OFAC Will Allow Duty, Permit and VAT Payments to Russia Via General License
The Office of Foreign Assets Control will allow payment of certain taxes and import fees to Russia despite the sanctions imposed on the Russian central bank, national wealth fund and Ministry of Finance on Feb. 28 (see 2202280021). General License 13 authorizes payments of "taxes, fees, or import duties," as well as the purchase or receipt of "permits, licenses, registrations, or certifications" through 12:01 a.m. June 24. Russia's Federal Customs Bureau is part of its Ministry of Finance. The licence was issued March 2 along with General License 14, which authorizes certain activities by an entity that has the "sole function in the transaction" of acting as an "operator of a clearing and settlement system" with certain Russian financial institutions.
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OFAC also updated two existing Russia-related general licenses on March 2. General License 9A and GL 10A, which allow certain transactions with several Russian banks until May 25, replace previously issued GLs 9 and 10 (see 2202240069). OFAC also published new FAQs and updated existing FAQs to provide more information on the licenses.