OFAC FAQ (Current) # 1060 - Russian Harmful Foreign Activities Sanctions

Date issued: Jun. 09 2022

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TURBOFAC Commentary (430 words)

Notes:

1.1) See sections III and IV(c) of 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 FAQ in the context of the relevant prohibitions in general.

1.2) Compare the definition of “Trust and corporate formation services” at FAQ # 1034.

• “Trust and corporate formation services” – includes services related to assisting persons in forming or structuring legal persons, such as trusts and corporations; acting or arranging for other persons to act as directors, secretaries, administrative trustees, trust fiduciaries, registered agents, or nominee shareholders of legal persons; providing a registered office, business address, correspondence address, or administrative address for legal persons; and providing administrative services for trusts. Please note that all of these activities are common activities of trust and corporate service providers (TCSPs), although they may be...