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1033. What actions were taken on May 8, 2022 related to certain accounting, trust and corporate formation, and management consulting services?
On May 8, 2022, the Director of OFAC, in consultation with the Department of State, issued a determination pursuant to Executive Order (E.O.) 14071, "Prohibitions Related to Certain Accounting, Trust and Corporate Formation, and Management Consulting Services," prohibiting the exportation, reexportation, sale, or supply, directly or indirectly, from the United States, or by a United States person, wherever located, of certain accounting, trust and corporate formation, and management consulting services to any person located in the Russian Federation. This determination takes effect June 07, 2022. For more information, please see FAQ 1034.
On May 08, 2022, the Director of OFAC, in consultation with the Department of State, also issued a sectoral determination pursuant to E.O. 14024 that authorizes the imposition of economic sanctions on individuals...
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1) This is a standard "action overview" FAQ, it does not provide guidance as to the scope and operation of the legal provisions referenced.
2) FAQ amended on 9-16-22 to substitute "prohibiting U.S. persons from providing, directly or indirectly," which is essentially a paraphrasing of the prohibition of the determination, with "prohibiting the exportation, reexportation, sale, or supply, directly or indirectly, from the United States, or by a United States person, wherever located, of," which is a word-for-word reproduction of the determination language.
3) See General Note on E.O. 14071-Based Prohibitions on the Exportation of Certain Services to Persons Located in Russia (System Ed. Note) for comments on the relevant prohibitions in general.
4) FAQ amended on 9-12-24 to add the last paragraph, cross-referencing the Determination Pursuant to Section 1 (a)(ii) of...