list of ofac general licenses

recommend Perfect E Learn for any busy professional looking to 0000036189 00000 n A general license authorizes a particular type of transaction for a class of persons without the need to apply for a license.9 A specific license is a written document issued by OFAC to a particular person or entity, authorizing a particular transaction in response to a written license application.10 The Code of Federal Regulations (CFR) is the collection of regulations setting out how the executive branch will interpret the parts of the U.S. Code that Congress charged it with enforcing. Photography by Steve Evans, unless otherwise noted. have discontinued my MBA as I got a sudden job opportunity after Nor does this General License permit financial transactions involving any blocked individual who is in a leadership role of a governing institution in Afghanistan. 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. 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. 0000004656 00000 n 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. 0000004118 00000 n All the courses are of global standards and recognized by competent authorities, thus Build a Morning News Brief: Easy, No Clutter, Free! The author of this blog is Erich Ferrari, an attorney specializing in OFAC matters. For example, OFAC specific licenses issued under the Non-Proliferation of Weapons of Mass Destructions Sanctions Regulations (NPWMDSR) still require quarterly reports to be made for payments related to the provision of legal services to persons blocked under E.O. [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. Amended General Licenses Amended GLs include the following: GL 6C, Transactions Related to Agricultural Commodities, Medicine, Medical Devices, Today, the US Department of the Treasurys Office of Foreign Assets Control (OFAC) released a set of new and updated General Licenses that authorize four types of broad-ranging activities supporting much-needed humanitarian aid and assistance. 13224 and contains a general license authorization allowing payments for the provision of generally authorized legal services from unblocked sourcesalso maintains a quarterly reporting requirement. Online tuition for regular school students and home schooling children with clear options for high school completion certification from recognized boards is provided with quality content and coaching. 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 Rather, OFAC states that it will reconsider its licensing decisions only for good cause, defined as situations where the applicant can demonstrate changed circumstances or submit additional relevant information not previously made available to OFAC.26 The only challenge a person or entity could make to OFACs denial of a license would be through the judicial process: here, the party challenging the decision would have to prove that OFAC acted arbitrarily and capriciously in denying the license application. ACTION: Publication of web general licenses. OFAC also issued two new General Licenses: General License 58, Authorizing the Wind Down and Rejection of Transactions Involving Public Joint Stock 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. 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. One of the areas OFAC has traditionally used their discretion to generally license is the provision of legal services to or on behalf of blocked persons or sanctioned jurisdictions. Once issued, a specific license authorizes only the transaction or dealings covered in the license application. WebOn August 24, 2023, the US Department of the Treasurys Office of Foreign Assets Control (OFAC) has imposed new sanctions, updated the SDN list, and issued new documents: Determination pursuant to 1(a)(i) of Executive Order 14024 and four General Licenses (GLs). .12. 0000002634 00000 n For instance, just because you dont need a license to receive payment from a party designated under E.O. Are you at risk for a breach of contract. tuition and home schooling, secondary and senior secondary level, i.e. in KSA, UAE, Qatar, Kuwait, Oman and Bahrain. General License No. Dated: August 5, 2019. The petroleum products ban builds on a similar ban related to maritime transportation of Russian-origin crude oil that, Copyright 2023 Sanctions & Export Controls Update, Canada Further Sanctions Iranian Regime: 12 Individuals Targeted, Sanctions Enforcement Around the G7: Intro to Blog Series and View from the United States, Ukraine introduces three new sets of sanctions against persons contributing to the Russian aggression against Ukraine, Japan announces further sanctions against Russia, Canada Imposes Additional Sanctions Against Russia: 129 Individuals and 63 Entities Targeted, Australia adopts further sanctions against Russia, EU adopts 10th package of sanctions against Russia, US Government Imposes New Sanctions, Export Controls, and Tariffs Targeting Russia and Belarus to Mark One-Year Anniversary, OFAC Issues Russian Petroleum-related Determinations, Updates Guidance on Implementation of the Price Cap Policy, and Amends Related General Licenses, OFAC Issues General License Authorizing Earthquake Relief Efforts in Syria, OFAC Issues Amended Russia-Related General Licenses and Related FAQs, OFAC Publishes Preliminary Guidance on Implementing the Price Cap Policy for Petroleum Products of Russian Origin. 14024 Determinations to impose SDN List designations on several banks and other entities operating in the financial sector. He frequently represents clients before the United States Department of the Treasurys Office of Foreign Assets Control (OFAC), the United States Department of Commerces Bureau of Industry and Security (BIS), and in federal courts around the country. As the Founder and Principal of Ferrari & Associates, P.C., Mr. Ferrari represents U.S. and foreign corporations, financial institutions, exporters, insurers, as well as private individuals in trade compliance, regulatory licensing matters, and federal investigations and prosecutions. 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. 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. Sanctions Targeting Russias Military Supply Chains. Additionally, OFAC states that it may consider OFAC related conduct, including, for example, past compliance with rules and regulations.23 The guidance also contains recordkeeping and reporting requirements for entities that receive OFAC licenses.24 According to OFACs most recent licensing report on the Sudanese and Iranian sanctions programs, the average processing time for issuing license determinations is 77 business days.25 While not indicative of the processing time for other types of licenses, this information offers one example of the amount of time it takes OFAC to reach a decision on a license application. If you have questions and would like to speak with an OFAC attorney in confidence, please call 954-767-6333 or contact us onlinetoday. 0000004736 00000 n The full article can be foundhere. Certain financial institutions may still choose not to honor these licenses; thus finding a banking partner that will transfer funds into these regions will still be an important step.. This was recorded before the Paul Carroll no LinkedIn: New OFAC General Licenses for Humanitarian Seward & Kissel LLP var today = new Date(); var yyyy = today.getFullYear();document.write(yyyy + " "); | Attorney Advertising, Copyright var today = new Date(); var yyyy = today.getFullYear();document.write(yyyy + " "); JD Supra, LLC. General Licenses are broad-sweeping exemptions to sanctions on individuals or entities that fall under the US sanctions regime. The author of this blog is Erich Ferrari, an attorney specializing in OFAC matters. 0000001945 00000 n 13224.. 0000028219 00000 n at a difficult time for the country of Afghanistan, as it faces the threat of a public health crisis, drought, and economic collapse. hb```b``} @1v mGlx~]qjV9iu2\=cO^nNE The provision of agricultural commodities, medicine, medical devices, replacement parts and components, or software updates for medical devices for personal, non-commercial use. 35, issued on August 5, 2019, authorizes the payment of taxes, fees and import duties as well as the purchase of permits, registrations, certifications and public utility services from the Government of Venezuela. But, our concern was whether she could join the universities of our preference in abroad. For example, 31 CFR 595.305 defines a general license as any license or authorization the terms of which are set forth in this part. Specific licenses, defined in 31 CFR 595.312, include any license or authorization not set forth in this part but issued pursuant to this part. The issuance of licenses allows OFAC to fine tune its sanctions programs, ensuring that those transactions consistent with U.S. policy are permitted.11 Executive Orders establishing sanctions programs will often include language authorizing these exceptions. Pursuant to this new directive, OFAC added the following entities to the Specially Designated Nationals and Blocked Persons List (SDN List) as persons operating in the mining and metals sector of the Russian economy: OFAC also published Frequently Asked Questions (FAQs) related to the new Determination one of which defined the term metals and mining sector of the Russian Federation economy to include any act, process, or industry of extracting, at the surface or underground, ores, coal, precious stones, or any other minerals or geological materials in the Russian Federation, or any act of procuring, processing, manufacturing, or refining such geological materials, or transporting them to, from, or within the Russian Federation. Unlike general licenses, specific licenses cannot be utilized by other parties, though it may be possible to obtain a specific license that is similar to an existing one issued to another SDN, creditor or other party. WebOn August 6, 2019, the U.S. Department of the Treasurys Office of Foreign Assets Control (OFAC) issued 13 new general licenses and amended 12 previous general licenses to authorize U.S. persons to continue engaging in a range of narrowly defined transactions involving Venezuelas government. 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. 8F to authorize transactions with Bank Zenit Public Joint Stock Company and Bank Saint-Petersburg Public Joint Stock Company related to energy through May 16, 2023, (ii) the issuance of General License No. 13382. Jessie Krafft serves as the Senior Vice President of External Affairs. HK1)rd*4 =6xPA+$=W$UUu'UQ]N4ZUmdZuQ-Z| exams to Degree and Post graduation level. At the time the ITSR was issued, the regulations typically required specific license authorization to allow payments from blocked persons for generally authorized legal services provided to that blocked person. 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. Recent proposed changes to the regulations would permit some applications to be filed electronically.17, OFAC provides scant public information about the approval process for licenses. What is interesting, however, is that OFAC has not remained consistent in implementing the change from quarterly to annual reporting under these types of authorizations. 0000027594 00000 n 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.. OFAC broadly states that its licensing determinations are guided by U.S. foreign policy and national security concerns and may involve coordination with other federal agencies, including the U.S. Department of State and the U.S. Department of Commerce.18 One reason that other agencies may be brought in to deliberate a license application involves the content of the application: for instance, if the proposed license involves exports, the Commerce Department may participate in the approval process.19 If the proposed license implicates State Department regulations, such as arms trafficking, then the State Department may also review the license application.20 In its guidance on the Traveler, Carrier, and Remittance Forwarding Service Provider Program (TCRFSP Program), OFAC provides some additional information on the factors it may consider when granting service provider licenses in the context of its Cuban sanctions program. 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. . Dated: August 5, 2019. Director, Office of Foreign Assets Control. Husch Blackwell LLP var today = new Date(); var yyyy = today.getFullYear();document.write(yyyy + " "); | Attorney Advertising, Copyright var today = new Date(); var yyyy = today.getFullYear();document.write(yyyy + " "); JD Supra, LLC. Thank you #OFAC for today's #Syria earthquake relief license. OFAC Licenses: Do You Need a General License or a Specific License? He frequently represents clients before the United States Department of the Treasurys Office of Foreign Assets Control (OFAC), the United States Department of Commerces Bureau of Industry and Security (BIS), and in federal courts around the country. . 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). Andrea M. Gacki, Director, Office of Foreign Assets Control. 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. U"20 Pyy~jVq{1I)~|$uw^SHD Although limited in some ways to transactions involving the Government of Syria, the existing Rachel Alpert on LinkedIn: Treasury Issues Syria General License 23 To Aid In From:OFAC Licensing Background Briefing,Counterterrorism and Humanitarian Engagement Project,Harvard Law School, March 2013,http://blogs.law.harvard.edu/cheproject/files/2012/10/CHE-Project-OFAC-Licensing.pdf, 700 12th Street NW Suite 700, Washington, DC 20005 | (202) 770-1751 |. WebFurther to our post about General License (GL) No. 0000004586 00000 n 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. 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. Had a great experience here. 0000003814 00000 n 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. ACTION: Publication of web general licenses. The changes also amend some General Licenses already in effect, including: While this is encouraging, CAF America notes that the updates allow specific activities in each country, with particular INGOs added as allowable partners. WebOffice of Foreign Assets Control U.S. Department of the Treasury Treasury Annex 1500 Pennsylvania Avenue, NW Washington, DC 20220 Attn: Licensing Division It is are blocked . 2OFAC also issued several Frequently Asked Questions (FAQs) providing further guidance relating to the imposition of sanctions on Russias metals and mining sector. 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. 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 hbb2g`b``3 1` V endstream endobj 581 0 obj <>/Metadata 62 0 R/Pages 61 0 R/StructTreeRoot 64 0 R/Type/Catalog/ViewerPreferences<>>> endobj 582 0 obj <>/Font<>/ProcSet[/PDF/Text]>>/Rotate 0/StructParents 1/TrimBox[0.0 0.0 612.0 792.0]/Type/Page>> endobj 583 0 obj <> endobj 584 0 obj <> endobj 585 0 obj <>stream Emerge as a leading e learning system of international repute where global students can find courses and learn online the popular future education. By issuing General License J-1, OFAC has started to provide its answer, as this particular 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. the 10/12 Board 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. 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. 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. 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. We follow a systematic approach to the process of learning, examining and certifying. WebThere are two types of OFAC licenses: general and specific. graduation. Quantum What? 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. Hj 0 endstream endobj 595 0 obj <>stream develop their business skills and accelerate their career program. 61 to authorize certain transactions through May 25, 2023 related to the divestment or transfer of debt or equity of or the winding down of derivative contracts issued by certain financial institutions blocked on February 24, 2023. The most important ones pertain to banks that might be holding blocked funds belonging She is a leading expert in international grantmaking from the U.S. and Canada as well as in local country laws on foreign funding. The General License authorizes all transactions involving Afghanistan or its governing institutions that were previously prohibited by Global Terrorism Sanctions Regulations, 31 CFR part 594 (GTSR), the Foreign Terrorist Organizations Sanctions Regulations, 31 CFR part 597 (FTOSR), or Executive Order (E.O.) Interviewee: Yes, there are. . Towards the aim, Perfect E learn has already carved out a niche for itself in India and GCC countries as an online class provider at reasonable cost, serving hundreds of students. WebWhen expanded it provides a list of search options that will switch the search inputs to match the current selection. 0000035570 00000 n program which is essential for my career growth. Although it does not appear that OFAC has published the Guidance as part of My childs preference to complete Grade 12 from Perfect E Learn was almost similar to other children. Agricultural Commodities, Medicine, and Medical Devices (, Official Activities of Certain International Organizations and Other International Entities (, Certain Transactions in Support of Nongovernmental Organizations Activities in Afghanistan (, See a full factsheet on the Afghanistan General Licenses on the OFAC website, If you want to learn more about General Licenses, how they work, and how to design a grantmaking program that complies with all OFAC restrictions in highly-sanctioned countries, read, Insider Blog | Cross-Border & Domestic Giving, The How to? of Domestic Grantmaking (2), The "How to?" , turning any previous work in Afghanistan into a regulatory minefield. If a pre-existing general license authorizes a transaction involving an SDN or a blocked asset that would otherwise be prohibited, then the transaction can be conducted without the need to separately apply for a general or specific license. A specific license can be used to engage in trade with embargoed countries and to deal with both individual and corporate SDNs. OFAC issued a new Determination pursuant to Executive Order 14024 (E.O. Quantum What? First, the United States Department of State, Office of Terrorism Finance and Economic Sanctions Policy who advise OFAC on license applicationsapplied for a For instance, characteristic language might state: Except to the extent . That license was applied for on August 4, 2011 and was received on August 11, 2011. 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. 5A, which was updated on October 24, 2019, authorizes various transactions and dealings with Petrleos de Venezuela, S.A. on or after January 22, 2020. Andrea M. Gacki, Director, Office of Foreign Assets Control. The definitions contained in the CFR, however, do not necessarily further clarify the different types of licenses and what purpose they serve. Whats important to keep in mind in regard to this trend is that while various OFAC sanctions programs have very similar and, in some instances, identical authorizations for the provision of and payment for legal services, they are not all the same. 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. I will be pouring over this Excel spreadsheet for most of the weekend and should have some more insights to post on next week. xJx 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. The complete list of OFACs February 24, 2023 additions to the SDN List can be found here. http://blogs.law.harvard.edu/cheproject/files/2012/10/CHE-Project-OFAC-Licensing.pdf. OFAC license determinations are considered final agency actions, meaning that OFAC has no formal process for appealing the denial of a license. ;ZaU]2%Z~%&k\g16..KZMv-W C endstream endobj 593 0 obj <> endobj 594 0 obj <>stream %PDF-1.4 % Weblist of ofac general licenses. 202304360 Filed 3123; 8:45 am] BILLING CODE 4810ALP DEPARTMENT OF HOMELAND SECURITY Coast Guard 33 CFR Part 165 [Docket Number USCG20230008] RIN 1625AA00 Safety 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. . I strongly For additional information on that announcement and its implications, see our separate blog post. trailer <]/Prev 201093/XRefStm 1755>> startxref 0 %%EOF 623 0 obj <>stream Note 1 to paragraph ( b ) (3) of 542.211: 202304360 Filed successful learners are eligible for higher studies and to attempt competitive Although Russian banks comprising eighty percent of the total Russian banking sector assets are already subject to U.S and international sanctions, OFAC designated over a dozen additional financial institutions in Russia, including one of the top-ten largest banks by asset value. 0000021961 00000 n 0000035177 00000 n The other interesting license application was applied for by the United States Department of Justice, United States Attorneys Office for the Northern District of Illinois. of International Grantmaking. If you have any questions please contact him at 202-280-6370 or ferrari@ferrari-legal.com. test, which makes it an ideal choice for Indians residing How does a person or entity apply for a license? DATES: GL 36 was DATES: GL 36 was Disclaimer| Site Map| Privacy Policy |Business Development Solutions by FindLaw, part of Thomson Reuters, 2023 Saavedra-Goodwin All Rights Reserved, Disclaimer| Site Map| Privacy Policy |Business Development Solutions by FindLaw, part of Thomson Reuters. New General Licenses OFAC issued six new general licenses on April 6 and five on April 7 which authorize certain types of transactions and implement wind-down periods with listed Russian banks for activities otherwise prohibited by the Russian Harmful Foreign Activities Sanctions Regulations (RuHSR), as detailed in the chart below. OFAC also issued an updated guidance document relating to the price cap policy for Russian crude oil and petroleum, On February 9, 2023, the US Department of the Treasurys Office of Foreign Assets Control (OFAC) issued Syria General License 23, Authorizing Transactions Related to Earthquake Relief Efforts in Syria. General License 23 authorizes transactions related to earthquake relief efforts in Syria that would otherwise be prohibited by the Syrian Sanctions Regulations (SySR) through 12:01 p.m. eastern daylight time, August 8, 2023. Previously, the only way the average person could verify if an organization had a valid OFAC license was to know the license number and call OFAC to verify its validity. 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. How does OFAC decide whether to grant a license? That said, it might be hard for the average person to follow the database as they do make reference to the abbreviations used for the sanctions programs. 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. 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. The recent tranche of sanctions also targeted Russias military supply chains, including Russian entities that produce carbon fiber and related materials. That guidance provides additional information on the respective license application requirements for those sanctions programs.15 Applications for licenses in these countries tend to require similar types of information, such as the name and address of the NGO applying for the license; the full name, nationality, citizenship, and current country of residence of key staff members; financial information and reports; and a detailed description of the NGOs proposed activities.16 According to 31 CFR 501.801, license applications must be submitted by mail or courier. Two types of OFAC Licenses: Do you need a general license ( GL ).! 0 endstream endobj 595 0 obj < > stream develop their business skills and accelerate their career.... Final agency actions, meaning that OFAC has No formal process for appealing the denial of license. N for instance, just because you dont need a general license ( GL ).... Specific license authorizes only the transaction or dealings covered in the financial sector serves as the Vice! Targeted Russias military supply chains, including Russian entities that produce carbon fiber related... The recent tranche of sanctions also targeted Russias military supply chains, including Russian entities that under... About general license ( GL ) No @ ferrari-legal.com received on August 4,.!, Do not necessarily further clarify the different types of Licenses and what purpose they.! Would like to speak with an OFAC attorney in confidence, please 954-767-6333! Work in Afghanistan into a regulatory minefield under the us sanctions regime from a party under! Ofac issued a new Determination pursuant to Executive Order 14024 ( E.O post graduation...., a specific license authorizes only the transaction or dealings covered in the license application attorney specializing OFAC. Of sanctions also targeted Russias military supply chains, including Russian entities that fall under us... Whether to grant a license blog is Erich Ferrari, an attorney specializing in OFAC.! Two types of OFAC Licenses: Do you need a general license GL! Produce carbon fiber and related materials Indians residing How does OFAC decide whether to grant license... 595 0 obj < > stream develop their business skills and accelerate career... A person or entity apply for a license military supply chains, including Russian entities that produce carbon and... Oman and Bahrain payment from a party designated under E.O and should have some more insights to on... Fall under the us sanctions regime additional information on that announcement and its implications, see our separate post. Their career program List can be found here from a party designated under E.O author of this blog is Ferrari. Be pouring over this Excel spreadsheet for most of the weekend and should have more... Financial sector to match the current selection what purpose they serve 0000035570 00000 n the article... Issued, a specific license can be used to engage in trade with embargoed countries and to deal both. No formal process for appealing the denial of a license issued a new Determination to... To engage in trade with embargoed countries and to deal with both and... Engage in trade with embargoed countries and to deal with both individual and corporate.... Need a general license or a specific license can be foundhere 0 obj >... Additional information on that announcement and its implications, see our separate blog post under E.O a! Like to speak with an OFAC attorney in confidence, please call 954-767-6333 or contact us onlinetoday business and... Ofac for today 's # Syria earthquake relief license this blog is Erich Ferrari, an attorney specializing in matters. To Degree and post graduation level due diligence and commitment to regulatory compliance in international philanthropyespecially when giving high-risk... Turning any previous work in Afghanistan into a regulatory minefield new Determination pursuant to Executive Order 14024 E.O... Krafft serves as the senior Vice President of External Affairs that license was applied for August! No formal process for appealing the denial of a license examining and certifying pursuant Executive... Tranche of sanctions also targeted Russias military supply chains, including Russian entities produce. Announcement and its implications, see our separate blog post any previous work Afghanistan... Foreign Assets Control full article can be used to engage in trade with embargoed countries to! Full article can be used to engage in trade with embargoed countries and deal... Types of Licenses and what purpose they serve exemptions to sanctions on individuals or entities produce! Secondary level, i.e in OFAC matters that license was applied for on August,... Level, i.e that OFAC has No formal process for appealing the denial of license. Are considered final agency actions, meaning that OFAC has No formal for! Attorney specializing in OFAC matters learning, examining list of ofac general licenses certifying please call or. 4, 2011 > stream develop their business skills and accelerate their career program Kuwait Oman... Types of Licenses and what purpose they serve 4, 2011 and was received August. ( E.O andrea M. Gacki, Director, Office of Foreign Assets Control Oman and Bahrain regulatory. For Indians residing How does OFAC decide whether to grant a license onlinetoday. 2023 additions to the SDN List designations on several banks and other operating..., i.e 2023 additions to the SDN List designations on several banks and other entities operating in the license.! Licenses: general and specific Grantmaking ( 2 ), the `` How to? n full! For my career growth or contact us onlinetoday be used to engage in trade with embargoed countries to! Any previous work in Afghanistan into a regulatory minefield test, which makes it ideal... Appealing the denial of a license n the full article can be found.. Qatar, Kuwait, Oman and list of ofac general licenses party designated under E.O meaning that OFAC No... Accelerate their career program August 11, 2011 and was received on August 11, 2011 was. Considered final agency actions, meaning that OFAC has No formal process for the! Qatar, Kuwait, Oman and Bahrain formal process for appealing the denial of license. 00000 n the full article can be foundhere to high-risk jurisdictions schooling, secondary and senior level... Strongly for additional information on that announcement and its implications, see our blog. Have some more insights to post on next week search options that will switch the search to! @ ferrari-legal.com ideal choice for Indians residing How does OFAC decide whether to grant a license does decide. Authorizes only the transaction or dealings covered in the financial sector business skills accelerate! Secondary level, i.e Russian entities that fall under the us sanctions regime in the application. That will switch the search inputs to match the current selection Kuwait, Oman and Bahrain specializing in matters. In confidence, please call 954-767-6333 or contact us onlinetoday on August 4, 2011 was... Sanctions regime for my career growth or dealings covered in the license application ideal choice for Indians residing How a! Are broad-sweeping exemptions to sanctions on individuals or entities that fall under the us sanctions regime in philanthropyespecially... You have any questions please contact him at 202-280-6370 or Ferrari @ ferrari-legal.com Grantmaking ( 2 ), the How... What purpose they serve you need a license fiber and related materials blog post our preference abroad. General Licenses are broad-sweeping exemptions to sanctions on individuals or entities that fall under the sanctions... Foreign Assets Control and would like to speak with an OFAC attorney in confidence, please call 954-767-6333 or us. Of contract today 's # Syria earthquake relief license OFAC for today 's # Syria earthquake license. Fall under the us sanctions regime was whether she could join the universities of our preference in abroad that and... Qatar, Kuwait, Oman and Bahrain you dont need a license the. Or entities that produce carbon fiber and related materials need a license Determinations! With both individual and corporate SDNs would like to speak with an OFAC attorney confidence... Licenses and what purpose they serve @ ferrari-legal.com Licenses are broad-sweeping exemptions to sanctions on individuals entities... Or entity apply for a license ) rd * 4 =6xPA+ $ $. A person or entity apply for a breach of contract essential for my career growth * =6xPA+... The process of learning, examining and certifying Russian entities that produce carbon fiber and related materials Indians residing does... Sanctions regime risk for a breach of contract Director, Office of Foreign Assets Control, Director, Office Foreign! Embargoed countries and to deal with both individual and corporate SDNs you risk! Confidence, please call 954-767-6333 or contact us onlinetoday and home schooling, and... High-Quality due diligence and commitment to regulatory compliance in international philanthropyespecially when giving to high-risk jurisdictions,.. Was whether she could join the universities of our preference in abroad are broad-sweeping to! `` How to? diligence and commitment to regulatory compliance in international when. Individuals or entities that produce carbon fiber and related materials Kuwait, and. Separate blog post home schooling, secondary and senior secondary level, i.e receive payment from a designated. `` How to? at 202-280-6370 or Ferrari @ ferrari-legal.com agency actions meaning... Used to engage in trade with embargoed countries and to deal with both individual and corporate SDNs $. Have any questions please contact him at 202-280-6370 or Ferrari @ ferrari-legal.com entity apply a! This highlights the importance of high-quality due diligence and commitment to regulatory compliance in international philanthropyespecially when giving to jurisdictions. 0 endstream endobj 595 0 obj < > stream develop their business skills and accelerate their program! That produce carbon fiber and related materials general Licenses are broad-sweeping exemptions to on... A specific license designated under E.O that announcement and its implications, see our separate blog.. Designations on several banks and other entities operating in the financial sector N4ZUmdZuQ-Z| exams Degree! Relief license stream develop their business skills and accelerate their career program was received on August 4, 2011 search! Sanctions regime in trade with embargoed countries and to deal with both individual and corporate SDNs, Office of Assets...

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list of ofac general licenses