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OFAC News

Russia-related Designations; Issuance of Amended Russia-related Directive 4, Russia-related General Licenses; Publication of Russia-related Determinations; and New and Amended Frequently Asked Questions

The Department of the Treasury’s Office of Foreign Assets Control (OFAC) is issuing Russia-related General License 13E, “Authorizing Certain Administrative Transactions Prohibited by Directive 4 under Executive Order 14024;” General License 66, “Authorizing the Wind Down of Transactions Involving Public Joint Stock Company Polyus;” General License 67, “Authorizing Certain Transactions Related to Debt or Equity of, or Derivative Contracts Involving, Public Joint Stock Company Polyus;” and General License 68, “Authorizing the Wind Down of Transactions Involving Certain Universities and Institutes.” OFAC is also issuing Russia-related Directive 4 under Executive Order (E.O.) 14024, as amended, and updating Frequently Asked Questions (FAQs) 998-1002, 1004-1005, and 1118 to reflect the amendment. Russia-related Directive 4, as amended imposes an additional reporting requirement on U.S. persons to identify assets of entities subject to Russia-related Directive 4, as amended, which U.S. persons may hold. U.S. persons must submit a report to OFACreport@treasury.gov on or before June 18, 2023, and annually thereafter, on property in their possession or control with an interest, direct or indirect of an entity subject to Russia-related Directive 4, as amended (see FAQ 998). Note that existing licenses or authorizations issued by OFAC pursuant to the prior version of Russia-related Directive 4 remain in effect. Furthermore, OFAC is publishing a Determination Pursuant to Section 1(a)(i) of E.O. 14024 and a Determination Pursuant to Section 1(a)(ii) of E.O. 14071. OFAC is publishing three associated FAQs and removing FAQs 964, 1037, and 1085, which were incorporated into new FAQs 1126-1128. These changes consolidate OFAC’s general guidance pertaining to Russia-related sector and service determinations. OFAC is also amending FAQs 1059 and 1061-1062. In addition, OFAC is issuing one new FAQ related to a designated person (1129). Finally, OFAC has updated the following lists:

Settlement Agreements between the U.S. Department of the Treasury's Office of Foreign Assets Control; Murad, LLC, and an Individual

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) today announced a $3,334,286 settlement with Murad, LLC ("Murad"), and a $175,000 settlement with a natural U.S. person ("U.S. Person-1"). Murad agreed to settle its potential civil liability for one apparent violation of OFAC sanctions on Iran arising from an apparent conspiracy to export goods from the United States to Iran between 2009 and 2018. OFAC determined that Murad's apparent violation was egregious, and voluntarily self-disclosed. U.S. Person-1 separately agreed to settle their potential civil liability for three apparent violations of OFAC's Iran sanctions that occurred between 2016 and 2017 when U.S. Person-1 appears to have caused Murad to export or reexport consumer goods to Iran and engaged in dealings related to the export or reexport of goods to Iran. OFAC determined that U.S. Person-1's apparent violations were egregious, and not voluntarily self-disclosed. For more information, please visit the following web notice, and settlement agreement.

Publication of South Sudan Sanctions Regulations

The Department of the Treasury's Office of Foreign Assets Control (OFAC) is amending the South Sudan Sanctions Regulations and reissuing them in their entirety. This regulatory amendment is currently available for public inspection with the Federal Register and will take effect upon publication in the Federal Register on May 18, 2023.

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