Frequently Asked Questions

519. How can I help the Venezuelan people while making sure to abide by the U.S. sanctions?

… clothing, and medicine intended to be used to relieve human suffering. OFAC has also issued General License 4C to authorize further transactions ordinarily incident and necessary to the … 4C for details and relevant definitions. In addition, OFAC maintains several complementary… Read more

372. Do Directives 1, 2, and 3 prohibit U.S. persons from entering into derivatives contracts linked to new debt or new equity issued by the entities subject to the Directives?

… On November 28, 2017, OFAC issued General License 1B , which continues to authorize certain transactions involving derivative products that would otherwise be prohibited pursuant to Directives 1, 2, or 3. General License 1B replaced and superseded General… Read more

4. Are there exceptions to sanctions prohibitions? Are exceptions the same across sanctions programs?

… exceptions to sanctions prohibitions. Exceptions may take the form of authorizations, such as general licenses and specific licenses, or exemptions. OFAC issues general licenses in most of its … exceptions to sanctions prohibitions. Exceptions… Read more

569. A U.S. company had ordered goods from an entity that was designated under E.O. 13661 or E.O. 13662, or blocked pursuant to OFAC’s 50 percent rule on April 6, 2018 as a result of such a designation. May the U.S. company still accept the goods?

… that the importation is in accordance with the requirements and limitations specified in General License 12A . For the limited period of time specified in the general license, General License 12A authorizes all transactions ordinarily incident… Read more

761. Can U.S. trade delegations travel to Cuba?

… to travel to Cuba only if each member of the delegation meets the criteria of an applicable general license authorizing travel to Cuba or has obtained a specific license from OFAC. Authorized trade delegations generally fall under one of two… 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?

… entities, except as necessary to export or import items to or from North Korea that are licensed or otherwise authorized pursuant to the NKSR or pursuant to the Export Administration … such as city governments and hospitals, to provide food and medical devices. However, this… Read more

1081. Am I required to show official documentation that I’ve closed my account at a Russian financial institution blocked pursuant to Executive Order (E.O.) 14024 in order to take advantage of Russia-related General License (GL) 50?

… blocked pursuant to Executive Order (E.O.) 14024 in order to take advantage of Russia-related General License (GL) 50? … blocked pursuant to Executive Order (E.O.) 14024 in order to take advantage of Russia-related General License (GL) 50? …

547. Can U.S. Persons participate in meetings about restructuring outstanding Venezuelan and PDVSA debt?

… U.S. persons are generally prohibited from engaging in transactions or dealings with persons named on OFAC’s SDN … de Venezuela, S.A. (PdVSA) debt. Provided there is no SDN involvement, Venezuela-related General License 3 authorizes U.S. persons to engage in all… Read more

161. If all property and interests in property of the Government of Iran, including the Central Bank of Iran, and of all Iranian financial institutions are blocked, can I conduct transactions involving the Government of Iran that have been previously authorized by OFAC?

… Generally yes. Under new General License A, almost all transactions that are authorized under existing general licenses issued pursuant to the Iranian Transactions Regulations (ITR) or under existing … Generally yes. Under new… Read more

337. Are transactions that were previously authorized under 31 CFR § 560.540 of the Iranian Transactions and Sanctions Regulations (ITSR) prior to May 17, 2024 or General License (GL) D-2 still authorized under the revised 31 CFR § 560.540?

… 560.540 of the Iranian Transactions and Sanctions Regulations (ITSR) prior to May 17, 2024 or General License (GL) D-2 still authorized under the revised 31 CFR § 560.540? … 560.540 of the Iranian Transactions and Sanctions Regulations (ITSR) prior to May 17, 2024 or … Read more

Frequently Asked Questions

Office of Terrorism and Financial Intelligence