U.S. guidance concerning Russia-related executive order

Russia-related general licenses, determinations, FAQs, and compliance advisory

Russia-related general licenses, determinations, FAQs, and compliance advisory

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) today released for publication in the Federal Register five* Russia-related general licenses (GLs) [PDF 108 KB]:

  • GL 83—"Authorizing certain transactions related to imports of certain categories of fish, seafood, and preparations thereof prohibited by Executive Order 14068”
  • GL 84—"Authorizing transactions related to closing a correspondent or payable-through account”
  • GL 85—“Authorizing the wind down of transactions and the closure of accounts involving Expobank Joint Stock Company”

The issuance of these GLs is pursuant to a Russia-related executive order “Taking additional steps with respect to the Russian Federation’s harmful activities” [PDF204 KB] issued in December 2023.

OFAC also in December 2023 issued related determinations, frequently asked questions (FAQs), and a compliance advisory. Read the OFAC release (December 22, 2023).

* GLs 81 and 82 were issued on December 20, 2023. Read TradeNewsFlash

For more information, contact a professional with KPMG’s 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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