Cuba Designation; Russia-related Designations Removals and Designation Update; Issuance of Amended Russia-related General Licenses and Frequently Asked Questions
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Key facts
Source:US Treasury OFAC (U.S. Treasury, public domain)
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has announced several updates to its sanctions programs, including new designations and modifications to existing licenses. Under the Cuba-related sanctions program (EO 14404), the state-owned enterprise Union Cuba Petroleo (CUPET) has been added to the Specially Designated Nationals and Blocked Persons List.
Regarding Russia-related sanctions under Executive Order 14024, OFAC has removed Sergey Aleksandrovich Maltsev and Olga Borisovna Raykes (also known as Olga Borisovna Raikes) from the SDN List. Additionally, the agency updated the listing for the Austrian-based company Vend Ore GmbH to reflect changes in its associated individuals.
The Treasury Department also issued updated regulatory guidance concerning Russia. This includes the issuance of amended General Licenses 55F, which pertains to certain services related to Sakhalin-2, and 115D, which covers specific transactions involving existing civil nuclear energy projects.
Finally, OFAC implemented administrative updates to its regulatory framework by amending eight Russia-related Frequently Asked Questions (FAQs). These updates cover a range of technical queries, specifically FAQs 967, 978, 999, 1011, 1117, 1182, 1203, and 1216.
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