OFAC Reissues Transnational Criminal Organizations Sanctions Regulations

In a final rule, OFAC amended and reissued, in its entirety, the Transnational Criminal Organizations Sanctions Regulations (the "TCO Sanctions Regulations"), 31 CFR Part 590. The final rule was published in the Federal Register.

The amendments to the TCO Sanctions Regulations clarify certain definitions, incorporate new general licenses, and amend and renumber existing general licenses. Among other changes, the new and amended general licenses authorize certain investments of blocked property by financial institutions, permit payments for certain legal services on behalf of designated persons, and authorize certain transactions for the conduct of official business of the U.S. government, the United Nations, and other international organizations.