The OverRuled: Russia Trade Controls Resource Center has been updated with the following actions:
- 01 Oct 2024 (OFAC):
The Akin Summary document has now been posted for this action.
The U.S. Department of the Treasury's Office of Foreign Assets Control ("OFAC") designated two entities and one individual pursuant to Russia-related Executive Order ("E.O.") 14024, as part of a tri-lateral action with the United Kingdom's Foreign, Commonwealth & Development Office and Australia's Department of Foreign Affairs and Trade, targeting the Russia-based cybercriminal group Evil Corp.
- 30 Sep 2024 (OFAC):
The Akin Summary document has now been posted for this action.
The U.S. Department of the Treasury's Office of Foreign Assets Control ("OFAC") issued General License ("GL") 13K, which extends the authorization of certain administrative transactions prohibited by Directive 4 under E.O. 14024, until 12:01 a.m. Eastern Standard Time on January 8, 2025.
- 26 Sep 2024 (OFAC):
The Akin Summary document has now been posted for this action.
The U.S. Department of the Treasury's Office of Foreign Assets Control ("OFAC") designated one entity and one individual pursuant to Russia-related Executive Order ("E.O.") 14024, as part of a coordinated international effort to disrupt Russian cybercrime services. In conjunction with these designations, the U.S. Department of the Treasury's Financial Crimes Enforcement Network ("FinCEN") issued an order that identifies PM2BTC—a Russian virtual currency exchanger—as being of "primary money laundering concern" in connection with Russian illicit finance.
- 24 Sep 2024 (OFAC):
The Akin Summary document has now been posted for this action.
The U.S. Department of the Treasury's Office of Foreign Assets Control ("OFAC") issued three new FAQs (1193, 1194, and 1195) interpreting the exclusion from the "Information Technology (IT) and Software Services Determination" for "any service to an entity located in the Russian Federation that is owned or controlled, directly or indirectly, by a U.S. person".
- 19 Sep 2024 (OFAC):
The Akin Summary document has now been posted for this action.
The U.S. Department of the Treasury’s Office of Foreign Assets Control ("OFAC") designated five entities and one individual pursuant to Russia-related Executive Order ("E.O.") 14024 that have enabled and supported efforts to establish illicit payment mechanisms between Russia and the Democratic People’s Republic of Korea.
- 13 Sep 2024 (OFAC):
The Akin Summary document has now been posted for this action.
The U.S. Department of the Treasury's Office of Foreign Assets Control ("OFAC") designated two individuals and three entities pursuant to Russia-related Executive Order ("E.O.") 14024.
Concurrently, OFAC issued General License ("GL") 109, which authorizes the wind down of transactions involving certain entities blocked on September 13, 2024, through 12:01 a.m. Eastern Standard Time on November 13, 2024.
OFAC also issued amended GL 25F, which adds certain additional entities with which certain transactions related to telecommunications and internet-based communications are not authorized under the GL.
Lastly, OFAC also amended FAQ 1040 to reflect the changes in GL 25F.
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