OFAC FAQ (Current) # 1115 - Russian Harmful Foreign Activities Sanctions

Date issued: Feb. 24 2023

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TURBOFAC Commentary (259 words)

Notes:

1) See Determination Pursuant to Section 1(a)(i) of Executive Order 14024 (Effective February 24, 2023) and read in conjunction with related FAQ # 1114, FAQ # 1115, FAQ # 1116 and FAQ # 1117.

2) 589.325 defines “metals and mining sector of the Russian Federation economy” in a way that is identical to this FAQ for the purposes of EO 13662, which is a provision that, on its face, allows for the blocking of all persons determined to "operate in such sectors of the Russian Federation economy as may be determined by the Secretary of the Treasury, in consultation with the Secretary of State, such as financial services, energy, metals and mining, engineering, and defense and related materiel..."

One may therefore naturally ask what the point of the...