Frequently Asked Questions

1218. How is Treasury planning to implement the President’s February 26 announcement on energy-related authorizations in Venezuela?

1218 … Treasury is preparing to take action to wind-down General License 41 and other specific licenses as appropriate. We will issue additional guidance to assist implementation concurrent with any changes to the authorization(s). … How is Treasury planning to implement the President’s February 26… Read more

1219. On March 4, 2025, the Department of State (State) designated Ansarallah as a Foreign Terrorist Organization (FTO). What actions did OFAC take related to this announcement?

1219 … OFAC implemented State's designation of Ansarallah ("the Houthis") as an FTO by updating the existing Ansarallah entry on the Specially Designated Nationals and Blocked Persons List (SDN List). Ansarallah was already listed on the SDN List as a result of State's February 16, 2024 designation… Read more

621. What is the prohibition on U.S.-owned or -controlled foreign entities, and how does it work?

621 … Consistent with Section 218 of TRA , section 8 of E.O. 13846 continues in effect the sanctions previously contained in section 4 of E.O. 13628 and expands them to cover activity sanctionable under E.O. 13846 (see FAQ 601 ). This provision prohibits a U.S.-owned or -controlled foreign entity… Read more

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

1012 … 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… 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.… Read more

966. What actions did Treasury take in February 2022 related to Russia's financial services sector pursuant to Executive Order (E.O.) 14024?

966 … Treasury took expansive sanctions actions related to Russia's financial services sector in February 2022 as detailed below. Financial services sector determination . On February 22, 2022, the Secretary of the Treasury, in consultation with the Secretary of State, issued a determination… Read more

967. What does Directive 2 under Executive Order (E.O.) 14024, "Prohibitions Related to Correspondent or Payable-Through Accounts and Processing of Transactions Involving Certain Foreign Financial Institutions" (Russia-related CAPTA Directive) prohibit?

967 … The Russia-related CAPTA Directive prohibits U.S. financial institutions from: (i) the opening or maintaining of a correspondent account or payable-through account for or on behalf of foreign financial institutions determined to be subject to the prohibitions of the Russia-related CAPTA… Read more

1117. My company provides goods or services to, or engages in trade with, persons that operate or have operated in the metals and mining sector of the Russian Federation economy. Does my company risk being sanctioned by OFAC?

1117 … The determination made on February 24, 2023 pursuant to Executive Order (E.O.) 14024 authorizes sanctions on any person determined to operate or have operated in the metals and mining sector of the Russian Federation economy. Non-U.S. persons may also be exposed to sanctions for activities… Read more

1010. My company transports Russian oil for sale to the United States and third countries. Can I continue to transport or sell Russian-origin oil without violating sanctions pursuant to Executive Order (E.O.) 14024?

1010 … The energy sector of the Russian Federation economy itself is not subject to comprehensive sanctions. However, prohibitions or restrictions may apply to certain energy-related transactions under several sanctions authorities, including prohibitions issued pursuant to E.O. 13662 , E.O. 14024… Read more

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

Frequently Asked Questions

Office of Terrorism and Financial Intelligence