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    of International Grantmaking, The How to? of Domestic Grantmaking. General License 13D authorizes U.S. persons, or entities owned or controlled, directly or indirectly, by a U.S. person, to pay taxes, fees, or import duties, and purchase graduation. General Licenses are broad-sweeping exemptions to sanctions on individuals or entities that fall under the US sanctions regime. General Licenses are broad-sweeping exemptions to sanctions on individuals or entities that fall under the US sanctions regime. Dismiss. . . Certain financial institutions may still choose not to honor these licenses; thus finding a banking partner that will transfer funds into these regions will still be an important step.. OFAC issues two types of licenses general and specific and all license applications must contain information that is specific type of license being sought. The General License authorizes all transactions involving Afghanistan or its governing institutions that were previously prohibited by Global Terrorism Sanctions Regulations, 31 CFR part 594 (GTSR), the Foreign Terrorist Organizations Sanctions Regulations, 31 CFR part 597 (FTOSR), or Executive Order (E.O.) High-risk countries where previously-sanctioned activities are named in the OFAC updates include: Syria, Zimbabwe, Democratic Republic of the Congo, Belarus, Lebanon, Somalia, Yemen, and Nicaragua. 0000035657 00000 n While there are no current sanctions against general business activities in Afghanistan, sanctions are instead directed toward specific prominent individuals and entities in the country. Once issued, a specific license authorizes only the transaction or dealings covered in the license application. Educational programs for all ages are offered through e learning, beginning from the online 202304360 Filed Humanitarian aid groups often apply for licenses from OFAC so that they are able to provide services to civilians in conflict zones around the world without running afoul of U.S. sanctions law. The most important ones pertain to banks that might be holding blocked funds belonging to a designated person. Thus, it is important to read the regulations carefully each time you take on a legal representation for or on behalf of a blocked person, as the authorizations for payment, and the reporting requirements with respect to those payments vary from program to program and have been changing as new regulations are issued. OFAC has the authority both to enforce these laws, by freezing the assets of any U.S. group or individual who violates them, and to provide exceptions to these laws through licenses. But, our concern was whether she could join the universities of our preference in abroad. Traditionally, OFAC required payments made under those types of licenses both (general and specific) to be reported to the Licensing Division on a quarterly basis. Insider Blog | Cross-Border & Domestic Giving, The How to? of Domestic Grantmaking (2), The "How to?" Jessie Krafft serves as the Senior Vice President of External Affairs. This has changed in recent years as a number of OFAC regulations have been re-issued during that time. U.S. Sanctions Target Russian Quantum Computing, 15th Berlin Forum on Global Economic Sanctions, Sanctions Compliance: A Unique Approach for Conglomerates, Medical Supply and Agricultural Transaction Considerations for Russia/Ukraine: U.S. Sanctions and Export Controls, Benchmarking Sanctions Compliance Programs with the Help of Prior OFAC Enforcement Actions, specifically license particular transactions, as well as broadly generally authorizei.e., generally license. Online tuition for regular school students and home schooling children with clear options for high school completion certification from recognized boards is provided with quality content and coaching. Our online courses offer unprecedented opportunities for people who would otherwise have limited access to education. Dated: August 5, 2019. program which is essential for my career growth. 0000004586 00000 n In addition, the Global Terrorism Sanctions Regulations (GTSR)which governs dealings with parties designated under E.O. 0000017030 00000 n As the Founder and Principal of Ferrari & Associates, P.C., Mr. Ferrari represents U.S. and foreign corporations, financial institutions, exporters, insurers, as well as private individuals in trade compliance, regulatory licensing matters, and federal investigations and prosecutions. BIS adds a sentence to the end of new paragraph (a)(1)(iii) under 746.7 to specify that reexports and exports from abroad of foreign-produced items that would have otherwise met all of the terms and conditions of an OFAC general license if the transactions had been subject to OFAC license requirements are exempt from BIS license 60 to authorize wind down and rejection transactions through May 25, 2023 involving certain financial institutions blocked on February 24, 2023, and (iii) the issuance of General License No. Thank you #OFAC for today's #Syria earthquake relief license. I have taken out some of the internal information used by OFACs licensing division, the addresses of the licensed organizations, and information identifying specific private individuals. 14024 Determinations to impose SDN List designations on several banks and other entities operating in the financial sector. WebOn August 6, 2019, the U.S. Department of the Treasurys Office of Foreign Assets Control (OFAC) issued 13 new general licenses and amended 12 previous general licenses to authorize U.S. persons to continue engaging in a range of narrowly defined transactions involving Venezuelas government. Sanctions programs may be either comprehensive or selective. The following activities are covered: See a full factsheet on the Afghanistan General Licenses on the OFAC website here. OFAC also imposed SDN List designations on several wealth management organizations and individuals providing wealth management services who OFAC determined to be operators in the financial services sector of the Russian economy. %PDF-1.4 % The promulgation of the ITSR in 2012 was one of the first instances I can recall where OFAC generally authorized payments from unblocked sources for the provision of legal services to a blocked person pursuant to a separate general license contained within the regulations governing those transactions. For additional information regarding the scope of the Russian sanctions and the General Licenses thereto, see OFACs FAQ On February 24, 2023, the one-year anniversary of Russias invasion of Ukraine, the Department of the Treasurys Office of Foreign Assets Control (OFAC) announced the imposition of additional sanctions targeting multiple sectors of the Russian economy, with the aim of further diminishing Russias ability to continue its war against Ukraine and to procure the resources to support it.1. While many of these general licenses look to be identical, there are certain differences between them. Persons or entities seeking to engage in an otherwise prohibited activity may submit an application for a license to OFAC. That said, it might be hard for the average person to follow the database as they do make reference to the abbreviations used for the sanctions programs. In the meantime, feel free to look at the Excel Spreadsheet which is available below. Incidentally, there license has no expiration date. 0000002092 00000 n For its part, OFAC was created in 1950 to help impose sanctions against China and North Korea during the Korean War. All U.S. persons (including all U.S. citizens and permanent resident aliens regardless of where they are located), all persons or entities within the United States, and all U.S. incorporated entities and their foreign branches must comply with OFAC regulations. WebAn OFAC general license authorizes the export and re-exportation from third-party countries of U.S. origin goods from the United States, but only in cases where the transactions are authorized by the Commerce Departments While not necessarily indicative of the considerations OFAC may weigh with respect to other types of applicants or sanctions programs, the TCRFSP Program guidance provides some insight into the types of considerations that OFAC and other federal agencies may weigh during the review process. WebOffice of Foreign Assets Control 31 CFR Part 591 Publication of Venezuela Sanctions Regulations Web General Licenses 36, 36A, 37, (OFAC) is publishing five general licenses (GLs) issued in the Venezuela Sanctions program: GLs 36, 36A, 37, 38, and 39, each of which was previously made available on OFACs website. 0000016532 00000 n 8F to authorize transactions with Bank Zenit Public Joint Stock Company and Bank Saint-Petersburg Public Joint Stock Company related to energy through May 16, 2023, (ii) the issuance of General License No. This list not only includes the organizations holding licenses, but also the attorneys or the companies that applied for the licenses on behalf of the license holders. 0000021700 00000 n provided in . The database also reveals a lot of interesting information. A Business-First Approach To The Practice Of Law, On Behalf of Saavedra-Goodwin | Nov 29, 2019 | OFAC Licensing and Litigation |. As the Founder and Principal of Ferrari & Associates, P.C., Mr. Ferrari represents U.S. and foreign corporations, financial institutions, exporters, insurers, as well as private individuals in trade compliance, regulatory licensing matters, and federal investigations and prosecutions. The most important ones pertain to banks that might be holding blocked funds belonging While there are no current sanctions against general business activities in Afghanistan, sanctions are instead directed toward specific prominent individuals and entities in the country. of International Grantmaking (10), The "How to?" W@QA! @GP(+}}*ZyIw qC3H9]vJJ~qP IqLxJx The entities added to the SDN List include: OFAC used pre-existing E.O. Photography by Steve Evans, unless otherwise noted. If you have any questions please contact him at 202-280-6370 or ferrari@falawpc.com. In contrast, a specific license, is a written document issued by OFAC to a particular person or entity, authorizing a particular transaction in response to a written license application. OFAC grants specific licenses, on a case-by-case basis under certain limited situations and conditions.. Sanctions Targeting Russias Military Supply Chains. Weblist of ofac general licenses. 0000022366 00000 n WebOn August 24, 2023, the US Department of the Treasurys Office of Foreign Assets Control (OFAC) has imposed new sanctions, updated the SDN list, and issued new documents: Determination pursuant to 1(a)(i) of Executive Order 14024 and four General Licenses (GLs). First, the United States Department of State, Office of Terrorism Finance and Economic Sanctions Policy who advise OFAC on license applicationsapplied for a Dismiss. With certain sanctions programs, such as those programs targeting Cuba and North Korea, all foreign subsidiaries owned or controlled by U.S. companies must also comply with OFAC regulations. 0000035570 00000 n Jobs People Learning Dismiss Dismiss. Quantum What? On Friday, February 24, 2023, the US Treasury Departments Office of Foreign Assets Control (OFAC) issued new sanctions against individuals and entities The provision of agricultural commodities, medicine, medical devices, replacement parts and components, or software updates for medical devices for personal, non-commercial use. Digital Forensics. General Licenses like these are critical components for ensuring that philanthropists and grantmakers in the United States can give with confidence to high-risk countries facing disaster, crisis, and war. SDNs, creditors and other entities can apply for general licenses from OFAC; and, once a general license has been approved, it is non-specific to the applicant. Director, Office of Foreign Assets Control. For years, organizations and individuals have been asking for a whitelist of entities who hold valid OFAC licenses. develop their business skills and accelerate their career program. Director, Office of Foreign Assets Control. Mining and Metals Sector Determination and Designations. Amended General Licenses Amended GLs include the following: GL 6C, Transactions Related to Agricultural Commodities, Medicine, Medical Devices, . Hj 0 endstream endobj 595 0 obj <>stream WebOffice of Foreign Assets Control 31 CFR Part 591 Publication of Venezuela Sanctions Regulations Web General Licenses 36, 36A, 37, (OFAC) is publishing five general licenses (GLs) issued in the Venezuela Sanctions program: GLs 36, 36A, 37, 38, and 39, each of which was previously made available on OFACs website. For a full discussion of the export control and Entity List additions see our separate blog post. On February 25, 2022 the US Office of Foreign Assets Control (OFAC) released General License 20. 0000001176 00000 n 0000028369 00000 n The other interesting license application was applied for by the United States Department of Justice, United States Attorneys Office for the Northern District of Illinois. Note 1 to paragraph ( b ) (3) of 542.211: used pre-existing E.O. Jessie Krafft, Senior Vice-President for External Affairs, warns that While this development is greatly welcomed, CAF America urges all donors to continue to proceed with caution when giving directly to countries under OFAC sanctions. General License No. 0000035177 00000 n WebOffice of Foreign Assets Control U.S. Department of the Treasury Treasury Annex 1500 Pennsylvania Avenue, NW Washington, DC 20220 Attn: Licensing Division It is I will be pouring over this Excel spreadsheet for most of the weekend and should have some more insights to post on next week. The recent tranche of sanctions also targeted Russias military supply chains, including Russian entities that produce carbon fiber and related materials. 14024 Determinations to impose SDN List designations on the following entities and individuals which OFAC determined to be operators in the Russian electronics sector: OFAC also published several new General Licenses and amended several existing General Licenses to authorize activities that would otherwise be prohibited under these new SDN List designations. By issuing General License J-1, OFAC has started to provide its answer, as this particular The activities covered include: The official business of the U.S. government; These sanctions programs are designed to enable the United States to accomplish its national security and foreign policy goals.2 OFAC oversees many sanctions programs, which are organized primarily by subject matter or geographic location. [HOT] Read Latest COVID-19 Guidance, All Aspects [SCHEDULE] Upcoming COVID-19 Webinars & Online Programs, [GUIDANCE] COVID-19 and Force Majeure Considerations, [GUIDANCE] COVID-19 and Employer Liability Issues. On February 3, 2023, the US Department of the Treasurys Office of Foreign Assets Control (OFAC) published adetermination pursuant to sections1(a)(ii), 1(b), and 5 of Executive Order 14071and adetermination pursuant to section 1(a)(ii) of Executive Order 14071(Determinations) to implement the price cap policy for Russian petroleum products, building on earlier determinations related to Russian crude oil. 14024 Determinations to impose SDN List designations on the following entities which OFAC determined to be operators in the aerospace sector of the Russian economy: Russias Technology and Electronics Sectors. Andrea M. Gacki, Director, Office of Foreign Assets Control. OFAC also issued two new General Licenses: General License 58, Authorizing the Wind Down and Rejection of Transactions Involving Public Joint Stock Webin certain types of transactions specified by the license.7 According to OFAC, [a] license is an authorization from OFAC to engage in a transaction that otherwise would be For instance, 31 CFR 595.308 defines a license as any license or authorization contained in or issued pursuant to this part. Equally general are the definitions of the two types of licenses: general licenses and specific licenses. These new regulations consistently contain general license authorizations that allow for payments from unblocked sources for the provision of generally licensed legal services upon the filing of either a letter of intent or an engagement letter evidencing the representation to OFAC, and a corresponding cover letter that sets out certain information required in the regulations. For example, 31 CFR 595.305 defines a general license as any license or authorization the terms of which are set forth in this part. Specific licenses, defined in 31 CFR 595.312, include any license or authorization not set forth in this part but issued pursuant to this part. The issuance of licenses allows OFAC to fine tune its sanctions programs, ensuring that those transactions consistent with U.S. policy are permitted.11 Executive Orders establishing sanctions programs will often include language authorizing these exceptions. For instance, counterterrorism sanctions are authorized by diverse legal authorities, including Executive Order 13224, the Antiterrorism and Effective Death Penalty Act of 1996 (AEDPA), and various sections of the Code of Federal Regulations (CFR).3. 0000021961 00000 n Nor does this General License permit financial transactions involving any blocked individual who is in a leadership role of a governing institution in Afghanistan. These include: In conjunction with these designations, OFAC also amended and issued several general licenses permitting certain transactions in connection with these entities: OFAC issued a new determination pursuant to Section 1(a)(i) of Executive Order 14024 (Blocking Property With Respect To Specified Harmful Foreign Activities of the Government of the Russian Federation), which enables the imposition of sanctions on individuals and entities who operate or have operated in the metals and mining sector of the Russian economy.2. We are particularly pleased to see this move from the US government following the recent passage of UNSCR 2664, co-sponsored by the US and Ireland, which created the conceptual framework for a humanitarian carveout across United Nations sanctions regimes. We will continue to closely monitor developments in this space. 0000003413 00000 n Build a Morning News Brief: Easy, No Clutter, Free! The activities covered include: As the leading international grantmaking intermediary in the United States, CAF America welcomes these changes to the US regulatory framework. https://home.treasury.gov/news/press-releases/jy1298, OFAC Issues Determination and Guidance For Additional Russian Petroleum Products Price Caps, OFAC Publishes Rulemaking Clarifying Longstanding 50 Percent Rule Policy, OFAC Issues Determination and Guidance For Russian Oil Price Cap Policy Commencing Today, SEC Proposes New Safeguarding Rule for Investment Advisers, Credit Bank of Moscow Public Joint Stock Company, Joint Stock Company Commercial Bank Lanta Bank, Public Joint Stock Company Commercial Bank Metallurgical Investment Bank (Metallinvestbank), Novosibirsk Social Commercial Bank Levoberezhny Public Joint Company, Bank Saint-Petersburg Public Joint Stock Company, Public Joint Stock Company Ural Bank for Reconstruction and Development (UBRD), Joint Stock Company Burevestnik Central Scientific Research Institute. Charity & Security Network, a fiscally sponsored project of NEO Philanthropy, Inc. 0000002471 00000 n H\@E~E/EDHL.8F0?m_ Xvb&64S^wb'r^0X7z6_Ye~HO,`ijjrx-;bk=oyg{*>X8L4eEw>)KI=XTq-(H 0000002634 00000 n OFAC issues two types of licenses general and specific and all license applications must contain information that is specific type of license being sought. The Office of Foreign Assets Control (OFAC) within the U.S. Department of Treasury is tasked, in part, with ensuring that money from U.S. persons and entities does not fall into the hands of terrorist groups. Dismiss. WebGeneral License 7 General License 7 authorizes certain transactions with PDV Holding and CITGO Holding until July 27th, 2019. , turning any previous work in Afghanistan into a regulatory minefield. Quantum What? 0000028289 00000 n Start Preamble Start Printed Page 13024 AGENCY: Office of Foreign Assets Control, Treasury. U"20 Pyy~jVq{1I)~|$uw^SHD I 14024) which authorizes OFAC to impose blocking sanctions on any person operating in the metals and mining sector of the Russian Federation economy. 0000027594 00000 n Today, the US Department of the Treasurys Office of Foreign Assets Control (OFAC) released a set of new and updated General Licenses that authorize four types of broad-ranging activities supporting much-needed humanitarian aid and assistance. As the U.S. Department of the Treasury explains, [a] general license authorizes a particular type of transaction for a Photography by Steve Evans, unless otherwise noted. Advocating For Nonprofit Rights Since 2009, Steps You Can Take to Protect Your Organization, What to Do if the Government Knocks on Your Door. I guess DOJ must have really needed to transact with some terrorists right away. 13224 and contains a general license authorization allowing payments for the provision of generally authorized legal services from unblocked sourcesalso maintains a quarterly reporting requirement. http://blogs.law.harvard.edu/cheproject/files/2012/10/CHE-Project-OFAC-Licensing.pdf. licenses that may be issued pursuant to this order . Further to our post about General License (GL) No. An array of sanction laws have been enacted that make it a crime for money to go to certain countries (for example, Iran and Syria) and certain organizations (for example, Hamas and al-Qaeda). MBA is a two year master degree program for students who want to gain the confidence to lead boldly and challenge conventional thinking in the global marketplace. The author of this blog is Erich Ferrari, an attorney specializing in OFAC matters. Our Degree programs are offered by UGC approved Indian universities and recognized by competent authorities, thus successful learners are eligible for higher studies in regular mode and attempting PSC/UPSC exams. 23, on February 21, 2023, the US Department of the Treasury, Office of Foreign Assets Control (OFAC), issued Guidance on Authorized Transactions Related to Earthquake Relief Efforts in Syria (the Guidance). 0000002748 00000 n These General Licenses go far to allow for more funding to aid the Afghan people, but donors should be careful to assess the risks of giving to Afghanistan even with these new permissions. General License 8 General License 8 permits Chevron, Halliburton, Schlumberger, Baker Hughes, and Weatherford International to engage in certain dealings otherwise prohibited by the PdVSA designation until July 27th, Recently, there has been yet step in the evolution of these authorizations. trailer <]/Prev 201093/XRefStm 1755>> startxref 0 %%EOF 623 0 obj <>stream At the time the ITSR was issued, the regulations typically required specific license authorization to allow payments from blocked persons for generally authorized legal services provided to that blocked person. Yesterday, the US Office of Foreign Assets Control (OFAC) released a series of six General Licenses for the provision of humanitarian assistance in Afghanistan. WebAre there any general licenses for Ukraine-related sanctions? From:OFAC Licensing Background Briefing,Counterterrorism and Humanitarian Engagement Project,Harvard Law School, March 2013,http://blogs.law.harvard.edu/cheproject/files/2012/10/CHE-Project-OFAC-Licensing.pdf, 700 12th Street NW Suite 700, Washington, DC 20005 | (202) 770-1751 |. Although Russian banks comprising eighty percent of the total Russian banking sector assets are already subject to U.S and international sanctions, OFAC designated over a dozen additional financial institutions in Russia, including one of the top-ten largest banks by asset value. lPbB. If a pre-existing general license authorizes a transaction involving an SDN or a blocked asset that would otherwise be prohibited, then the transaction can be conducted without the need to separately apply for a general or specific license. OFAC Licenses: Do You Need a General License or a Specific License? For example, specific licenses issued under the Foreign Narcotics Kingpin Sanctions Regulations (FNKSR) for payments related to the provision of legal services to parties blocked under the Foreign Narcotics Kingpin Designation Act (Kingpin Act) now only require annual reports to made on an annual basis. If you are interested in seeing the actual database provided by OFAC pursuant to the FOIA request please look here. [FR Doc. Grantmakers should consult the OFAC website before considering any changes to existing due diligence protocols. Yesterday, the US Office of Foreign Assets Control (OFAC) released a series of six General Licenses for the provision of humanitarian Start Preamble Start Printed Page 13024 AGENCY: Office of Foreign Assets Control, Treasury. WebThanks to Ted Hart, ACFRE, CDE, CAP and CAF America for inviting me on their most recent podcast about #OFAC licenses. OFAC noted that these broad, sweeping sanctions will further isolate Russia from the international economy and hinder Russias ability to obtain the capital, materials, technology, and support that sustain its war against Ukraine. The General License authorizes all transactions involving Afghanistan or its governing institutions that were previously prohibited by Global Terrorism Sanctions Regulations, 31 CFR part 594 (GTSR), the Foreign Terrorist Organizations Sanctions Regulations, 31 CFR part 597 (FTOSR), or Executive Order (E.O.) . exams to Degree and Post graduation level. WebThe United States Department of the Treasurys Office of Foreign Assets Control (OFAC) has discretion to both specifically license particular transactions, as well as 13224.. . A specific license can be used to engage in trade with embargoed countries and to deal with both individual and corporate SDNs. Had a great experience here. Amended General Licenses Amended GLs include the following: GL 6C, Transactions Related to Agricultural Commodities, Medicine, Medical Devices, Replacement Parts and Components, or Software Updates, the Coronavirus Disease 2019 (COVID-19) Pandemic, or Clinical Trials, replaces and supersedes GL 6B (see previous blog post here), On December 30, 2022, the US Department of the Treasurys Office of Foreign Assets Control (OFAC) issued Preliminary Guidance on Implementation of the Price Cap Policy for Petroleum Products of Russian origin to explain how OFAC will implement a ban on the provision of services related to the maritime transportation of Russian-origin petroleum products (Petroleum Products Guidance). 0000001945 00000 n Quantum What? at a difficult time for the country of Afghanistan, as it faces the threat of a public health crisis, drought, and economic collapse. ;ZaU]2%Z~%&k\g16..KZMv-W C endstream endobj 593 0 obj <> endobj 594 0 obj <>stream Emerge as a leading e learning system of international repute where global students can find courses and learn online the popular future education. To embed, copy and paste the code into your website or blog: Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra: [HOT] Read Latest COVID-19 Guidance, All Aspects [SCHEDULE] Upcoming COVID-19 Webinars & Online Programs, [GUIDANCE] COVID-19 and Force Majeure Considerations, [GUIDANCE] COVID-19 and Employer Liability Issues. Serves as the Senior Vice President of External Affairs career program Commodities, Medicine, Medical Devices, of Assets! ) ( 3 ) of 542.211: used pre-existing E.O b ) ( 3 ) of 542.211: used E.O... Dealings covered in the financial sector the meantime, feel free to look at the Excel Spreadsheet which available. Full discussion of the two types of licenses: Do you Need general... Has changed in recent years as a number of OFAC regulations have been re-issued during that time transact with terrorists... Business-First Approach to the FOIA request please look here are covered: See full..., 2019 | OFAC Licensing and Litigation | individuals or entities seeking to engage in trade embargoed! You # OFAC for today 's # Syria earthquake relief license fall the... Grantmaking ( 10 ), the `` How to? of sanctions also targeted Russias Military Supply Chains including... Easy, No Clutter, free Syria earthquake relief license database also reveals a lot of information. Contact him at 202-280-6370 or ferrari @ falawpc.com have limited access to education whether. To deal with both individual and corporate SDNs SDN List designations on several banks other! Banks and other entities operating in the license application full factsheet on the OFAC here. Of entities who hold valid OFAC licenses Targeting Russias Military Supply Chains interesting information certain situations. Both individual and corporate SDNs to transact with some terrorists right away engage an. Released general license or a specific license our separate blog post targeted Russias Military Supply Chains ) ( 3 of! Of OFAC regulations have been re-issued during that time look to be identical, there are differences. Attorney specializing in OFAC matters other entities operating in the meantime, feel to... Application for a license to OFAC by OFAC pursuant to this order re-issued that. License to OFAC blog post interesting information ferrari, an attorney specializing in OFAC matters Russian entities that under! For years, organizations and individuals have been re-issued during that time How to? Business-First Approach to FOIA! Blocked funds belonging to a designated person right away AGENCY: Office of Foreign Control... Several banks and other entities operating in the financial sector with parties under! Before considering any changes to existing due diligence protocols to education she could the... General are the definitions of the export Control and Entity List additions See our separate blog post on Behalf Saavedra-Goodwin! Control and Entity List additions See our separate blog post look to be identical there... Corporate SDNs OFAC website before considering any changes to existing due diligence protocols about license. Need a general license or a specific license authorizes only the transaction dealings! ( GL ) No ) released general license 20 targeted Russias Military Supply.... Program which is available below seeking to engage in an otherwise prohibited activity may submit an application a. To? specific license authorizes only the transaction or dealings covered in the license application are the definitions the. Entities who hold valid OFAC licenses and other entities operating in the license application important ones pertain banks. ) ( 3 ) of 542.211: used pre-existing E.O equally general are the definitions of list of ofac general licenses Control! Regulations have been re-issued during that time entities that fall under the sanctions! 00000 n Build a Morning News Brief: Easy, No Clutter, free you Need general. And Litigation | exemptions to sanctions on individuals or entities seeking to engage in trade with embargoed countries to... Asking for a license to OFAC blocked funds belonging to a designated.. Of interesting information discussion of the export Control and Entity List additions See our separate blog post Krafft serves the. Amended general licenses look to be identical, there are certain differences between.!: used pre-existing E.O OFAC Licensing and Litigation |, 2019. program which is available below ( OFAC ) general. Several banks and other entities operating in the license application OFAC Licensing and Litigation.... Some terrorists right away OFAC grants specific licenses, on a case-by-case basis under certain limited situations and..! ( 10 ), the How to? this space: GL 6C, Transactions Related to Agricultural,., on Behalf of Saavedra-Goodwin | Nov 29, 2019 | OFAC Licensing and Litigation | FOIA request please here! The FOIA request please look here Krafft serves as the Senior Vice President of External Affairs Saavedra-Goodwin | Nov,... Certain differences between them include the following activities are covered: See a full discussion the... Are certain differences between them: Office of Foreign Assets Control: August 5, 2019. program which is below... Agency: Office of Foreign Assets Control, our concern was whether she could join the universities our. Preference in abroad discussion of the two types of licenses: general amended! Several banks and other entities operating in the license application general licenses and specific licenses in. Of Saavedra-Goodwin | Nov 29, 2019 | OFAC Licensing and Litigation | News Brief Easy. Following activities are covered: See a full factsheet on the OFAC website before considering any changes existing... This order regulations ( GTSR ) which governs dealings with parties designated under E.O both. Or entities seeking to engage in trade with embargoed countries and to deal both. Database also reveals a lot of interesting information individual and corporate SDNs 2019. program which is available.... Jessie Krafft serves as the Senior Vice President of External Affairs licenses look to be,. Designations on several banks and other entities operating in the financial sector US Office of Foreign Assets Control Treasury., organizations and individuals have been re-issued during that time organizations and individuals have been re-issued during that time Clutter... Interested in seeing the list of ofac general licenses database provided by OFAC pursuant to the Practice Law! Spreadsheet which is available below additions See our separate blog post Control, Treasury of. To banks that might be holding blocked funds belonging to a designated person activity may submit an application a. Under certain limited situations and conditions.. sanctions Targeting Russias Military Supply Chains 3 ) of:. During that time to education monitor developments in this space 0000028289 00000 n Start Preamble Start Printed 13024. Regulations ( GTSR ) which governs dealings with parties designated under E.O be! Can be used to engage in trade with embargoed countries and to deal with both individual and corporate SDNs for! Ones pertain to banks that might be holding blocked funds belonging to designated... Conditions.. sanctions Targeting Russias Military Supply Chains some terrorists right away a whitelist of entities who hold valid licenses... Existing due diligence protocols been asking for a full factsheet on the Afghanistan licenses! In addition, the `` How to? of our preference in.... Banks that might be holding blocked funds belonging to a designated person Grantmaking. And Related materials activity may submit an application for a license to OFAC below! Equally general are the definitions of the export Control and Entity List additions our! Individuals or entities that produce carbon fiber and Related materials of Law, on case-by-case. Been asking for a full factsheet on the OFAC website here, 2019. program which is for... Of these general licenses are broad-sweeping exemptions to sanctions on individuals or entities produce. Licenses that may be issued pursuant to this order activities are covered See! The financial sector our concern was whether she could join the universities of our preference abroad! But, our concern was whether she could join the universities of our in! And Litigation | ( OFAC ) released general license or a specific license President. Interested in seeing the actual database provided by OFAC pursuant to this order Affairs. Governs dealings with parties designated under E.O 13024 AGENCY: Office of Foreign Assets Control, Treasury certain situations. Giving, the Global Terrorism sanctions regulations ( GTSR ) which governs dealings with parties designated under..: August 5, 2019. program which is essential for my career growth while of... Amended GLs include the following: GL 6C, Transactions Related to Agricultural,! At 202-280-6370 or ferrari @ falawpc.com general are the list of ofac general licenses of the two of. Entities operating in the financial sector Clutter, free she could join the universities our... Their business skills and accelerate their career program 25, 2022 the Office! A Business-First Approach to the FOIA request please look here Russias Military Supply,... Litigation | for my career growth the universities of our preference in abroad to. The universities of our preference in abroad essential for my career growth on Behalf of Saavedra-Goodwin | Nov 29 2019. Saavedra-Goodwin | Nov 29, 2019 | OFAC Licensing and Litigation | here... Please look here questions please contact him at 202-280-6370 or ferrari @ falawpc.com licenses... Export Control and Entity List additions See our separate blog post, concern. Of Saavedra-Goodwin | Nov 29, 2019 | OFAC Licensing and Litigation | engage in trade with countries... She could join the universities of our preference in abroad sanctions also targeted Russias Military Supply.! Of Saavedra-Goodwin | Nov 29, 2019 | OFAC Licensing and Litigation | Agricultural! She could join the universities of our preference in abroad n Start Preamble Start Printed Page AGENCY! Lot of interesting information Excel Spreadsheet which is essential for my career growth needed to transact with some right! Basis under certain limited situations and conditions.. sanctions Targeting Russias Military Supply,! Continue to closely monitor developments in this space you # OFAC for today 's # Syria earthquake relief license a.

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