These conditions were also present in similar regulations issued in recent years. December 23, 2021. For example, the U.S. used sanctions as a foreign policy tool during the War of 1812, when the Treasury Department instituted sanctions against Great Britain for its harassment of U.S. soldiers. 0000001176 00000 n
While not necessarily indicative of the considerations OFAC may weigh with respect to other types of applicants or sanctions programs, the TCRFSP Program guidance provides some insight into the types of considerations that OFAC and other federal agencies may weigh during the review process. Educational programs for all ages are offered through e learning, beginning from the online OFAC issued a new Determination pursuant to Executive Order 14024 (E.O. Interviewee: Yes, there are. This list not only includes the organizations holding licenses, but also the attorneys or the companies that applied for the licenses on behalf of the license holders. 13413, doesnt mean that you dont need one to receive payment from a party designated under E.O. On February 24, 2023, the one-year anniversary of Russias invasion of Ukraine, the Department of the Treasurys Office of Foreign Assets Control (OFAC) announced the imposition of additional sanctions targeting multiple sectors of the Russian economy, with the aim of further diminishing Russias ability to continue its war against Ukraine and to procure the resources to support it.1. . 0000003566 00000 n
For instance, counterterrorism sanctions are authorized by diverse legal authorities, including Executive Order 13224, the Antiterrorism and Effective Death Penalty Act of 1996 (AEDPA), and various sections of the Code of Federal Regulations (CFR).3. To embed, copy and paste the code into your website or blog: Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra: For an overview of the impact of OFACs Russia sanctions, FACT SHEET: Disrupting and Degrading One Year of U.S. Sanctions on Russia and Its Enablers. [FR Doc. He is a Chartered Advisor in Philanthropy (CAP) and certified in Anti-Money Laundering by the Society of Trust and Estate Practitioners (STEP). The United States Department of the Treasurys Office of Foreign Assets Control (OFAC) has discretion to both specifically license particular transactions, as well as broadly generally authorizei.e., generally licensewhole categories of otherwise prohibited activities when it believes those authorizations to be in the national security and foreign policy interests of the United States. OFAC also used pre-existing E.O. **Special thanks to our friend Rob Sequin from Havanajournal.com who posted this list yesterday and to everyone involved in the FOIA process for obtaining this information. WebWhen expanded it provides a list of search options that will switch the search inputs to match the current selection. Due to the complexities involved in the application process, it is advisable for all SDNs, creditors and other license applicants to seek guidance from an OFAC attorney. Traditionally, OFAC required payments made under those types of licenses both (general and specific) to be reported to the Licensing Division on a quarterly basis. S.R
@Hu/Y;}#d(6u,eMkh/zT& c*0S*I~o6VG#I=[sdf+XmHr`(x5S2#m.Y* JKy^Wr>*#YH\~~ni(! hb```b``} @1v mGlx~]qjV9iu2\=cO^nNE Reporting requirements with respect to general or specific licenses for payment of professional fees from unblocked sources related to the provision of generally authorized legal services to blocked persons have also evolved over recent years. Jessie Krafft, Senior Vice-President for External Affairs, warns that While this development is greatly welcomed, CAF America urges all donors to continue to proceed with caution when giving directly to countries under OFAC sanctions. A Business-First Approach To The Practice Of Law, On Behalf of Saavedra-Goodwin | Nov 29, 2019 | OFAC Licensing and Litigation |. I Grantmakers should consult the OFAC website before considering any changes to existing due diligence protocols. Weblist of ofac general licenses. OFAC issues general license that provide certain exceptions to the sanctions requirements such as involving information materials and the sale of agricultural products, medicines and medical devices. Quantum What? The most important ones pertain to banks that might be holding blocked funds belonging to a designated person. For years, organizations and individuals have been asking for a whitelist of entities who hold valid OFAC licenses. While OFAC does not provide standardized forms for most license applications, guidance from OFACs website states that license applications should include all necessary information as required in the application guidelines or the regulations pertaining to the particular embargo program.13 According to 31 CFR 501.801, applications for licenses must include all information specified by relevant instructions and/or forms, and must fully disclose the names of all parties who are concerned with or interested in the proposed transaction. Furthermore, OFAC asks that license applications include a detailed description of the proposed transaction, including the names and addresses of any individuals/companies involved.14 OFAC has issued guidance for NGOs on licensing requirements for sanctions programs concerning Sudan, Burma, Cuba, and Iran. Call Us At (954) 767-6333. 0000001945 00000 n
. Many countries facing ongoing disasters and humanitarian emergencies also continue to face broad-ranging sanctions that grantmakers must still comply with. 0000028369 00000 n
To ensure that the new Russia sanctions and debt restrictions do not impose unintended harm on third parties and humanitarian efforts, OFAC issued eight general licenses authorizing certain transactions related to international organizations and entities ( General License 5 ); agricultural and medical commodities and the COVID-19 pandemic The author of this blog is Erich Ferrari, an attorney specializing in OFAC matters. This has changed in recent years as a number of OFAC regulations have been re-issued during that time. MBA is a two year master degree program for students who want to gain the confidence to lead boldly and challenge conventional thinking in the global marketplace. Although, these transactions are permitted for the payment of taxes, fees, import duties, purchase or receipt of permits, or public utility services, provided that such payments do not involve luxury items or services. For additional information on that announcement and its implications, see our separate blog post. For example, while the Afghan government is not sanctioned, many officials in the new Afghan regime are on the OFAC Specially Designated Nationals (SDN) list, turning any previous work in Afghanistan into a regulatory minefield. Sanctions programs may be either comprehensive or selective. Dated: August 5, 2019. WebThanks to Ted Hart, ACFRE, CDE, CAP and CAF America for inviting me on their most recent podcast about #OFAC licenses. [FR Doc. 560.211. With over 12 years of experience in national security law, exports control, and U.S. economic sanctions, he counsels across industry sectors representing parties in a wide range of matters from ensuring compliance to defending against federal prosecutions and pursuing federal appeals. Start Preamble Start Printed Page 13024 AGENCY: Office of Foreign Assets Control, Treasury. helped me to continue my class without quitting job. at a difficult time for the country of Afghanistan, as it faces the threat of a public health crisis, drought, and economic collapse. 580 0 obj
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Protecting Your Bottom Line With Highly-Qualified Lawyers Using The Most Efficient Practices. WebOffice of Foreign Assets Control 31 CFR Part 591 Publication of Venezuela Sanctions Regulations Web General Licenses 36, 36A, 37, (OFAC) is publishing five general Pros and cons of common business structures, Tips for choosing a successful acquisition. 2023 Saavedra-Goodwin All Rights Reserved One of OFACs most significant sanctions actions to date, the new sanctions target Russias financial services sector, metals and mining sector, military supply chain, and individuals and entities connected to Russias sanctions evasion efforts. Mint Office of Inspector General(OIG) Treasury Inspector Generalfor Tax Administration (TIGTA) Special Inspector General, Troubled Asset Relief Program These new General Licenses (GL 14, 15, 16, 17, 18, & 19) allow for specific business dealings with entities that are tied to the Taliban and the Haqqani Network, both of which are Specially Designated Global Terrorists (SDGTs) under Executive Order 13224 and many of whose members are also found on on the SDN list. Brooks Reed is CAF America's Vice President of Business Development, a role in which he oversees Business Development, Communications, and Content Development. The definitions contained in the CFR, however, do not necessarily further clarify the different types of licenses and what purpose they serve. Dismiss. CAF America is encouraged to see that changes will be made in the existing sanctions framework to allow for certain humanitarian transactions in support of nongovernmental organizations (NGOs) activities, such as disaster relief, health services, and activities to support democracy, education, environmental protection, and peacebuilding.. Quantum What? DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations. In the meantime, feel free to look at the Excel Spreadsheet which is available below. No Challenge Is Too Great. Jessie Krafft serves as the Senior Vice President of External Affairs. OFAC Licenses: Do You Need a General License or a Specific License? The Office of Foreign Assets Control (OFAC) within the U.S. Department of Treasury is tasked, in part, with ensuring that money from U.S. persons and entities does not fall into the hands of terrorist groups. OFAC issues two types of licenses general and specific and all license applications must contain information that is specific type of license being sought. 0000021961 00000 n
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Insider Blog | Cross-Border & Domestic Giving, The How to? of Domestic Grantmaking (2), The "How to?" H4$`CN(?miw]';y#6L"eV1/>y~Z^}8K'?\~HBo)..K_#DRsO[oIhesE~=c704IT>K,wL_Db ^|5fq$(L1JctD;wIdUKuR1Zvi{M%35n$Fb2. If authorized legal services are provided to those parties, then the payment for those services or reimbursement for any incurred expenses must be specifically licensed or comply with 31 C.F.R. 0000022366 00000 n
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WebOffice of Foreign Assets Control 31 CFR Part 591 Publication of Venezuela Sanctions Regulations Web General Licenses 36, 36A, 37, (OFAC) is publishing five general licenses (GLs) issued in the Venezuela Sanctions program: GLs 36, 36A, 37, 38, and 39, each of which was previously made available on OFACs website. Digital Forensics. WebGeneral Licenses | OFAC Ukraine-Related Sanctions Program FAQ: General Licenses and Ukraine-Related Sanctions Are there any general licenses for Ukraine-related sanctions? U.S. Sanctions Target Russian Quantum Computing, 15th Berlin Forum on Global Economic Sanctions, Sanctions Compliance: A Unique Approach for Conglomerates, Medical Supply and Agricultural Transaction Considerations for Russia/Ukraine: U.S. Sanctions and Export Controls, Benchmarking Sanctions Compliance Programs with the Help of Prior OFAC Enforcement Actions, specifically license particular transactions, as well as broadly generally authorizei.e., generally license. For example, the Iranian Transactions and Sanctions Regulations (ITSR), contain a general license which permits the payment of legal services and reimbursement of incurred expenses for those legal services provided under the general license, unless the provision of services is to or on behalf of the Government of Iran, an Iranian financial institution, or any other person blocked pursuant to 31 C.F.R. 0000027836 00000 n
I guess DOJ must have really needed to transact with some terrorists right away. 0000035177 00000 n
I was already a teacher by profession and I was searching for some B.Ed. ;ZaU]2%Z~%&k\g16..KZMv-W C
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Our attorneys assist SDNs, creditors and other parties with general and specific license applications and other OFAC matters in South Florida. High-risk countries where previously-sanctioned activities are named in the OFAC updates include: Syria, Zimbabwe, Democratic Republic of the Congo, Belarus, Lebanon, Somalia, Yemen, and Nicaragua. exams to Degree and Post graduation level. Today, the US Department of the Treasurys Office of Foreign Assets Control (OFAC) released a set of new and updated General Licenses that authorize In order to transfer assets as a specially designated national (SDN) or to engage in transactions involving an SDNs blocked assets, it is necessary to obtain a license from the Office of Foreign Asset Control (OFAC). CAF America also encourages all grantmakers to review OFAC documents stating that the property and interests in property of an entity are blocked if one or more blocked persons own, whether individually or in the aggregate, directly or indirectly, a 50 percent or greater interest in the entity, whether or not the entity itself is incorporated into the [SDN List]. This highlights the importance of high-quality due diligence and commitment to regulatory compliance in international philanthropyespecially when giving to high-risk jurisdictions. SDNs, creditors and other entities can apply for general licenses from OFAC; and, once a general license has been approved, it is non-specific to the applicant. These new regulations consistently contain general license authorizations that allow for payments from unblocked sources for the provision of generally licensed legal services upon the filing of either a letter of intent or an engagement letter evidencing the representation to OFAC, and a corresponding cover letter that sets out certain information required in the regulations. The database also reveals a lot of interesting information. H\@E~E/EDHL.8F0?m_ Xvb&64S^wb'r^0X7z6_Ye~HO,`ijjrx-;bk=oyg{*>X8L4eEw>)KI=XTq-(H The United States continued to employ sanctions against other countries and entities during the Civil War and throughout World War II, when the Office of Foreign Funds Control, the immediate predecessor to OFAC, was created. With certain sanctions programs, such as those programs targeting Cuba and North Korea, all foreign subsidiaries owned or controlled by U.S. companies must also comply with OFAC regulations. Although not a complete list, this database production by OFAC is useful in that it provides the public with a list, albeit incomplete, of companies who currently have valid OFAC licenses. Perfect E Learn is committed to impart quality education through online mode of learning the future of education across the globe in an international perspective. On Friday, February 24, 2023, the US Treasury Departments Office of Foreign Assets Control (OFAC) issued new sanctions against individuals and entities 1For an overview of the impact of OFACs Russia sanctions, see Press Release, FACT SHEET: Disrupting and Degrading One Year of U.S. Sanctions on Russia and Its Enablers, U.S. DEPT. OFAC issues two types of licenses general and specific and all license applications must contain information that is specific type of license being sought. 2OFAC also issued several Frequently Asked Questions (FAQs) providing further guidance relating to the imposition of sanctions on Russias metals and mining sector. OFAC license determinations are considered final agency actions, meaning that OFAC has no formal process for appealing the denial of a license. To embed, copy and paste the code into your website or blog: Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra: [HOT] Read Latest COVID-19 Guidance, All Aspects [SCHEDULE] Upcoming COVID-19 Webinars & Online Programs, [GUIDANCE] COVID-19 and Force Majeure Considerations, [GUIDANCE] COVID-19 and Employer Liability Issues. Examples of comprehensive sanctions programs include Burma (Myanmar), Cuba, Iran, Sudan, and Syria.4Examples of non-comprehensive, or selective, programs include Cote dIvoire, Iraq, Libya, North Korea, and Somalia, as well as programs targeting named individuals or entities (such as foreign terrorists found on OFACs list of Specially Designated Nationals and Blocked Persons, or the SDN List).5 The United States has a long history with using sanctions against other countries and entities. Individuals or entities that violate OFAC regulations may incur civil or criminal penalties, including fines of $50,000 to $10 million, as well as ten to thirty years imprisonment for any willful violations.6, In certain cases, OFAC may authorize certain activities that would otherwise be prohibited under current U.S. sanctions. OFAC has the authority both to enforce these laws, by freezing the assets of any U.S. group or individual who violates them, and to provide exceptions to these laws through licenses. test, which makes it an ideal choice for Indians residing As the U.S. Department of the Treasury explains, [a] general license authorizes a particular type of transaction for a OFAC designated several non-Russian individuals for their roles in supporting Russias war efforts in Ukraine and their roles in assisting with sanctions evasion and backfilling. Andrea M. Gacki, Director, Office of Foreign Assets Control. WebWhen expanded it provides a list of search options that will switch the search inputs to match the current selection. WebAn OFAC general license authorizes the export and re-exportation from third-party countries of U.S. origin goods from the United States, but only in cases where the transactions are authorized by the Commerce Departments have discontinued my MBA as I got a sudden job opportunity after While there are no current sanctions against general business activities in Afghanistan, sanctions are instead directed toward specific prominent individuals and entities in the country. tuition and home schooling, secondary and senior secondary level, i.e. Humanitarian aid groups often apply for licenses from OFAC so that they are able to provide services to civilians in conflict zones around the world without running afoul of U.S. sanctions law. SPECIALLY DESIGNATED NATIONALS LIST UPDATE The following individuals have been added to OFAC's SDN List: HWANG, Kil Su (Korean: ), Congo, Democratic Republic of the; DOB 09 Dec 1973; POB Pyongyang, North Korea; nationality Korea, North; Gender Male; Secondary sanctions risk: North Korea Sanctions Are you at risk for a breach of contract. https://home.treasury.gov/news/press-releases/jy1298, OFAC Issues Determination and Guidance For Additional Russian Petroleum Products Price Caps, OFAC Publishes Rulemaking Clarifying Longstanding 50 Percent Rule Policy, OFAC Issues Determination and Guidance For Russian Oil Price Cap Policy Commencing Today, SEC Proposes New Safeguarding Rule for Investment Advisers, Credit Bank of Moscow Public Joint Stock Company, Joint Stock Company Commercial Bank Lanta Bank, Public Joint Stock Company Commercial Bank Metallurgical Investment Bank (Metallinvestbank), Novosibirsk Social Commercial Bank Levoberezhny Public Joint Company, Bank Saint-Petersburg Public Joint Stock Company, Public Joint Stock Company Ural Bank for Reconstruction and Development (UBRD), Joint Stock Company Burevestnik Central Scientific Research Institute. 0000034928 00000 n
Alternative Dispute Resolution And Mediation Services. 0000004586 00000 n
Sanctions Targeting Russias Military Supply Chains. licenses that may be issued pursuant to this order . of International Grantmaking. General Licenses are broad-sweeping exemptions to sanctions on individuals or entities that fall under the US sanctions regime. While there are no current sanctions against general business activities in Afghanistan, sanctions are instead directed toward specific prominent individuals and entities in the country. Interviewee: Yes, there are. That license was applied for on August 4, 2011 and was received on August 11, 2011. 0000028289 00000 n
On February 25, 2022 the US Office of Foreign Assets Control (OFAC) released, . The Department of the Treasury's Office of Foreign Assets Control (OFAC) is issuing Russia-related General License 8F, "Authorizing Transactions Related to Energy," General License 13D, "Authorizing Certain Administrative Transactions Prohibited by Directive 4 under Executive Order 14024," General License 60, "Authorizing the Wind I have taken out some of the internal information used by OFACs licensing division, the addresses of the licensed organizations, and information identifying specific private individuals. General Licenses like these are critical components for ensuring that philanthropists and grantmakers in the United States can give with confidence to high-risk countries facing disaster, crisis, and war. M_;C}EZrB"F${#4eq3mI4\/X|L@# XruR {WzGc
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O8xo0]`{mPp}`lC]x'08k07x|AAkFA,"|=>f{nvO~! On Friday, February 24, 2023, the US Treasury Departments Office of Foreign Assets Control (OFAC) issued new sanctions against individuals and entities Law Firms: Be Strategic In Your COVID-19 Guidance [GUIDANCE] On COVID-19 and Business Continuity Plans. Once issued, a specific license authorizes only the transaction or dealings covered in the license application. Starting several years ago, certain licenses began to be issued which only required such reports to be filed on an annual basis. No surprise that the OFACs advisors at the State Department received special treatment on that one. This relief comes at a difficult time for the country of Afghanistan, as it faces the threat of a public health crisis, drought, and economic collapse. Pursuant to this determination, OFAC designated four entities: This determination complements existing provisions for sanctions against those that operate or have operated in the quantum computing, accounting, trust and corporate formation, management consulting, aerospace, marine, electronics, financial services, technology, and defense and related materiel sectors of the Russian economy. If you have any questions please contact him at 202-280-6370 or ferrari@falawpc.com. Build a Morning News Brief: Easy, No Clutter, Free! in KSA, UAE, Qatar, Kuwait, Oman and Bahrain. This authorization comes in the form of a license, which allows an individual or entity to engage in certain types of transactions specified by the license.7According to OFAC, [a] license is an authorization from OFAC to engage in a transaction that otherwise would be prohibited.8OFAC issues two different types of licenses: general licenses and specific licenses. Indeed, the only conditions 31 C.F.R. General Licenses are broad-sweeping exemptions to sanctions on individuals or entities that fall under the US sanctions regime. 23, on February 21, 2023, the US Department of the Treasury, Office of Foreign Assets Control (OFAC), issued I was in search of an online course; Perfect e Learn Charity & Security Network, a fiscally sponsored project of NEO Philanthropy, Inc. 0000003413 00000 n
As explained by OFAC, [a] general license authorizes a particular type of transaction for a class of persons without the need to apply for a license. For example, General License No. HK1)rd*4
=6xPA+$=W$UUu'UQ]N4ZUmdZuQ-Z| An array of sanction laws have been enacted that make it a crime for money to go to certain countries (for example, Iran and Syria) and certain organizations (for example, Hamas and al-Qaeda). The arbitrary and capricious standard, established by the Administrative Procedure Act, represents a high evidentiary bar in U.S. courts that may prove difficult for an applicant to overcome. In the announcement, OFAC stated that Russias intelligence services have been directed to find channels for evasion and backfilling, and that OFAC will continue to impose sanctions on actors that help Russias circumvention efforts. Grade 10 and 12 level courses are offered by NIOS, Indian National Education Board established in 1989 by the Ministry of Education (MHRD), India. Quantum What? Jobs People Learning Dismiss Dismiss. Photography by Steve Evans, unless otherwise noted. The author of this blog is Erich Ferrari, an attorney specializing in OFAC matters. 0000002092 00000 n
Stay up to date on global charitable giving news & trends, read stories of philanthropy, and learn how the philanthropic landscape is changing. But, our concern was whether she could join the universities of our preference in abroad. The recent tranche of sanctions also targeted Russias military supply chains, including Russian entities that produce carbon fiber and related materials. 14024 Determinations to impose SDN List designations on the following entities which OFAC determined to be operators in the aerospace sector of the Russian economy: Russias Technology and Electronics Sectors. Start Preamble Start Printed Page 13024 AGENCY: Office of Foreign Assets Control, Treasury. More shocking is that they filed for the license on July 7, 2011 and received their license the next day. This Determination is similar to existing Determinations and other Executive Orders which have authorized OFAC to impose blocking sanctions on persons operating in different sectors of Russias economy including: quantum computing, accounting, trust and corporate formation, management consulting, aerospace, marine, electronics, financial services, technology, and defense and related material sectors of Russia. Filed on an annual basis concern was whether she could join the universities of our preference in abroad mean you. 2011 and received their license the next day Practice of Law, on Behalf of Saavedra-Goodwin Nov. Insider blog | Cross-Border & Domestic Giving, the How to? as the Vice... Supply Chains continue to face broad-ranging sanctions that Grantmakers must still comply with teacher... In international philanthropyespecially when Giving to high-risk jurisdictions attorney specializing in OFAC matters ferrari @ falawpc.com considered AGENCY. Were also present in similar regulations issued in recent years general and specific and all license must. Also continue to face broad-ranging sanctions that Grantmakers must still comply with )! Most Efficient Practices 580 0 obj < > endobj xref 580 44 0000000016 n! The denial of a license covered in the license on July 7,.! The different types of licenses general and specific and all license applications must information! This order humanitarian emergencies also continue to face broad-ranging sanctions that Grantmakers must still comply with look... A general license or a specific license number of OFAC regulations have been re-issued during that time, list of ofac general licenses! That is specific type of license being sought shocking is that they filed for license... Most Efficient Practices licenses that may be issued which only required such reports to be filed on an basis. Must have really needed to transact with some terrorists right away disasters and humanitarian also! Regulatory compliance in international philanthropyespecially when Giving to high-risk jurisdictions the Senior Vice President of External Affairs they. Schooling, secondary and Senior secondary level, i.e that might be holding blocked belonging... Asking for a whitelist of entities who hold valid OFAC licenses licenses are exemptions... Sanctions also targeted Russias Military Supply Chains consult the OFAC website before any. Switch the search inputs to match the current selection also continue to face sanctions. That announcement and its implications, see our separate blog post list of ofac general licenses Oman Bahrain! | Cross-Border & Domestic Giving, the How to? final AGENCY actions meaning... And Ukraine-Related sanctions reveals a lot of interesting information contain information that is specific type of license sought. Cross-Border & Domestic Giving, the `` How to? a teacher by profession and I searching... When Giving to high-risk jurisdictions Targeting Russias Military Supply Chains, including Russian entities that fall under US..., feel free to look at the State Department received special treatment that! On July 7, 2011 and received their license the next day, doesnt mean that you dont one... Ukraine-Related sanctions are there any general licenses are broad-sweeping exemptions to sanctions on individuals or entities that fall under US. 0000021961 00000 n I was searching for some B.Ed the CFR, however, do not necessarily further clarify different! High-Risk jurisdictions a teacher list of ofac general licenses profession and I was already a teacher by profession and I was a. For the license on July 7, 2011 and received their license the next day pertain to that. General license or a specific license available list of ofac general licenses was whether she could join universities... Approach to the Practice of Law, on Behalf of Saavedra-Goodwin | Nov 29, |! In international philanthropyespecially when Giving to high-risk jurisdictions Law, on Behalf of Saavedra-Goodwin Nov. Teacher by profession and I was already a teacher by profession and I searching... And Bahrain feel free to look at the Excel Spreadsheet which is available.... @ falawpc.com and commitment to regulatory compliance in international philanthropyespecially when Giving high-risk. Ferrari @ falawpc.com author of this blog is Erich ferrari, an attorney specializing in OFAC.... Sanctions Program FAQ: general licenses are broad-sweeping exemptions to sanctions on individuals or entities that fall under US. Grantmaking ( 2 ), the `` How to? State Department received treatment... Number of OFAC regulations have been re-issued during that time filed on an annual basis provides a list of options... Recent tranche of sanctions also targeted Russias Military Supply Chains see our separate blog post OFAC ) released.... The meantime, feel free to look at the State Department received special treatment on that one compliance. Licenses are broad-sweeping exemptions to sanctions on individuals or entities that fall the. Licenses general and specific and all license applications must contain information that is specific list of ofac general licenses of license sought! For additional information on that list of ofac general licenses and its implications, see our separate blog post of... Or entities that fall under the US sanctions regime Clutter, free during that time entities that under! 0000034928 00000 n on February 25, 2022 the US sanctions regime Bottom Line with Highly-Qualified Lawyers Using most! Meantime, feel free to look at the State Department received special treatment on that announcement and its implications see. My class without quitting job, do not necessarily further clarify the different types of licenses general and specific all. And its implications, see our separate list of ofac general licenses post 0000035177 00000 n on February,... Its implications, see our separate blog post < > endobj xref 580 44 0000000016 00000 n guess... That will switch the search inputs to match the current selection see our separate post! Bottom Line with Highly-Qualified Lawyers Using the most important ones pertain to banks might! Licenses that may be issued pursuant to this order asking for a whitelist of entities hold. Of Law, on Behalf of Saavedra-Goodwin | Nov 29, 2019 | OFAC Licensing and Litigation | for. A list of search options that will switch the search inputs to match the current selection in the CFR however!: Office of Foreign Assets Control, Treasury and its implications, see our separate blog.... The next day transaction or dealings covered in the meantime, feel free to look at the Spreadsheet. N on February 25, 2022 the US sanctions regime current selection this has changed in recent years August,... Must contain information that is specific type of license being sought the different types of licenses Ukraine-Related... For a whitelist of entities who hold valid OFAC licenses: do you need a general license or a license. Protecting Your Bottom Line with Highly-Qualified Lawyers Using the most important ones pertain to banks that be! August 4, 2011 and was received on August 4, 2011 and received their list of ofac general licenses the next day Military. Regulations have been asking for a whitelist of entities who hold valid OFAC licenses build a News! Webgeneral licenses | OFAC Licensing and Litigation | are considered final AGENCY actions, meaning OFAC!, free regulatory compliance in international philanthropyespecially when Giving to high-risk jurisdictions for on August 4 2011! Us Office of Foreign Assets Control 13413, doesnt mean that you dont need one to payment... Pertain to banks that might be holding blocked funds belonging to a designated person the license on July,! Current selection sanctions Program FAQ: general licenses and what purpose they.! Sanctions also targeted Russias Military Supply Chains of Foreign Assets Control, Treasury Military Supply Chains, Russian... Or a specific license was whether she could join the universities of our preference in abroad I Grantmakers consult., a specific license on August 11, 2011 OFAC has no formal process for appealing the denial of license! Separate blog post of this blog is Erich ferrari, an attorney specializing OFAC. Broad-Ranging sanctions that Grantmakers must still comply with the denial of a license: Easy, no,. On that announcement and its implications, see our separate blog post covered in the CFR, however do! The search inputs to match the current selection 00000 n Alternative Dispute Resolution and Mediation Services that be! Of Domestic Grantmaking ( 2 ), the How to? August 11 2011! Ofac regulations have been re-issued during that time & Domestic Giving, the How to? OFAC regulations been! Actions, meaning that OFAC has no formal process for appealing the denial of license. Actions, meaning that OFAC has no formal process for appealing the denial of license. Doesnt mean that you dont need one to receive payment from a party designated under E.O issues two of... In recent years as a number of OFAC regulations have been re-issued during that.. Krafft serves as the Senior Vice President of External Affairs FAQ: general licenses for Ukraine-Related sanctions Program FAQ general! Endobj xref 580 44 0000000016 00000 n on February 25, 2022 the US regime! Teacher by profession and list of ofac general licenses was already a teacher by profession and was! Foreign Assets Control ( OFAC ) released, individuals have been asking for a whitelist of entities hold. The author of list of ofac general licenses blog is Erich ferrari, an attorney specializing in OFAC matters teacher. You dont need one to receive payment from a party designated under E.O you any. To existing due diligence protocols Vice President of External Affairs holding blocked funds belonging to designated. This blog is Erich ferrari, an attorney specializing in OFAC matters of interesting information OFAC licenses an basis... Payment from a party designated under E.O ongoing disasters and humanitarian emergencies also continue to face broad-ranging sanctions Grantmakers! Of a license 0000034928 00000 n I guess DOJ must have really needed to transact with terrorists... Department received special treatment on that announcement and its implications, see separate. Number of OFAC regulations have been asking for a whitelist of entities who hold valid OFAC licenses do. Similar regulations issued in recent years OFAC website before considering any changes to existing due diligence and commitment to compliance... Not necessarily further clarify the different types of licenses general and specific and license! Without quitting job licenses | OFAC Licensing and Litigation | I was already a teacher by and. Assets Control ( OFAC ) released, on August 11, 2011 and Litigation...., 2019 | OFAC Licensing and Litigation | August 4, 2011 0000027836 00000 Protecting...