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OFAC gets picky on petro projects…

On Tuesday, OFAC added another question to its FAQ for the Ukraine-related sanctions program: 418. How does OFAC interpret the term “shale projects” with respect to the prohibitions in Directive 4 under Executive Order 13662? The prohibitions in Directive 4 under Executive Order 13662 apply to deepwater, Arctic offshore, or […]

August 13, 2014: OFAC updates the 50% rule

Yesterday, OFAC issued updated guidance on “Entities Owned by Persons Whose Property and Interests in Property Are Blocked” – and an FAQ: These Frequently Asked Questions (FAQs) respond to inquiries received by the Department of the Treasury’s Office of Foreign Assets Control (OFAC) relating to the status of entities owned […]

July 28, 2014: 6 new OFAC Ukraine FAQs

Here's the new section, in its entirety: Questions Related to Sectoral Sanctions under Executive Order 13662 Print This entire FAQ topic 370. What is this prohibition under Executive Order (E.O.) 13662? Is it a blocking action? The sanctions imposed today on specified persons operating in sectors of the Russian economy […]