Frequently Asked Questions

1184. What action did Treasury take on June 12, 2024 with regards to prohibiting certain information technology (IT) and software-related services?

… scope of sanctions prohibitions under the International Emergency Economic Powers Act. See 50. U.S.C. § 1702(b)(3). In addition, the IT and Software Services Determination does not … scope of sanctions prohibitions under the International Emergency Economic Powers Act. See… Read more

1216. What action has Treasury taken with regard to the provision of petroleum services to Russia?

… in which Lukoil or Rosneft owns, directly or indirectly, individually or in the aggregate, a 50 percent or greater interest. Additionally, on December 17, 2025, OFAC issued GL 55E , which … in which Lukoil or Rosneft owns, directly or indirectly, individually or in the aggregate… Read more

1245. What activities are authorized by Venezuela General License (GL) 52, "Authorizing Certain Transactions Involving Petróleos de Venezuela, S.A."?

… de Venezuela, S.A. (PdVSA) and any entity in which PdVSA owns, directly or indirectly, a 50 percent or greater interest (collectively, "PdVSA Entities"), by established U.S. entities. … de Venezuela, S.A. (PdVSA) and any entity in which PdVSA owns, directly or… Read more

160. Section 1 of E.O. 13599 blocks all property and interests in property of the Government of Iran, including the Central Bank of Iran, and of all Iranian financial institutions, that are in the United States, that come within the United States, or that come within the possession or control of U.S. persons (including overseas branches). Can you provide further clarification about this provision of E.O. 13599?

… in property of that entity are blocked if the entity is owned, directly or indirectly, 50% or more by a person whose property and interests in property are blocked pursuant to an … in property of that entity are blocked if the entity is owned, directly or indirectly, 50… Read more

508. What do the prohibitions in Executive Order (E.O) .13808 mean? Are they blocking actions?

… the Government of Venezuela and any entity in which it owns, directly or indirectly, a 50 percent or greater interest, U.S. persons are prohibited from engaging in any activity or … the Government of Venezuela and any entity in which it owns, directly or indirectly, a 50… Read more

984. What does Directive 3 under Executive Order (E.O.) 14024, "Prohibitions Related to New Debt and Equity of Certain Russia-related Entities" (Russia-related Entities Directive) prohibit?

… relevant sanctions effective date. Please see FAQ 985 regarding the applicability of OFAC's 50 Percent Rule with respect to this directive. Entity Type Relevant Sanctions Effective Date … relevant sanctions effective date. Please see FAQ 985 regarding the applicability of… Read more

835. What does Global Magnitsky General License 2A authorize?

… down of transactions involving any entity in which the XPCC owns, directly or indirectly, a 50 percent or greater interest (Blocked XPCC Subsidiary), through 12:01 a.m. eastern standard … down of transactions involving any entity in which the XPCC owns, directly or indirectly, a… Read more

929. For the purposes of Afghanistan-related General License (GL) 14, what is "humanitarian assistance to Afghanistan" or "other activities that support basic human needs in Afghanistan"?

… or any entity in which the Taliban or the Haqqani Network owns, directly or indirectly, a 50 percent or greater interest, other than for the purpose of effecting the payment of taxes, … or any entity in which the Taliban or the Haqqani Network owns, directly or indirectly, a… Read more

981. What does General License (GL) 9A authorize with respect to the debt and equity of certain Russian financial institutions sanctioned pursuant to Executive Order (E.O.) 14024? What are the implications for U.S. and non-U.S. persons?

… Joint Stock Company Sberbank of Russia; VTB Bank Public Joint Stock Company; Any entity owned 50 percent or more, directly or indirectly, individually or in the aggregate, by one of the above … Joint Stock Company Sberbank of Russia; VTB Bank Public Joint Stock Company; Any… Read more

975. Is there a wind-down period for transactions involving the Russian financial institutions blocked in February 2022 pursuant to Executive Order (E.O.) 14024? What transactions are authorized during the wind-down period?

… these financial institutions own, directly or indirectly, individually or in the aggregate, a 50 percent or greater interest. GLs 3 and 11 authorize U.S. persons to engage in transactions … these financial institutions own, directly or indirectly, individually or in the… Read more

Frequently Asked Questions

Office of Terrorism and Financial Intelligence