On January 10, 2025, OFAC issued amended General License (GL) 8L to authorize the wind-down of transactions related to energy involving certain Russian financial institutions sanctioned pursuant to E.O. 14024 through 12:01 a.m. eastern daylight time, March 12, 2025. GLs 6D, 7A, 8L, or 115A do not authorize a U.S. financial institution to maintain (or open) a correspondent account or payable-through account for or on behalf of entities subject to the prohibitions of Directive 2 under E.O. 14024, “Prohibitions Related to Correspondent or Payable-Through Accounts and Processing of Transactions Involving Certain Foreign Financial Institutions” (Russia-related CAPTA Directive). Consequently, in order for a U.S. financial institution to engage in transactions authorized under these GLs (e.g., a funds transfer related to energy), all such funds transfers must be processed indirectly through a non-sanctioned, non-U.S. financial institution.
Examples of authorized and prohibited funds transfers under GLs 6D, 7A, 8L, and 115A include:
Payment from third-country originator
Authorized payment from third-country originator to beneficiary with an account at a sanctioned institution:
Prohibited payment from third-country originator to beneficiary with an account at a sanctioned institution: 
Payment from U.S. originator
Authorized payment from U.S. originator to beneficiary with an account at a sanctioned institution:
Prohibited payment from U.S. originator to beneficiary with an account at a sanctioned institution: 
In each of the above examples, the underlying funds transfer must be authorized under the applicable GL.
Updated: January 10, 2025