Determination Pursuant to Section 11(a)(ii) of E.O. 14024, as amended by E.O. of December 22, 2023 (Effective December 22, 2023)

Date issued: Dec. 22 2023

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TURBOFAC Commentary (168 words)

Notes:

1) Refer to comments to EO 14114 for more on section 11 of amended EO 14024. This determination, in conjunction with the underlying authority cited, is notable and unusual for the fact that it envisages the application of secondary sanctions on FFIs for transactions that may well be legal for U.S. person to engage in without a specific license. Contrast the guidance found at General Note on "Counterfactual Secondary Sanctions and Derivative Designation Safe Harbors" in Certain OFAC Guidance and FAQs (System Ed. Note). In general, conduct will not result in sanctions if it can be engaged in by U.S. persons without a specific license, but this appears to not be the case—either as a technical matter or a practical policy matter—as it relates to the facilitation of “critical items” transfers. See also comments to