U.S. OFAC issues Russia-related general license
Authorizing certain administrative transactions prohibited by Directive 4 under Executive Order 14024
Authorizing certain administrative transactions prohibited by Directive 4 under Executive
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) today issued a Russia-related general license.
- General License 13C [PDF 107 KB]—Authorizing certain administrative transactions prohibited by Directive 4 under Executive Order 14024
Full text of the general license is provided below.
Authorizing Certain Administrative Transactions Prohibited by Directive 4 under Executive Order 14024
(a) Except as provided in paragraph (b) of this general license, U.S. persons, or entities owned or controlled, directly or indirectly, by a U.S. person, are authorized to pay taxes, fees, or import duties, and purchase or receive permits, licenses, registrations, or certifications, to the extent such transactions are prohibited by Directive 4 under Executive Order 14024, Prohibitions Related to Transactions Involving the Central Bank of the Russian Federation, the National Wealth Fund of the Russian Federation, and the Ministry of Finance of the Russian Federation, provided such transactions are ordinarily incident and necessary to the day-to-day operations in the Russian Federation of such U.S. persons or entities, through 12:01 a.m. eastern standard time, March 7, 2023.
(b) This general license does not authorize:
(1) Any debit to an account on the books of a U.S. financial institution of the Central Bank of the Russian Federation, the National Wealth Fund of the Russian Federation, or the Ministry of Finance of the Russian Federation; or
(2) Any transactions otherwise prohibited by the Russian Harmful Foreign Activities Sanctions Regulations, 31 CFR part 587 (RuHSR), including transactions involving any person blocked pursuant to the RuHSR, unless separately authorized.
(c) Effective November 21, 2022, General License No. 13B, dated September 8, 2022, is replaced and superseded in its entirety by this General License No. 13C.
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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