The Office of Foreign Assets Control announced the following sanctions action last week.
Belarus-related Sanctions
OFAC issues Belarus general license and updates sanctions measures: On March 26, OFAC issued Belarus General License 14, authorizing certain transactions involving Belinvestbank and related entities, and rescinded Directive 1 under Executive Order 14038 after determining the underlying prohibitions are no longer warranted. As part of these changes, OFAC archived Belarus General License 13 and removed numerous Belarusian companies—including Belaruskali and the Belarusian Potash Company—from the SDN List. Read more.
Venezuela-related Sanctions
OFAC issues Venezuela-related general license 53: OFAC issued Venezuela‑related General License 53, authorizing certain transactions to support official missions of the Government of Venezuela to the United States and international organizations in the U.S. The license permits the provision of goods and services for official business or personal use of mission employees, as well as related financial services, subject to specified limitations. Read more.
OFAC issues Venezuela‑related general licenses for minerals sector: OFAC issued Venezuela‑related General Licenses 51A, 54, and 55, authorizing certain activities involving Venezuelan‑origin minerals, including gold, the supply of specified items and services for minerals operations, and negotiations and entry into contingent contracts for approved investments in the sector. These actions provide limited sanctions relief for specified minerals‑related activities, subject to the terms of each license. Read more.
Human Rights Abuse Designations and Russia-related Sanctions
OFAC removes individuals and entities from SDN List: On March 27, OFAC announced the removal of Ukrainian national Andriy Portnov and his associated charitable organization from the SDN List, where they had been designated under the Global Magnitsky program. OFAC also removed several Russia‑related designees, including individuals previously listed under Executive Order 14024. Read more.
