U.S. final rule replacing Ukraine-related sanctions regulations
More comprehensive set of regulations that includes additional interpretive and definitional guidance
More comprehensive set of regulations that includes additional interpretive and definition
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today released for publication in the Federal Register a final rule changing the heading of the “Ukraine Related Sanctions Regulations” to the “Ukraine-/Russia-Related Sanctions Regulations.”
In addition, today’s final rule [PDF 485 KB] (94 pages) replaces the “Ukraine Related Sanctions Regulations” that were published in abbreviated form in May 2014 with a more comprehensive set of regulations that includes additional interpretive and definitional guidance, general licenses, and other regulatory provisions that provide further guidance.
Among other things, the regulatory amendment:
- Implements a December 2014 Ukraine-/Russia-related executive order and provisions of various U.S. legislation concerning Ukraine
- Incorporates four directives regarding sectoral sanctions issued pursuant to the Ukraine-/Russia-related executive order of March 2014; six general licenses that, until now, only appeared on OFAC’s website; and seven new general licenses
As noted in a related OFAC release, the publication of the final rule has triggered an automatic administrative update to a number of sanctions entries. The unique identifier numbers for the affected entries are listed as part of this administrative update.
For more information on sanctions and other responses to Russia’s war on Ukraine, visit KPMG’s dedicated website.
Contact a professional with KPMG’s Trade & Customs services:
John L. McLoughlin
Luis (Lou) Abad
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