The validity period of the general license authorizing certain payments with the Russian Central Bank and others has been extended. Specifically, on January 6, 2026, the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) reissued General License 13P (“GL 13P”), “Authorizing Certain Administrative Transactions Prohibited by Directive 4 under Executive Order 14024,” extending the validity period until 12:01 a.m. Eastern time on April 9, 2026. GL 13P authorizes US Persons to engage…
On December 15, 2025, the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) has issued Belarus General License 13 (“GL 13”), “Authorizing Transactions Involving Joint Stock Company Belarusian Potash Company, Agrorozkvit LLC, and Belaruskali OAO.” GL 13 authorizes all transactions involving the following entities that are otherwise prohibited by the Belarus Sanctions Regulations (“BSR”): GL 13 does not authorize the unblocking of any blocked property or any transactions involving any other blocked persons…
The US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) has amended two Russia-related General Licenses (“GLs”) – 55E and 115C – that authorize certain transactions related to crude oil originating from the Sakhalin-2 project and certain transactions with Russian entities related to civil nuclear energy. OFAC also updated several frequently asked questions (“FAQs”). Amended GLs 55E and 115C The amended GL 55E, “Authorizing Certain Services Related to Sakhalin-2,” authorizes, through 12:01 am…
On November 14, 2025, the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) amended two general licenses and issued two new general licenses (“GLs”)authorizing limited transactions involving Open Joint Stock Company Rosneft Oil Company (“Rosneft”) and Public Joint-Stock Company Oil Company Lukoil (“Lukoil”) and entities in which they respectively own, directly or indirectly, individually or in the aggregate, a 50 percent or greater interest (collectively “Rosneft and Lukoil Entities”). Rosneft and Lukoil…