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3 amended Russia-related GLs… and FAQs

Issuance of Russia-related General Licenses and Amended Russia-related Frequently Asked Questions Release date 01/17/2023 Body The Department of the Treasury’s Office of Foreign Assets Control (OFAC) is issuing Russia-related General License 6C “Transactions Related to Agricultural Commodities, Medicine, Medical Devices, Replacement Parts and Components, or Software Updates, the Coronavirus Disease […]

Remember inflation? OFAC does

Implementation of the Federal Civil Penalties Inflation Adjustment Act 01/12/2023 The Department of the Treasury’s Office of Foreign Assets Control (OFAC) is amending its regulations to implement for 2023 the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended by the Federal Civil Penalties Inflation Adjustment Act Improvements Act […]

OFAC updates Venezuela GL 31 & amends 5 FAQs

OFAC has updated Venezuela General License 31 (new version is 31B). The new version explicitly excludes transactions involving the new National Constituent Assembly (which was seated last week): 5 Frequently Asked Questions (FAQ) were also updated: Venezuela Sanctions 680. Does the blocking of the Government of Venezuela impact the ability […]

Yesterday at OFAC: Iran addition, Nicaragua & Venezuela removals, counter terror updates, and a new Russia FAQ

OFAC today added the following individuals: HASSANZADEH, Hassan (a.k.a. HASSANZADEH, Hasan (Arabic: حسن حسنزاده)), Tehran, Iran; DOB 21 Mar 1957; nationality Iran; Additional Sanctions Information – Subject to Secondary Sanctions; Gender Male; IRGC Brigadier General (individual) [IRGC] [IRAN-HR] (Linked To: ISLAMIC REVOLUTIONARY GUARD CORPS). HOSSEINI, Seyed Sadegh (Arabic: سید صادق […]