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U.S. OFAC issues Russia-related general licenses

The U.S. Department of the Treasury’s Office of Foreign Assets Control released a document announcing publication of recent Russia-related general licenses.

September 5, 2024

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today released a document announcing publication of the following Russia-related general licenses:

  • General License 103—"Authorizing Transactions Related to Imports of Certain Diamond Jewelry Prohibited by Executive Order 14068”
  • General License 104—"Authorizing Transactions Related to Imports of Certain Diamonds Prohibited by Executive Order 14068”
  • General License 105—“Authorizing Limited Safety and Environmental Transactions and the Unloading of Cargo Involving Certain Blocked Persons or Vessels”
  • General License 106—“Authorizing the Wind Down of Transactions Involving Certain Entities Blocked on August 23, 2024”
  • General License 107—“Authorizing Limited Safety and Environmental Transactions Involving Certain Blocked Persons or Vessels”

A license is an authorization from OFAC to engage in a transaction that otherwise would be prohibited. A general license authorizes a particular type of transaction for a class of persons without the need to apply for a license.

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
Jenna Leigh Glass
Managing Director
E: jennaleighglass@kpmg.com

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