OFAC Issues Russia-Related General License for Diplomatic Missions
The Office of Foreign Assets Control issued Russia-related General License 53, which authorizes transactions necessary for the "compensation" of employees of diplomatic or consular missions of the Russian government. The authorization does not cover debit to an account owned by…
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the Russian Central Bank, the National Wealth Fund of Russia or the Russian Ministry of Finance. OFAC also published new frequently asked question 1096, which explains how the authorization applies to transactions related to Russian missions located both in or outside the U.S. The license "authorizes the payment of salaries to employees of Russian missions that may otherwise be prohibited by Directive 4," OFAC said, including payments payment originated by the Russian Finance Ministry from a non-blocked Russian bank. Directive 4, issued by OFAC in February, blocks transfers of assets to or on behalf of the Central Bank of Russia, the Russian National Wealth Fund and the Russian Ministry of Finance (see 2202280043).