Frequently Asked Questions

1224. What negotiations does Russia-related General License 131I authorize, and what transaction conditions will OFAC consider when evaluating requests for further authorization to effectuate a sale of Lukoil International GmbH (LIG) assets?

On October 22, 2025, OFAC designated Public Joint-Stock Company Oil Company Lukoil (Lukoil) to increase pressure on Russia's energy sector and degrade Russia's ability to raise revenue for its war machine. OFAC is aware of potential efforts by Lukoil to divest its assets outside of Russia to non-… Read more

1265. On August 20, 2026, the Department of State designated the Ministry of Construction of Cuba (MICONS) pursuant to E.O. 14404. Are foreign persons, including foreign financial institutions (FFIs), subject to sanctions risk for transacting with MICONS?

The U.S. government does not intend to target foreign persons, including FFIs, pursuant to E.O. 14404 for engaging in transactions ordinarily incident and necessary to the wind down of transactions involving MICONS, or any entity in which MICONS owns, directly or indirectly, a 50 percent or greater… Read more

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

GL 61 authorizes transactions ordinarily incident and necessary to the provision from the United States or by a U.S. person of goods, technology, software, or services for the installation, maintenance, refurbishment, repair, upgrade, operation, or support of telecommunications in Venezuela,… Read more

1220. How does Executive Order (E.O.) 14312, “Providing for the Revocation of Syria Sanctions,” affect OFAC’s Syria Sanctions Program?

E.O. 14312 removes sanctions on Syria, effective July 1, 2025, while maintaining sanctions on Bashar al-Assad and certain other destabilizing regional actors. Specifically, the E.O. revokes the following six E.O.s that form the foundation of the Syrian Sanctions Program and terminates the national… Read more

1221. Can U.S. financial institutions establish relationships with Syrian financial institutions, including the Central Bank of Syria?

Yes. All Syrian financial institutions, including the Central Bank of Syria, were removed from OFAC's List of Specially Designated Nationals and Blocked Persons (SDN List) on June 30, 2025. Effective July 1, 2025, U.S. persons are not prohibited from providing financial services to Syria,… Read more

1222. Do I need a specific license from OFAC to export or reexport food or medicine to Syria?

No. The United States no longer maintains comprehensive sanctions on Syria, effective July 1, 2025, following the issuance of E.O. 14312 . You may send U.S.-origin food or medicine to Syria without a specific license from OFAC. The Department of Commerce maintains jurisdiction over the export of… Read more

1244. How will OFAC assess specific license applications to perform any contingent contracts that are executed pursuant to Venezuela General License (GL) 49?

Specific license applications to perform any contingent contracts executed pursuant to GL 49 will be assessed on a case-by-case basis consistent with U.S. foreign policy and national security priorities. Recent Venezuela-related general licenses issued by OFAC have included various limitations in… Read more

1233. Are all entities engaged in a transaction authorized by Venezuela General License (GL) 46 required to have contracts with the dispute resolution requirement included in paragraph (a)(1)?

No. The dispute resolution requirement in paragraph (a)(1) of GL 46 applies only to contracts governing transactions undertaken by an established U.S. entity when the contract is with the Government of Venezuela (GOV), Petróleos de Venezuela, S.A. (PdVSA), or any entity in which PdVSA owns,… Read more

Frequently Asked Questions

Office of Terrorism and Financial Intelligence