OFAC has designated almost 400 individuals and entities. The designations target Russian financial technology; procurement networks; the Russian domestic war economy; and Russia’s strategic metals and mining sector.
Alongside the designations, OFAC released 5 new Russia-related general licences:
- Russia-related General License 103, authorising transactions related to imports of certain diamond jewellery prohibited by Executive Order 14068;
- Russia-related General License 104, authorising transactions related to imports of certain diamonds prohibited by Executive Order 14068;
- Russia-related General License 105, authorising limited safety and environmental transactions and the unloading of cargo involving certain blocked persons or vessels;
- Russia-related General License 106, authorising the wind down of transactions involving certain entities blocked on August 23, 2024; and
- Russia-related General License 107, authorising limited safety and environmental transactions involving certain blocked persons or vessels.
OFAC also released FAQ 1189 and updated FAQ 1165 and FAQ 1166. All 3 FAQs relate to the prohibitions on diamonds and reflect the changes brought in by the addition of GL 103 and GL 104.