Frequently Asked Questions

740. Can credit card network operators that are persons subject to U.S. jurisdiction process credit and debit card transactions for individuals traveling to, from, or within Cuba, and related settlements, for third-country financial institutions?

740 … Yes, credit card network operators that are persons subject to U.S. jurisdiction may process such transactions and related settlements for third-country financial institutions. Section 515.584 (c) of the CACR authorizes all transactions incident to the processing and payment of credit and… Read more

741. Can U.S. financial institutions, including their foreign branches and foreign-incorporated subsidiaries, permit the use of credit and debit cards they issue by, and process credit and debit card transactions for, third-country nationals whose travel to, from, or within Cuba may not fall within the 12 categories of authorized travel?

741 … Yes. Section 515.584(c) of the CACR authorizes all transactions incident to the processing and payment of credit and debit cards transactions for third-country nationals traveling to, from, or within Cuba. Any person subject to U.S. jurisdiction, including U.S. financial institutions and… Read more

456. What does Executive Order (E.O.) 13722 do?

456 … E.O. 13722 blocks the Government of North Korea and the Workers’ Party of Korea; prohibits the exportation and reexportation of goods, services (including financial services), and technology to North Korea; and prohibits new investment in North Korea. E.O. 13722 also adds new designation… Read more

457. Does Executive Order (E.O.) 13722 take into account United Nations Security Council Resolution (UNSCR) 2270 and domestic legislation?

457 … Yes. E.O. 13722 implements certain U.S. obligations under UNSCR 2270 and certain provisions of the North Korea Sanctions and Policy Enhancement Act of 2016. U.S. sanctions against North Korea are generally broader than UN sanctions. … Does Executive Order (E.O.) 13722 take into account United… Read more

458. Does the blocking of the Government of North Korea and the Workers’ Party of Korea impact the ability of U.S. persons to do business with or conduct transactions with entities in which either party has an interest?

458 … Yes. All property and interests in property of the Government of North Korea and the Workers’ Party of Korea are blocked. U.S. persons are generally prohibited from engaging in transactions with them without authorization from OFAC and must block property or interests in property that are in… Read more

459. What impact does the prohibition on the exportation or reexportation of goods, services, or technology under Executive Order (E.O.) 13722, as implemented in § 510.205 of the North Korea Sanctions Regulations, 31 CFR part 510 (NKSR), have on the regulations of the Department of Commerce’s Bureau of Industry and Security (BIS)?

459 … None. E.O. 13722 prohibits the exportation or reexportation, from the United States, or by a United States person, of any goods, services, or technology to North Korea, unless authorized or exempt. BIS maintains authority to license exports and reexports of items (i.e., commodities,… Read more

460. Can U.S. persons do business with entities in North Korea?

460 … No. Unless authorized pursuant to a general or specific license from OFAC and/or BIS, Executive Order (E.O.) 13722 prohibits new investment in North Korea by a U.S. person and the exportation or reexportation, from the United States, or by a U.S. person, of any goods, services, or technology… Read more

461. Has OFAC issued general licenses for the North Korea program?

461 … Yes. Several general licenses are incorporated into Subpart E of the North Korea Sanctions Regulations. See OFAC’s webpage on North Korea for any additional general licenses. … Has OFAC issued general licenses for the North Korea …

462. Can U.S. persons continue to send money to family or friends in North Korea?

462 … Yes. Section 510.511 of the North Korea Sanctions Regulations authorizes U.S. depository institutions (including banks), U.S.-registered brokers or dealers in securities, and U.S.-registered money transmitters to process non-commercial, personal remittances to or from North Korea, or for or… Read more

463. Can nongovernmental organizations (NGOs) provide assistance to North Korea? If so, what types of assistance can NGOs provide? Can NGOs conduct transactions with the Government of North Korea?

463 … Yes. Section 510.512(a) of the North Korea Sanctions Regulations, 31 CFR part 510 (NKSR), authorizes NGOs that have filed the report specified in § 510.512 to conduct transactions that are ordinarily incident and necessary to the following activities: activities to support humanitarian… Read more

Frequently Asked Questions

Office of Terrorism and Financial Intelligence