Recent news from Treasury’s Office of Foreign Assets Control: March 9

The Office of Foreign Assets Control announced the following sanctions action last week.

Russia-related Sanctions

OFAC removes entity from SDN List: On March 6, OFAC removed Globe Trekkers LLC, a Dubai‑based entity, from the SDN List, lifting its designation under Russia‑related Executive Order 14024. Read more.

OFAC issues new Russia General License and updates Venezuela FAQ: On March 5, OFAC issued Russia‑related General License 133 authorizing the delivery and sale of Russian‑origin crude oil and petroleum products loaded on vessels as of March 5, 2026, to India, and also amended Venezuela‑related FAQ 1238 regarding the resale of Venezuelan‑origin oil to Cuba. Read more.

Congo-related Sanctions

OFAC sanctions Rwanda Defence Force; issues wind‑down license: OFAC sanctioned the Rwanda Defence Force and four senior officials for supporting the M23 armed group, enabling territorial seizures, human rights abuses, and mass displacement in eastern Democratic Republic of the Congo. Related to this action, OFAC issued General License No. 1 authorizing limited wind‑down transactions involving the RDF through April 1, 2026. Read more.

Venezuela-related Sanctions

OFAC authorizes limited transactions involving Venezuelan‑origin gold: On March 6, OFAC issued General License No. 51 under the Venezuela Sanctions Regulations, authorizing certain U.S. entities to engage in the importation, refining, and resale of Venezuelan‑origin gold, subject to strict conditions, reporting requirements, and exclusions involving certain countries, entities, and activities. The license does not authorize mining or production in Venezuela and requires detailed transaction reporting to the U.S. government. Read more.

OFAC issues new Venezuela‑related FAQs: On March 4, OFAC released six new Venezuela‑related Frequently Asked Questions (FAQs 1239–1244), providing updated guidance on sanctions and related compliance considerations. Read more.