OFAC FAQ (Current) # 1075 - Russian Harmful Foreign Activities Sanctions

Date issued: Aug. 02 2022

Last substantive commentary amendment:
Aug. 13 2023

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TURBOFAC Commentary (166 words)

Notes:

1) This FAQ is one of several FAQs published by OFAC assuring the regulated public that one or more entities in which sanctioned individuals have or have had a significant ownership stake are not blocked—pursuant to the 50% Rule or otherwise–as a result of such individuals being pursuant to the RuHSR. As of 8-13-23 these are FAQ # 1073, FAQ # 1074, FAQ # 1075, FAQ # 1104, FAQ # 1129 and FAQ # 1131).

The apparent reason for the issuance of this FAQ stems from the fact Andrey Andreevich Gurev was the CEO of PhosAgro, that the Gurevs owned part of the company at the time the FAQ was issued, and OFAC does not want the designation Gurev designations to result in a "chilling effect" as it relates...