May 26, 2022

OFAC issues Russia-related general license 13A

On May 25, 2022, the US Department of the Treasury’s Office of Foreign Assets Control issued General License 13A pursuant to Russian Harmful Foreign Activities Actions Regulations, 31 CFR part 587.  GL 13A temporarily authorizes certain administrative transactions, including the payment of taxes/fees/import duties and the purchase or receipt of permits licenses, registrations or certifications, which would otherwise be prohibited by Directive 4 issued under Executive Order 14024.  The transactions are allowed if they facilitate the “day-to-day operations” of US persons or entities in the Russian Federation.  GL 13A expires on September 30, 2022, and effectively replaces and supersedes GL 13.

Directive 4 was issued under EO 14024 by OFAC to prohibit US person from engaging in transactions involving the Central Bank of the Russian Federation, the National Wealth Fund of the Russian Federation, and the Ministry of Finance of the Russian Federation, and the transfer of assets to these entities or on their behalf, without first obtaining a license or authorization from OFAC.

Department of Treasury Recent Action | General License 13A | EO 14024 – Directive 4