Frequently Asked Questions

978. For transactions authorized under Russia-related General Licenses (GL) 6D, 7A, or GL 115B what is an example of a permissible funds transfer involving a foreign financial institution sanctioned pursuant to Executive Order (E.O.) 14024?

978 … GLs 6D , 7A , or 115B 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… Read more

1017. Does Russia-related General License (GL) 8L remain valid following the issuance of Executive Order (E.O.) 14066, "Prohibiting Certain Imports and New Investments With Respect to Continued Russian Federation Efforts to Undermine the Sovereignty and Territorial Integrity of Ukraine"?

1017 … Yes. GL 8L , which authorizes the wind-down of energy related transactions involving specified Russian financial institutions, remains in effect until 12:01 a.m. eastern daylight time, March 12, 2025, unless renewed. However, GL 8L does not authorize any transactions prohibited by E.O. 14066… Read more

1160. What changes did the February 15, 2024 regulatory amendment to the North Korea Sanctions Regulations, 31 CFR part 510 (NKSR), make?

1160 … On February 15, 2024, OFAC, in consultation with the Department of State, amended the NKSR to modify an existing general license (GL) and add three new GLs to facilitate humanitarian-related and other activities in North Korea. These changes include: Additional non-governmental organization… Read more

1161. Does the general license for non-governmental organization (NGO) activities at section 510.512 of the North Korea Sanctions Regulations, 31 CFR part 510 (NKSR), authorize NGOs to engage in transactions involving the Government of North Korea?

1161 … Yes, subject to certain conditions and limitations. NGOs may engage in transactions with the Government of North Korea to the extent ordinarily incident and necessary to the activities authorized by § 510.512(a). Such transactions may not include partnerships and partnership agreements… Read more

1162. What must a non-governmental organization (NGO) do before relying on the general license (GL) at § 510.512 of the North Korea Sanctions Regulations, 31 CFR part 510 (NKSR)?

1162 … To be eligible for the NGO GL, an NGO must first submit a report to the U.S. Department of State via email to DPRK-NGO-GL-Notification-DL@state.gov no fewer than 30 days before the commencement of their activities, with one of the following: (1) a copy of approval by the UN Security Council… Read more

1163. Can I export tobacco or other luxury goods to North Korea?

1163 … No. The general license for the exportation or reexportation of certain agricultural and medical items at § 510.521 of the North Korea Sanctions Regulations, 31 CFR part 510, does not authorize the exportation or reexportation to North Korea of luxury goods, including tobacco, as set forth… Read more

1165. What does the determination “Prohibitions Related to Imports of Certain Categories of Diamonds” pursuant to Executive Order (E.O.) 14068 (the “Diamonds Determination”), prohibit?

1165 … The Diamonds Determination prohibits the importation and entry into the United States of two categories of diamonds, effective on the dates indicated below. Effective March 01, 2024, the Diamonds Determination prohibits the importation of non-industrial diamonds that were mined, extracted,… Read more

1166. What does the determination “Prohibitions Related to Imports of Diamond Jewelry and Unsorted Diamonds of Russian Federation Origin and Diamond Jewelry and Unsorted Diamonds Exported From the Russian Federation” pursuant to Executive Order (E.O.) 14068 (the “Diamond Jewelry and Unsorted Diamonds Determination”), prohibit?

1166 … The Diamond Jewelry and Unsorted Diamonds Determination prohibits the importation and entry into the United States of diamond jewelry and unsorted diamonds of Russian Federation origin, as well as diamond jewelry and unsorted diamonds that were exported from the Russian Federation. For… Read more

1167. How does Venezuela General License (GL) 45B differ from Venezuela GL 45A?

1167 … On February 29, 2024, OFAC issued Venezuela GL 45B , “Authorizing Certain Repatriation Transactions Involving Consorcio Venezolano de Industrias Aeronáuticas y Servicios Aéreos, S.A.,” which narrowed the scope of transactions previously authorized by GL 45A. GL 45B no longer authorizes… Read more

1169. What is prohibited by the determination “Prohibitions on Certain Services for the Acquisition of Aluminum, Copper, or Nickel of Russian Federation Origin” pursuant to Executive Order (E.O.) 14071 (the “Metals Services Determination”)?

1169 … The Metals Services Determination prohibits the exportation, reexportation, sale, or supply, directly or indirectly, from the United States, or by a United States person, wherever located, of the following categories of services to any person located in the Russian Federation: warranting… Read more

Frequently Asked Questions

Office of Terrorism and Financial Intelligence