanctions lists, removing several entities and individuals from the Specially Designated Nationals (SDN) list and issuing a new Russia-related general license.
Entities Removed from SDN List:
- PROMINVESTBANK (a.k.a. COMMERCIAL INDUSTRIAL AND INVESTMENT BANK PUBLIC JOINT STOCK COMPANY; a.k.a. JOINT STOCK COMMERCIAL INDUSTRIAL AND INVESTMENT BANK PUBLIC JOINT STOCK COMPANY; a.k.a. PSC PROMINVESTBANK; a.k.a. PUBLIC STOCK COMPANY JOINT STOCK COMMERCIAL INDUSTRIAL AND INVESTMENT BANK), a Ukrainian financial institution.
- FLYING FOX (ZGHN) Yacht, a Cayman Islands-flagged vessel.
- RETTICH, Inga, a Swiss citizen.
Entities Removed from Sectoral Sanctions Identifications List:
- PROMINVESTBANK (a.k.a. COMMERCIAL INDUSTRIAL AND INVESTMENT BANK PUBLIC JOINT STOCK COMPANY; a.k.a. JOINT STOCK COMMERCIAL INDUSTRIAL AND INVESTMENT BANK PUBLIC JOINT STOCK COMPANY; a.k.a. PSC PROMINVESTBANK; a.k.a. PUBLIC STOCK COMPANY JOINT STOCK COMMERCIAL INDUSTRIAL AND INVESTMENT BANK), a Ukrainian financial institution.
General License Issuance:
OFAC has issued General License 13K, authorizing certain administrative transactions prohibited by Directive 4 under Executive Order 14024.
Country Breakdown:
The removed entities and individuals are from the following countries:
- Ukraine: 1 entity
- Switzerland: 1 individual
- Cayman Islands: 1 vessel
Note: These updates are subject to change and may not reflect the current status of these entities and individuals.
Referrence link: OFAC link
