On May 5, 2023, the US Department of the Treasury’s Office of Foreign Assets Controls (“OFAC”) reissued Russia-related General License 8G, “Authorizing Transactions Related to Energy.” The scope of the General License did not change since the previous reissuance; however, transactions “related to energy” with the list of entities listed in the General License are now authorized through 12:01 a.m. eastern time, November 1, 2023 (instead of expiring on May 16, 2023). General License 8D authorizes transactions “related…
On May 2, 2023, for the second time this year, the US and Turkish governments took joint action in imposing sanctions. Specifically, the United States and Türkiye imposed sanctions against two individuals determined to be financial facilitators of Syria-based terrorist groups Hay’at Tahrir al-Sham (“HTS”) and Katibat al-Tawhid wal-Jihad (“KTJ”), both of which are sanctioned by the United States and the United Nations. This follows a prior joint action in January targeting parties associated with…
On March 24, 2023, the US Treasury Department’s Office of Foreign Assets Control (“OFAC”) issued a final rule amending and reissuing the Belarus Sanctions Regulations, 31 CFR part 548 (the “Regulations”), to implement Executive Order (“EO”) 14038, including Directive 1 issued pursuant to EO 14038. The final rule is effective as of March 27, 2023. OFAC had previously sanctioned certain Belarussian parties as a result of Belarus’ support for and facilitation of Russia’s invasion of…
On February 21, 2023, the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued OFAC Compliance Communique: Guidance on Authorized Transactions Related to Earthquake Relief Efforts in Syria (“Guidance”). The Guidance responds to specific questions OFAC received related to earthquake relief efforts in Syria and explains how to provide humanitarian assistance to the Syrian people in compliance with US sanctions. The Guidance follows Syria General License 23, issued by OFAC on February…