Hours before its expiration, OFAC extended and re-issued General License 8 as General License 8F on April 21, 2020. The new General License implements significant changes in US sanctions policy with ...

“Treasury is preparing to take action to wind-down General License 41 and other specific licenses as appropriate,” the Office of Foreign Asset Control (OFAC) said in a brief statement, adding that it ...

Economic sanctions compliance in the United States runs on a strict-liability standard. In plain terms: you don’t have to mean to violate sanctions to be in violation. For businesses, banks, ...

Indian refiner Reliance Industries Ltd. has received a general license from the US government that will allow it to purchase Venezuelan oil directly, according to a person familiar with the matter.