Determination Pursuant to Executive Order 14024 of April 15, 2021 (Effective February 22, 2022)

Date issued: Feb. 22 2022

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TURBOFAC Commentary (122 words)

Notes:

1) Refer to section 3(b) of the comments to EO 14024 and, more generally, General Note on "Sectoral Sanctions" and Determinations Made Pursuant to EOs Providing for the Blocking of Persons Determined to "Operate In" a Certain Sector. Note that as of 2-25-23 OFAC has not used this designation criterion in a way that would merit inclusion in the Research System as a "quasi-secondary sanctions" enforcement action (refer to Introductory Note Common to all Derivative Designation Notices Included in the Research System).

2) Note FAQ # 1029 ("Persons determined to operate or to have operated in the financial services sector of the Russian Federation economy, which could include those engaging in gold-related transactions involving the Russian Federation...")