Frequently Asked Questions

… neither the originator nor the beneficiary is a person subject to U.S. jurisdiction (“U-turn general license”). As a result, transactions related to third-country commerce involving Cuba or … the beneficiary is a person subject to U.S. jurisdiction. For more information on the “U… Read more

… in Cuba and in third countries, and at foreign banks located in Cuba, but Cuban banks are not generally licensed to open such accounts at U.S. banks. See note to 31 CFR § 515.584(a) . … in Cuba and in third countries, and at foreign banks located in Cuba, but Cuban banks are not… Read more

… United States' support and solidarity for the Cuban people, OFAC would implement a favorable licensing policy toward specific license applications seeking authorization for the resale of Venezuelan-origin oil for use in … requested transactions would need to… Read more

… necessary to the wind down of activities that had been authorized under the now-revoked Iran General License H. To the extent a U.S.-owned or -controlled foreign entity or a U.S. person is … pursuant to section 560.537 of the ITSR, those activities should be completed prior to… Read more

… broker or dealer in securities and not by any other U.S. person. The personal remittances general license does not permit a U.S. person to deal directly with money service businesses (MSBs) or hawalas, wherever located. However, this general license does not… Read more

… of the Government of Venezuela, OFAC has issued amendments to current Venezuela-related general licenses and issued new general licenses to ensure that U.S. persons may continue to engage in and facilitate … of Humanitarian Assistance and Support to the… Read more

… When Directive 4 was implemented on September 12, 2014, OFAC contemporaneously issued General License 2 , which authorized for 14 days all services and activities prohibited by Directive 4 … involving persons determined to be subject to Directive 4. In order to qualify under this… Read more

… time, May 25, 2022, and provided the other terms and conditions of GL 15L are met.  As a general matter, GL 15L also would authorize U.S. persons to receive accelerated payments or … Does General License (GL) 15L authorize U.S. persons to receive regularly… Read more

… effecting the payment of taxes, fees, or import duties, or the purchase or receipt of permits, licenses, or public utility services, provided that such payments do not relate to luxury items … Does Afghanistan-related General License (GL) 20 authorize financial… Read more

… description of BIS’s regulatory requirements, see BIS’s Cuba webpage . While 31 CFR § 515.572 generally authorizes the provision of carrier services, OFAC amended its regulations effective … 2019 to highlight the separate BIS requirements. For a complete description of what the… Read more