OFAC announced a significant update to the Russia sanctions regime on Friday, removing 14 entities that have certified full divestment from Russian ownership or control, and adding 3 new general licenses to facilitate humanitarian and agricultural transactions.
The removals include six European energy firms that were originally sanctioned for operating joint ventures with Rosneft and Gazprom. Each company provided audited documentation proving that Russian partners have been bought out or excluded from governance. The remaining eight removals are Central Asian shell companies that were used for transshipment of dual-use goods; those companies have been dissolved.
OFAC also issued General Licenses 101, 102, and 103, authorizing: (101) agricultural equipment and fertilizer exports to Russia, (102) certain pharmaceutical and medical device transactions, and (103) non-commercial funds transfers for Russian students studying in the U.S. and vice versa.
No major oligarchs removed
Notably, no individuals on the Russia sanctions list — including oligarchs like Roman Abramovich and Oleg Deripaska — were removed. OFAC also added 22 new listings, including 7 Belarusian defense companies and 15 Chinese firms alleged to have shipped drone components to Russia.
Deputy Treasury Secretary Wally Adeyemo said: 'We are tightening the net, not loosening it. Removals are only for entities that have genuinely severed ties with the Kremlin's war machine.'
We are tightening the net, not loosening it. Removals are only for entities that have genuinely severed ties with the Kremlin's war machine.
The updated list takes effect April 15. OFAC also published a new FAQ section clarifying that General Licenses 101-103 do not authorize transactions involving designated Russian banks (Sberbank, VTB, etc.).
