Iran-related Designation; Issuance of Amended Venezuela-related General License and Frequently Asked Question
Important: This summary was automatically generated by AI from a public-domain government source. It is provided for general information only. It is not legal, compliance, or professional advice and may contain errors, omissions, or out-of-date information. Where IMO numbers appear in the summary, they may be hyperlinked to the corresponding entry in our sanctioned-vessels database for convenience, these links are direct citations, not editorial assertions. Always verify against the official source before making any compliance, commercial, or legal decision. Read our news policy.
Key facts
Source:US Treasury OFAC (U.S. Government work, public domain)
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has announced several updates to its sanctions programs. The agency issued Venezuela-related General License 52C, which provides authorization for specific transactions involving Petróleos de Venezuela, S.A. Additionally, OFAC released an amendment to a frequently asked question regarding Venezuelan sanctions.
The Treasury Department also updated its Specially Designated Nationals and Blocked Persons List and the Sectoral Sanctions Identifications List. These updates include changes to the registration and identification details for VTB Bank Public Joint Stock Company, a Russian financial institution.
The updates to the designation of VTB Bank include a comprehensive list of its various former names and aliases, such as Bank for Foreign Trade of RSFSR and Bank Vneshei Torgovli OAO. The announcement also notes the bank's various international branches and addresses located in Russia, China, and India.
The sanctions actions against the Russian bank are linked to several regulatory frameworks, including Executive Order 13662 and the Ukraine-/Russia-Related Sanctions Regulations. The designation also highlights secondary sanctions risks associated with Executive Order 14024.
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