The OverRuled: Russia Trade Controls Resource Center has been updated with the following actions:
- 12 Dec 2023 (OFAC):
OFAC and the U.S. Department of State designated 23 individuals and 250 entities, and identified three vessels as blocked property, each pursuant to Executive Order 14024, in an action aimed at disrupting the networks and channels through which Russia supports its military-industrial base and evades sanctions, targeting Russia’s future energy production and export capacity and also the proliferation of military equipment and munitions from the Democratic People's Republic of Korea to Russia. These sanctioned individuals and entities operate in a variety of industries, including the defense and related materiels, technology, financial services, manufacturing, electronics, aerospace, transportation, metals and mining, and construction sectors of the Russian Federation economy. While many of the individuals and entities designated in this action are based in Russia, OFAC and the Department of State also designated entities based in China, Türkiye, the United Arab Emirates, Hong Kong, Pakistan, South Korea, Switzerland, Singapore, Kyrgyz Republic, Maldives, Cyprus, and Tajikistan.
Concurrent with these designations, OFAC issued two general licenses: (i) General License 79, which authorizes the wind down of transactions involving certain entities blocked on December 12, 2023 through 12:01 a.m. Eastern Daylight Time, March 11, 2024, subject to certain conditions, and (ii) General License 80, which authorizes certain transactions with Highland Gold Mining Limited through 12:01 a.m. Eastern Daylight Time, March 11, 2024, subject to certain conditions.
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