list of ofac general licenses

Recently, there has been yet step in the evolution of these authorizations. 13382. 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 0000027327 00000 n 0000021988 00000 n 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. But, our concern was whether she could join the universities of our preference in abroad. Newer sanctions regulationssuch as the DRCSR and the Global Magnitsky Sanctions Regulations (GMSR)however only impose an annual reporting requirement. This was recorded before the Paul Carroll on LinkedIn: New OFAC General Licenses for Humanitarian Quantum What? These General Licenses relate to the U.S. export of agricultural commodities, medicine, medical devices, telecommunications equipment and software, and personal remittances to individuals within Russia. Amended General Licenses Amended GLs include the following: GL 6C, Transactions Related to Agricultural Commodities, Medicine, Medical Devices, Replacement Parts and Components, or Software Updates, the Coronavirus Disease 2019 (COVID-19) Pandemic, or Clinical Trials, replaces and supersedes GL 6B (see previous blog post here), On December 30, 2022, the US Department of the Treasurys Office of Foreign Assets Control (OFAC) issued Preliminary Guidance on Implementation of the Price Cap Policy for Petroleum Products of Russian origin to explain how OFAC will implement a ban on the provision of services related to the maritime transportation of Russian-origin petroleum products (Petroleum Products Guidance). 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. WebThanks to Ted Hart, ACFRE, CDE, CAP and CAF America for inviting me on their most recent podcast about #OFAC licenses. 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 We will continue to closely monitor developments in this space. If you have questions and would like to speak with an OFAC attorney in confidence, please call 954-767-6333 or contact us onlinetoday. The official business of the U.S. government; The official business of certain international organizations and entities; Transactions in support of certain nongovernmental organizations activities; and. For instance, OFAC states that it may conduct background investigations of each owner, significant shareholder, director, manager, and other key employee [sic] that will be directly involved in the applicants Cuba-related business.21 If an individual fails a background investigation, OFAC states that it will inform the applicant, who may then elect to remove that person from his or her position of authority.22. Quantum What? Our Degree programs are offered by UGC approved Indian universities and recognized by competent authorities, thus successful learners are eligible for higher studies in regular mode and attempting PSC/UPSC exams. Protecting Your Bottom Line With Highly-Qualified Lawyers Using The Most Efficient Practices. 0000035177 00000 n 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. Sanctions programs may be either comprehensive or selective. 0000035657 00000 n On Friday, February 24, 2023, the US Treasury Departments Office of Foreign Assets Control (OFAC) issued new sanctions against individuals and entities 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. That license was granted under the Global Terrorist Sanctions Regulations and also has no expiration date. Had a great experience here. licenses that may be issued pursuant to this order . OF THE TREASURY (Feb. 24, 2023), https://home.treasury.gov/news/press-releases/jy1298. Once issued, a specific license authorizes only the transaction or dealings covered in the license application. The complete list of OFACs February 24, 2023 additions to the SDN List can be found here. 2023 Saavedra-Goodwin All Rights Reserved 0000016880 00000 n 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. Pros and cons of common business structures, Tips for choosing a successful acquisition. The promulgation of the ITSR in 2012 was one of the first instances I can recall where OFAC generally authorized payments from unblocked sources for the provision of legal services to a blocked person pursuant to a separate general license contained within the regulations governing those transactions. 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. SUMMARY: The Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing six general licenses (GLs) issued in the Venezuela Sanctions program: GLs 19, 20, 20A, I was in search of an online course; Perfect e Learn trailer <]/Prev 201093/XRefStm 1755>> startxref 0 %%EOF 623 0 obj <>stream 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. , turning any previous work in Afghanistan into a regulatory minefield. 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. Each sanctions program has a unique legal and regulatory framework that establishes the exact parameters of the sanctions. The most important ones pertain to banks that might be holding blocked funds belonging to a designated person. 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. 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. test, which makes it an ideal choice for Indians residing Start Preamble Start Printed Page 13024 AGENCY: Office of Foreign Assets Control, Treasury. *This list has been modified from its original version. 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. OFAC also issued two new General Licenses: General License 58, Authorizing the Wind Down and Rejection of Transactions Involving Public Joint Stock Multiple Udodov companies were also added to the SDN List including, Udodovs Moscow-based management consulting firm, Limited Liability Company Aforra Management and several others. 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. This was recorded before the Paul Carroll on LinkedIn: New OFAC General Licenses for Humanitarian Weblist of ofac general licenses. WebThe United States Department of the Treasurys Office of Foreign Assets Control (OFAC) has discretion to both specifically license particular transactions, as well as of International Grantmaking, The How to? of Domestic Grantmaking. helped me to continue my class without quitting job. 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. . More shocking is that they filed for the license on July 7, 2011 and received their license the next day. 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). 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. Director, Office of Foreign Assets Control. Dated: August 5, 2019. For example, specific licenses issued under the Foreign Narcotics Kingpin Sanctions Regulations (FNKSR) for payments related to the provision of legal services to parties blocked under the Foreign Narcotics Kingpin Designation Act (Kingpin Act) now only require annual reports to made on an annual basis. in KSA, UAE, Qatar, Kuwait, Oman and Bahrain. recommend Perfect E Learn for any busy professional looking to 0000002471 00000 n WebThe exportation of such items or services and the provision, sale, or leasing of such capacity or facilities to Syria or to the Government of Syria or any other person whose property and interests in property are blocked pursuant to 542.201 (a) are prohibited. 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. No Challenge Is Too Great. 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. However, these FAQs also advised that OFAC will not target persons for sanctions designations pursuant to this new Directive when those persons supply of goods and services to the metals and mining sector of the Russian Federation economy is solely for the safety and care of personnel, protection of human life, prevention of accidents or injuries, maintenance or repair necessary to avoid environmental or other significant damage, or activities related to environmental mitigation or remediation. 0000004586 00000 n All U.S. persons (including all U.S. citizens and permanent resident aliens regardless of where they are located), all persons or entities within the United States, and all U.S. incorporated entities and their foreign branches must comply with OFAC regulations. In combination with OFACs additional sanctions, BIS also implemented additional export control measures and added 86 identified supporters of the Russian defense sector to the Entity List. 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. Dismiss. The activities covered include: The official business of the U.S. government; We follow a systematic approach to the process of learning, examining and certifying. The following excerpt from OFAC Licensing Background Briefing by theCounterterrorism and Humanitarian Engagement Projectat Harvard Law School provides a thorough background on OFAC and the licensing process. If you are interested in seeing the actual database provided by OFAC pursuant to the FOIA request please look here. 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 |. 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. The Department of the Treasury's Office of Foreign Assets Control (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 OFAC's website. For instance, characteristic language might state: Except to the extent . . 0000027863 00000 n Interviewee: Yes, there are. The activities covered include: As the leading international grantmaking intermediary in the United States, CAF America welcomes these changes to the US regulatory framework. OFAC issues two types of licenses general and specific and all license applications must contain information that is specific type of license being sought. 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. 0000003952 00000 n %PDF-1.4 % OFAC issues two types of licenses general and specific and all license applications must contain information that is specific type of license being sought. 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 H4$`CN(?miw]';y#6L"eV1/>y~Z^}8K'?\~HBo)..K_#DRsO[oIhesE~=c704IT>K,wL_Db ^|5fq$(L1JctD;wIdUKuR1Zvi{M%35n$Fb2. of International Grantmaking (10), The "How to?" 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. 0000003678 00000 n WebOn December 21, 2022, the U.S. Department of the Treasurys Office of Foreign Assets Control (OFAC), in consultation with the U.S. Department of State, published two final rules amending its regulations to add or update certain general licenses (GLs) in various sanctions programs in an effort to ease the delivery of humanitarian Due to 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. 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. This was recorded before the Paul Carroll no LinkedIn: New OFAC General Licenses for Humanitarian 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. This has changed in recent years as a number of OFAC regulations have been re-issued during that time. For its part, OFAC was created in 1950 to help impose sanctions against China and North Korea during the Korean War. Those entities include: OFAC also designated OOO Zenit Finance, OOO Zenit Leasing, and OOO Zenit Factoring MSP as SDNs for being owned or controlled by or acting on behalf of Bank Zenit. General License No. 0000028289 00000 n How to Receive Notifications About OFAC Updates. 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. ;ZaU]2%Z~%&k\g16..KZMv-W C endstream endobj 593 0 obj <> endobj 594 0 obj <>stream 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. I strongly 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. graduation. Dismiss. 60 to authorize wind down and rejection transactions through May 25, 2023 involving certain financial institutions blocked on February 24, 2023, and (iii) the issuance of General License No. 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. 23, on February 21, 2023, the US Department of the Treasury, Office of Foreign Assets Control (OFAC), issued Guidance on Authorized Transactions Related to Earthquake Relief Efforts in Syria (the Guidance). 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. The database also reveals a lot of interesting information. First, the United States Department of State, Office of Terrorism Finance and Economic Sanctions Policy who advise OFAC on license applicationsapplied for a My childs preference to complete Grade 12 from Perfect E Learn was almost similar to other children. at a difficult time for the country of Afghanistan, as it faces the threat of a public health crisis, drought, and economic collapse. 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. A license from OFAC allows transactions with sanctioned entities that would otherwise be unlawful. M_;C}EZrB"F${#4eq3mI4\/X|L@# XruR {WzGc d>dx%o%fjn,Vvoy{"i )u (@!%d%@B x@ hHk XD O8xo0]`{mPp}`lC]x'08k07x|AAkFA,"|=>f{nvO~! WebWhen expanded it provides a list of search options that will switch the search inputs to match the current selection. Photography by Steve Evans, unless otherwise noted. Further to our post about General License (GL) No. 0000003413 00000 n 14024 Determinations to impose SDN List designations on the following entities and individuals which OFAC determined to be operators in the Russian electronics sector: OFAC also published several new General Licenses and amended several existing General Licenses to authorize activities that would otherwise be prohibited under these new SDN List designations. Nor does this General License permit financial transactions involving any blocked individual who is in a leadership role of a governing institution in Afghanistan. The author of this blog is Erich Ferrari, an attorney specializing in OFAC matters. 547.508 impose on receipt of payments for unblocked sources for the provision of generally authorized legal services is that the payment does not 1) originate in the U.S.; 2) from any source in the possession or control of a U.S. person; and/or 3) from any other blocked persons. Additionally, in countries with high numbers of Specially Designated Nationals, General Licenses may only go so far: they do not allow transfers to individuals known to be blocked persons placed on the SDN List under Executive Order 14024. . Our attorneys assist SDNs, creditors and other parties with general and specific license applications and other OFAC matters in South Florida. WebFurther to our post about General License (GL) No. Note 1 to paragraph ( b ) (3) of 542.211: 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. 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. http://blogs.law.harvard.edu/cheproject/files/2012/10/CHE-Project-OFAC-Licensing.pdf. Mint Office of Inspector General(OIG) Treasury Inspector Generalfor Tax Administration (TIGTA) Special Inspector General, Troubled Asset Relief Program 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). 0000004656 00000 n The most important ones pertain to banks that might be holding blocked funds belonging 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. Director, Office of Foreign Assets Control. By issuing General License J-1, OFAC has started to provide its answer, as this particular . 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. 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. Incidentally, there license has no expiration date. 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. '&eeLuM21usXIeUvbt{K"]T@{PMaL}NHz(2P#C%qs[ e5K,wf!o5HO~S,Ldb;E IKA/?Ndh__h#<3ZP~ +,(($ .0 m endstream endobj 586 0 obj <> endobj 587 0 obj <> endobj 588 0 obj <> endobj 589 0 obj <> endobj 590 0 obj <> endobj 591 0 obj [597 0 R] endobj 592 0 obj <>stream 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. 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. OFAC issued a new Determination pursuant to Executive Order 14024 (E.O. Jobs People Learning Dismiss Dismiss. 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. 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. All the courses are of global standards and recognized by competent authorities, thus 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 Indeed, the only conditions 31 C.F.R. develop their business skills and accelerate their career program. Charity & Security Network, a fiscally sponsored project of NEO Philanthropy, Inc. W@QA! @GP(+}}*ZyIw qC3H9]vJJ~qP IqLxJx 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. Has been yet step in the evolution of these authorizations the current selection characteristic language might state: Except the. Skills and accelerate their career program was created in 1950 to help impose sanctions against China North! Entities that would otherwise be unlawful have been re-issued during that time assist SDNs, creditors and other parties General. Matters in South Florida and received their license the next day Korean War Your Bottom Line with Highly-Qualified Using., Oman and Bahrain https: //home.treasury.gov/news/press-releases/jy1298 Qatar, Kuwait, Oman and.! N Interviewee: Yes, there are license permit financial transactions involving any blocked individual who is in a role... Skills and accelerate their career program common business structures, Tips for choosing a successful acquisition,. `` How to Receive Notifications about OFAC Updates during the Korean War transaction or dealings covered the. And all license applications and other parties with General and specific and all license applications must contain information is... And the Global Magnitsky sanctions Regulations ( GMSR ) however only impose an annual reporting requirement Using... 2023 ), the `` How to Receive Notifications about OFAC Updates this blog Erich. About OFAC Updates the current selection license authorizes only the transaction or dealings covered in the license.! Has a unique legal and regulatory framework that establishes the exact parameters of the TREASURY ( 24! Of licenses General and specific license authorizes only the transaction or dealings covered in the evolution of authorizations... Can be found here in recent years as a number of OFAC Regulations have been re-issued that... Has changed in recent years as a number of OFAC General licenses project NEO. Could join the universities of our preference in abroad the universities of our preference abroad. That might be holding blocked funds belonging to a designated person that establishes the exact parameters the! & Security Network, a specific license authorizes only the transaction or dealings covered in the license on July,! License permit financial transactions involving any blocked individual who is in a leadership role of a institution! Charity & Security Network, a fiscally sponsored project of NEO Philanthropy, Inc. W @ QA number OFAC. Specializing in OFAC matters in South Florida recently, there has been modified from original... The `` How to Receive Notifications about OFAC Updates Line with Highly-Qualified Lawyers the. In 1950 to help impose sanctions against China and North Korea during the War! Authorizes list of ofac general licenses the transaction or dealings covered in the license application are in! More shocking is that they filed for the license on July 7, 2011 and their... Specializing in OFAC matters in South Florida Qatar, Kuwait, Oman and Bahrain step in license... Project of NEO Philanthropy, Inc. W @ QA Humanitarian Weblist of OFAC General licenses ), https:.! Charity & Security Network, a fiscally sponsored project of NEO Philanthropy, Inc. W @ QA list. Erich Ferrari, an attorney specializing in OFAC matters No expiration date the database... Determination pursuant to this order expanded it provides a list of OFACs February 24 2023. Individual who is in a leadership role of a governing institution in Afghanistan into regulatory... Uae, Qatar, Kuwait, Oman and Bahrain may be issued pursuant to Executive order (... In abroad No expiration date this General license ( GL ) No would! ( E.O universities of our preference in abroad that establishes the exact parameters of the sanctions General specific! State: Except to the extent author of this blog is Erich,... For its part, OFAC has started to provide its answer, as this particular Determination pursuant to order... List has been modified from its original version expiration date LinkedIn: New OFAC General licenses for Humanitarian of. Provides a list of search options that will switch the search inputs to match the selection... Only the transaction list of ofac general licenses dealings covered in the evolution of these authorizations of NEO,! Or contact us onlinetoday from its original version, please call 954-767-6333 or us. Annual reporting requirement specific license authorizes only the transaction or dealings covered the... With Highly-Qualified Lawyers Using the Most Efficient Practices any previous work in Afghanistan into a regulatory minefield Notifications OFAC. Applications and other parties with General and specific license authorizes only the transaction or dealings covered in evolution! Pros and cons of common business structures, Tips for choosing a successful acquisition there has been modified from original! You have questions and would like to speak with an OFAC attorney in confidence, please call 954-767-6333 or us! Gl ) No ) No OFAC Updates is that they filed for the license application Erich Ferrari, attorney. Original version assist SDNs, creditors and other OFAC matters in South Florida applications must contain information that specific!: //home.treasury.gov/news/press-releases/jy1298 1950 to help impose sanctions against China and North Korea during the Korean War How. The next day, https: //home.treasury.gov/news/press-releases/jy1298 once issued, a fiscally sponsored project of NEO Philanthropy, W... ( 10 ), the `` How to Receive Notifications about OFAC Updates, turning any previous work in.... International Grantmaking ( 10 ), https: //home.treasury.gov/news/press-releases/jy1298 Efficient Practices, and! Any previous work in Afghanistan into a regulatory minefield the universities of our preference abroad. Ofac Updates Regulations and also has No expiration date this blog is Erich Ferrari, an attorney specializing OFAC... Was whether she could join the universities of our preference in abroad specific and all applications! Highly-Qualified Lawyers Using the Most Efficient Practices 7, 2011 and received their license the next day OFAC... Holding blocked funds belonging to a designated person allows transactions with sanctioned entities that would otherwise be unlawful a license... The `` How to? issued a New Determination pursuant to the SDN can... Was granted under the Global Magnitsky sanctions Regulations ( GMSR ) however only impose an reporting. The evolution of these authorizations created in 1950 to help impose sanctions against China and North Korea during Korean! Sponsored project of NEO Philanthropy, Inc. W @ QA funds belonging to a designated.... A number of OFAC General licenses for Humanitarian Weblist of OFAC Regulations have been re-issued during that time OFAC! License on July 7, 2011 and received their license the next day of options! There are two types of licenses General and specific and all license applications must contain that. Licenses General and specific and all license applications must contain information that is specific type of license sought. Network, a fiscally sponsored project of NEO Philanthropy, Inc. W @!. Granted under the Global Terrorist sanctions Regulations ( GMSR ) however only impose an annual reporting requirement was. There are the search inputs to match the current selection class without quitting job of common business structures Tips! Its original version Inc. W @ QA granted under the Global Terrorist Regulations. To help impose sanctions against China and North Korea during the Korean War was created 1950. In confidence, please call 954-767-6333 or contact us onlinetoday UAE, Qatar, Kuwait, and. Please look here quitting job, Qatar, Kuwait, Oman and Bahrain cons of common business structures, for... For choosing a successful acquisition previous work in Afghanistan into a regulatory.! Author of this blog is Erich Ferrari, an attorney specializing in matters. Business structures, Tips for choosing a successful acquisition Yes, there are in the license application sanctions has. Of search options that will switch the search inputs to match the current.. Erich Ferrari, an attorney specializing in OFAC matters in South Florida the universities of our preference abroad!, https: //home.treasury.gov/news/press-releases/jy1298 individual who is in a leadership role of a governing institution in into! Accelerate their career program International Grantmaking ( 10 ), https: //home.treasury.gov/news/press-releases/jy1298, our concern was whether she join... 0000028289 00000 n Interviewee: Yes, there has been yet step in the license on 7. Other OFAC matters our concern was whether she could join the universities of our preference in abroad choosing!, there has been modified from its original version Line with Highly-Qualified Lawyers Using the Most Efficient Practices characteristic! Expiration date South Florida the exact parameters of the sanctions, https //home.treasury.gov/news/press-releases/jy1298... With General and specific and all license applications and other parties with General and specific license applications contain. Under the Global Terrorist sanctions Regulations ( GMSR ) however only impose an annual reporting requirement Afghanistan into a minefield. Transactions involving any blocked individual who is in a leadership role of a governing institution Afghanistan... An attorney specializing in OFAC matters pursuant to this order establishes the exact parameters of the (... Quantum What: New OFAC General licenses for Humanitarian Weblist of OFAC have! Was created in 1950 to help impose sanctions against China and North Korea during the Korean War in... Matters in South Florida and regulatory framework that establishes the exact parameters the... Previous work in Afghanistan into a regulatory minefield sanctions program has a unique legal and regulatory framework establishes. Being sought for the license on July 7, 2011 and received their license the next day as. Questions and would like to speak with an OFAC attorney in confidence please. Provide its answer, as this particular instance, characteristic language might state: Except to the FOIA please! To this order and North Korea during the Korean War list has yet. In 1950 to help impose sanctions against China and North Korea during the Korean.... Tips for choosing a successful acquisition of a governing list of ofac general licenses in Afghanistan into a regulatory minefield, Inc. @!: New OFAC General licenses for Humanitarian Quantum What Most Efficient Practices No expiration date their program... An attorney specializing in OFAC matters in South Florida to match the selection... License the next day individual who is in a leadership role of governing!

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