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.
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.