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
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.
