OFAC adds pandemic-related general licenses, updates FAQs
June 10, 2022
OFAC has announced three General Licenses — all titled "Authorizing Certain Activities to Respond to the Coronavirus Disease 2019 (COVID-19) Pandemic" — and updated six related FAQs.
General Licenses:
FAQs:
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906. What do Iran General License (GL) N-1, Syria GL 21A, and Venezuela GL 39A authorize with respect to the fight against the Coronavirus Disease 2019 (COVID-19)? How do these GLs differ from OFAC’s existing humanitarian exemptions, exceptions, and authorizations?
907. For the purposes of Iran General License (GL) N-1, what are goods or technology for use in connection with the prevention, diagnosis, or treatment of the Coronavirus Disease 2019 (COVID-19)? What transactions and activities related to the export or reexport of these items are authorized?
908. For the purposes of Iran General License (GL) N-1 and Syria GL 21A, what are services related to the prevention, diagnosis, or treatment of the Coronavirus Disease 2019 (COVID-19)? What transactions and activities related to the export or, in the case of Iran GL N-1, import of these services are authorized?
909. For the purposes of Venezuela General License (GL) 39A, what are transactions and activities related to the prevention, diagnosis, or treatment of the Coronavirus Disease 2019 (COVID-19)?
910. What are the due diligence expectations of U.S. financial institutions associated with processing fund transfers or trade finance transactions that are authorized by Iran General License (GL) N-1, Syria GL 21A, and Venezuela GL 39A?
911. Do non-U.S. persons risk exposure to U.S. sanctions for engaging in certain activities to respond to the Coronavirus Disease 2019 (COVID-19) pandemic that U.S. persons would be authorized to engage in under Iran General License (GL) N-1, Syria GL 21A, or Venezuela GL 39A?