1012. Do I have to wind down energy-related transactions by the expiration date of Russia-related General License (GL) 8L?

On January 10, 2025, the Office of Foreign Assets Control (OFAC) amended GL 8L to authorize the wind-down of energy-related transactions through 12:01 a.m. eastern daylight time, March 12, 2025. OFAC issued GL 115A to authorize transactions related to civil nuclear energy involving certain sanctioned Russian financial institutions, including those listed in GL 8L.

Updated: January 10, 2025