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ARTICLE · 20 NOVEMBER 2024

OFAC Issues Additional General Licenses, Guidance, And A Final Rule

Lewis Brisbois Bisgaard & Smith LLP
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Washington, D.C. (October 22, 2024) - On September 30, the U.S. Department of the Treasury's Office of Foreign Assets Control ("OFAC") issued a new General License ("GL") and updated its Specially.

United StatesInternational Law
Andrew Pidgirsky
Andrew Pidgirsky
George Leahy
George Leahy
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Washington, D.C. (October 22, 2024) - On September 30, the U.S. Department of the Treasury's Office of Foreign Assets Control ("OFAC") issued a new General License ("GL") and updated its Specially Designated Nationals ("SDN") and Sectoral Sanctions Identifications ("SSI") Lists. Earlier in September, OFAC issued two additional GLs, an updated Russia-related Frequently Asked Question ("FAQ"), and a Final Rule.

Russia-related GL13K, issued on September 30, replaces GL 13J and authorizes, through 12:01 a.m. EST, January 8, 2025, U.S. persons, or entities owned or controlled directly or indirectly by a U.S. person, to pay certain taxes, fees, or import duties, or to purchase or receive permits, licenses, registrations, certifications, or tax refunds otherwise prohibited by Directive 4 under Executive Order 14024. Directive 4 largely prohibits U.S. persons from engaging in transactions with the Central Bank of the Russian Federation, the National Wealth Fund of the

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