Frequently Asked Questions

1119. Does General License (GL) O authorize all wind-down transactions for any vessel that was blocked on March 2, 2023? What if the vessel contains Iranian-origin merchandise?

… regardless of the situation, is not authorized pursuant to Iran GL O and requires a specific license from OFAC. U.S. financial institutions may also process transactions conducted by … Does General License (GL) O authorize all wind-down transactions for any… Read more

1120. Do non-U.S. persons risk exposure to U.S. sanctions for engaging in transactions that U.S. persons would be authorized to engage in under Iran General License (GL) O?

… No. Non-U.S. persons generally do not risk exposure to sanctions for engaging in activities or facilitating … for engaging in transactions that U.S. persons would be authorized to engage in under Iran General License (GL) O? … No. Non-U.S. persons … Read more

1228. Does Venezuela General License (GL) 46, "Authorizing Certain Activities Involving Venezuelan-Origin Oil," authorize exploration activity or negotiations for new investment activities?

… Does Venezuela General License (GL) 46, "Authorizing Certain Activities Involving Venezuelan-Origin Oil," … Does Venezuela General License (GL) 46, "Authorizing Certain Activities Involving Venezuelan-Origin Oil," … Read more

661. What does General License 9H authorize with respect to Petróleos de Venezuela, S.A. (PdVSA) debt and equity and what are the implications for U.S. and non-U.S. persons?

… General License (GL) 9H authorizes U.S. persons to engage in all transactions prohibited by … What does General License 9H authorize with respect to Petróleos de Venezuela, S.A. (PdVSA) debt and equity … General License (GL) 9H authorizes U.S.… Read more

1203. What does General License (GL) 115D ("Authorizing Certain Transactions Related to Civil Nuclear Energy") authorize with respect to civil nuclear energy-related payments?

… GL 115D generally authorizes certain transactions related to civil nuclear energy involving certain … development of new civil nuclear energy power plants after November 21, 2024. Non-U.S. persons generally do not risk exposure to U.S. sanctions for engaging in… Read more

706. What constitutes generally authorized travel under the travel-related category of “public performances, clinics, workshops, athletic and other competitions, and exhibitions” ?

… Section 515.567(a) of the CACR contains a general license that authorizes, subject to conditions, travel-related transactions and other … and exhibitions previously found at § 515.567(b). OFAC will consider issuing specific licenses, on a case-by-case basis, for… Read more

7. If I want to engage in a transaction or activity prohibited by OFAC, how can I do so? Can I rely on a general or specific license to engage in a transaction involving a sanctioned jurisdiction or person?

… OFAC issues general licenses to authorize certain transactions that would otherwise be prohibited pursuant to … involving the United States or U.S. persons without needing to apply for a specific license, provided the transactions meet certain terms and… Read more

664. Can U.S. financial institutions process transactions and maintain correspondent accounts in connection with activities authorized under Venezuela General Licenses 4A, 15, 16, 17, and 18?

… y Comunas, Banco Universal C.A. (Banco Bicentenario del Pueblo) for purposes of Venezuela General Licenses 4A, 15, 16, and 17, Banco Prodem S.A. for purposes of General License 17, and Integracion Administradora de Fondos de Ahorro Previsional, S.A. for … and… Read more

914. Do non-U.S. persons risk exposure to U.S. sanctions for engaging in transactions and activities that would be authorized for U.S. persons pursuant to Venezuela General License (GL) 40C?

… in transactions and activities that would be authorized for U.S. persons pursuant to Venezuela General License (GL) 40C? … in transactions and activities that would be authorized for U.S. persons pursuant to Venezuela General License (GL) 40C? …

939. What does Belarus General License 5 (GL 5), “Authorizing the Wind Down of Transactions Involving Open Joint Stock Company Belarusian Potash Company or Agrorozkvit LLC,” authorize?

… What does Belarus General License 5 (GL 5), “Authorizing the Wind Down of Transactions Involving Open Joint Stock … What does Belarus General License 5 (GL 5), “Authorizing the Wind Down of Transactions Involving Open Joint Stock …

Frequently Asked Questions

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