Russia-related General License 104 - Authorizing Transactions Related to Imports of Certain Diamonds Prohibited by Executive Order 14068 (August 23, 2024)

Date issued: Aug. 23 2024

You've hit a wall. Sign in if you have an account, or learn more about TURBOFAC and subscription options.
TURBOFAC is a module of the compliance platform OverRuled. To learn more about OverRuled, visit www.overruled.com.

TURBOFAC Commentary (384 words)

Notes:

1) On 8-23-24, OFAC issued Russia GL 103 and Russia GL 104, along with new FAQ # 1189 and amended FAQ # 1165 and FAQ # 1166. Determination pursuant to Section 1(a)(i)(B) of Executive Order 14068 (Effective March 1, 2024) - Prohibitions Related to Imports of Certain Categories of Diamonds prohibits importation and entry into the United States of certain non-industrial diamonds “that were mined, extracted, produced, or manufactured wholly or in part in the Russian Federation, notwithstanding whether such diamonds have been substantially transformed into other products outside of the Russian Federation”. Russia GL 104 authorizes, for a period of roughly one year, the importation of diamonds subject to the “Determination pursuant to Section 1(a)(i)(B)” prohibition provided that the diamonds were “physically located outside of the Russian Federation before, and were not exported or...