U.S. determination targeting Russian metals and mining sector

Actions taken in coordination with the G7

Actions taken in coordination with the G7

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) today issued a new determination [PDF 155 KB] targeting the metals and mining sector of the Russian economy under Executive Order 14024.

OFAC today also issued Russia-related:

  • General License 8F [PDF 161 KB]—Authorizing transactions related to energy
  • General License 13D [PDF 104 KB]—Authorizing certain administrative transactions prohibited by Directive 4 under Executive Order 14024
  • General License 60 [PDF 161 KB]—Authorizing the wind down and rejection of transactions involving certain entities blocked on February 24, 2023
  • General License 61 [PDF 161 KB]—Authorizing transactions related to debt or equity of, or derivative contracts involving, certain entities blocked on February 24, 2023
  • Five associated “frequently asked questions” (FAQs) (1114-1118)

A related Treasury release notes that today’s actions were taken in coordination with the G7.

For more information, contact a professional with KPMG Trade & Customs services:

Doug Zuvich
Partner and Global Practice Leader
E: dzuvich@kpmg.com

John L. McLoughlin
Principal and East Coast Leader
E: jlmcloughlin@kpmg.com

Andy Siciliano
Partner and National Practice Leader
E: asiciliano@kpmg.com

Steve Brotherton
Principal and Global Export and Sanctions Leader
E: sbrotherton@kpmg.com

Luis (Lou) Abad
Principal, Washington National Tax
E: labad@kpmg.com

Irina Vaysfeld
E: ivaysfeld@kpmg.com

Amie Ahanchian
E: aahanchian@kpmg.com

Christopher Young
E: christopheryoung@kpmg.com

Gisele Belotto
E: gbelotto@kpmg.com

George Zaharatos
E: gzaharatos@kpmg.com

Andy Doornaert
Managing Director
E: adoornaert@kpmg.com

Jessica Libby
E: jlibby@kpmg.com
John Anderson
Managing Director
E: johneanderson@kpmg.com
Jenna Leigh Glass
Managing Director
E: jennaleighglass@kpmg.com

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