Frequently Asked Questions

1266. What activities does Venezuela General License (GL) 61 authorize?

… processing payments and arranging shipping, including air freight, logistics, warehousing, insurance, and delivery services; interconnection and roaming agreements; capacity or … processing payments and arranging shipping, including air freight, logistics, warehousing, … Read more

1151. How does OFAC intend to interpret the following terms in Executive Order (E.O.) 14024, as amended by E.O. 14114: “foreign financial institution,” “Russia’s military-industrial base,” and “significant transaction or transactions”?

… savings banks, money services businesses, operators of credit card systems, trust companies, insurance companies, securities brokers and dealers, futures and options brokers and dealers, … savings banks, money services businesses, operators of credit card systems, trust companies… Read more

1225. What activities do Russia-related General License 128D and General License 131K authorize related to Lukoil International GmbH (LIG)?

… may involve (but are not limited to): supply of motor fuel and lubricants; lease payments; insurance payments; property maintenance and environmental services; employee payroll, benefits, … may involve (but are not limited to): supply of motor fuel and lubricants; lease payments… Read more

831. How will OFAC define the sectors of the Iranian economy specified in Executive Order (E.O.) 13902 of January 10, 2020?

… asset managers, employee benefit plans, dealers in precious metals, stones, or jewels, and insurance companies, or any persons that are engaged in the business of accepting deposits, … asset managers, employee benefit plans, dealers in precious metals, stones, or jewels, and… Read more

174. What are definitions for the following NDAA terms: “significant financial transaction,” “knowingly,” “owned or controlled by the government of a foreign country,” “food, medicine, and medical devices,” “foreign financial institution,” “Iranian financial institution,” “significantly reduced,” and “whether the price and supply of petroleum and petroleum products produced in countries other than Iran is sufficient”?

… to depository institutions, banks, savings banks, money service businesses, trust companies, insurance companies, securities brokers and dealers, commodity futures and options brokers and … to depository institutions, banks, savings banks, money service businesses, trust… Read more

5. When screening for sanctions, how do I determine if I have a valid match to a name on one of OFAC's lists?

… be placed into a qualifying, segregated, interest-bearing account located at a federally insured financial institution in the United States, from which only OFAC-authorized debits may be … be placed into a qualifying, segregated, interest-bearing account located at a federally… Read more

1126. Under Executive Order (E.O.) 14024, "Blocking Property With Respect To Specified Harmful Foreign Activities of the Government of the Russian Federation," any person determined to operate or have operated in certain sectors of the Russian Federation economy may be blocked. How is OFAC defining those sectors?

… payday lenders, mortgage companies, securities exchanges, securities dealers, asset managers, insurance companies, other financial institutions, and any persons in the business of accepting … payday lenders, mortgage companies, securities exchanges, securities dealers, asset… Read more

Frequently Asked Questions

Office of Terrorism and Financial Intelligence