On August 2, 2024, the U.S. Department of Treasury’s Office of Foreign Assets Control (“OFAC”) issued Russia-related General License ("GL") 99A, which authorizes through October 12, 2024, the ...

The general license for purchasing Russian oil expired on March 12. It means that European countries and US allies can no longer buy oil from Russia without imposing sanctions from Washington, ...

On January 29, 2026, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued a new Venezuela-related General License (No. 46), authorizing established US companies to engage ...

“Treasury is preparing to take action to wind-down General License 41 and other specific licenses as appropriate,” the Office of Foreign Asset Control (OFAC) said in a brief statement, adding that it ...

[Stay on top of transportation news: Get TTNews in your inbox.] The Trump administration issued a general license expanding the ability of oil companies to operate in Venezuela, marking a significant ...