Frequently Asked Questions

1106. Are financial institutions permitted to provide banking services, including processing funds transfers, related to activities authorized under the four categories of the general licenses (GLs) outlined in FAQ 1105? What are OFAC’s diligence expectations of financial institutions seeking to engage in such activities?

1106 … U.S. financial institutions may operate accounts, including processing funds transfers, for persons engaging in activities authorized by the GLs related to: (i) the official business of the U.S. government, (ii) official business of certain international organizations and entities, (iii)… Read more

646. How do I block digital currency?

646 … Once a U.S. person determines that they hold virtual currency that is required to be blocked pursuant to OFAC's regulations, the U.S. person must deny all parties access to that virtual currency, ensure that they comply with OFAC regulations related to the holding and reporting of blocked… Read more

165. To what extent are U.S. persons expected to conduct enhanced due diligence to determine if transactions contain a Government of Iran interest?

165 … E.O. 13599 requires U.S. persons to block all property and interests in property of the Government of Iran, unless otherwise exempt or authorized by OFAC. Please contact the OFAC Hotline at 202-622-2490 or 1-800-540-6322, or by email at OFAC_Feedback@treasury.gov, for guidance regarding… Read more

814. I am currently in possession of artwork in which a Specially Designated Global Terrorist (SDGT) has an interest. What should I do?

814 … Once it has been determined that you or your institution is holding or is in possession of artwork that is the property of an SDGT or a person otherwise blocked pursuant to E.O. 13224, or in which such a person has an interest, you or your institution must ensure that access to that artwork… Read more

1158. On January 17, 2024, the Department of State (State) announced the designation of Ansarallah under Executive Order (E.O.) 13224, as amended, effective February 16, 2024. What will be the impact of this action? What steps are the U.S. government taking to ensure that commercial goods and humanitarian assistance continues to flow to the Yemeni people?

1158 … Following the designation of Ansarallah (commonly referred to as “the Houthis”) under E.O. 13224, as amended, on February 16, 2024, OFAC will add the group to the List of Specially Designated Nationals and Blocked Persons (SDN List) as a Specially Designated Global Terrorist. As a result of… Read more

1145. What if a governing institution in Afghanistan is led by an individual who has been blocked pursuant to the Global Magnitsky Sanctions Regulations?

1145 … Generally, the designation of an individual with a leadership role in a governing institution does not itself block the governing institution. Accordingly, engaging in a routine interaction with a governing institution in which a blocked individual is an official, but that does not directly… Read more

1212. Are international organizations and nongovernmental organizations authorized to conduct transitional justice activities in Syria?

1212 … Yes. Activities to support the rule of law, accountability, and transparency are broadly authorized under the Syrian Sanctions Regulations (SySR), the Global Terrorism Sanctions Regulations (GTSR), and the Foreign Terrorist Organizations Sanctions Regulations (FTOSR), including transactions… Read more

1208. Does Syria General License (GL) 24 ("Authorizing Transactions with Governing Institutions in Syria and Certain Transactions Related to Energy and Personal Remittances") authorize activities and transactions with a governing institution in Syria run by or led by a designated person?

1208 … Yes. GL 24 authorizes transactions with governing institutions in Syria, with some conditions and exceptions, through July 7, 2025, even if a designated individual has a leadership role in that governing institution. For example, if a company engaging in otherwise authorized activity needs… Read more

1213. For the purposes of the determination of January 10, 2025 made pursuant to Executive Order (E.O.) 14024 (the "January 2025 Energy Sector Determination"), what is meant by the term "energy sector of the Russian Federation economy"?

1213 … On January 10, 2025, the Secretary of the Treasury, in consultation with the Secretary of State, issued a determination pursuant to E.O. 14024 that authorizes the imposition of economic sanctions on any person determined to operate or have operated in the energy sector of the Russian… 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

Frequently Asked Questions

Office of Terrorism and Financial Intelligence