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U.S. OFAC issues Russia-related general licenses, FAQs, and designations

General licenses, new and amended frequently asked questions

February 23, 2024

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today released the following Russia-related documents.

Russia-related general licenses 

  • General License 88 [PDF 100 KB]—“Authorizing the Wind Down of Transactions Involving Certain Entities Blocked on February 23, 2024”
  • General License 88A [PDF 100 KB]—"Authorizing the Wind Down of Transactions Involving Certain Entities Blocked on February 23, 2024”
  • General License 89 [PDF 100 KB]—“Authorizing the Wind Down and Rejection of Transactions Involving Certain Financial Institutions Blocked on February 23, 2024”
  • General License 90 [PDF 223 KB]—“Authorizing Certain Transactions Related to Debt or Equity of, or Derivative Contracts Involving, Certain Entities Blocked on April 8, 2024”
  • General License 91 [PDF 153 KB]—“Authorizing Limited Safety and Environmental Transactions Involving Certain Blocked Persons or Vessels”
  • General License 91A [PDF 154 KB]—“Authorizing Limited Safety and Environmental Transactions Involving Certain Blocked Persons or Vessels”
  • General License 92 [PDF 173 KB]—“Authorizing the Offloading of Cargo from Sovcomflot Vessels”
  • General License 93 [PDF 148 KB]—“Authorizing Transactions Involving Certain Sovcomflot Vessels”

Russia-related “frequently asked questions”

Russia-related designations

OFAC also made updates to its specially designated nationals (SDN) list and sectoral sanctions identifications (SSI) list. 

Read today’s releases:

    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
    Principal
    E: ivaysfeld@kpmg.com
    Amie Ahanchian
    Principal
    E: aahanchian@kpmg.com    		Christopher Young
    Principal
    E: christopheryoung@kpmg.com
    Gisele Belotto
    Principal
    E: gbelotto@kpmg.com    		George Zaharatos
    Principal
    E: gzaharatos@kpmg.com
    Andy Doornaert
    Managing Director
    E: adoornaert@kpmg.com    		Jessica Libby
    Principal
    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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