What actions were taken on May 8, 2022 related to certain accounting, trust and corporate formation, and management consulting services?
OFAC's answer
On May 8, 2022, the Director of OFAC, in consultation with the Department of State, issued a [determination](https://ofac.treasury.gov/media/922956/download?inline) pursuant to Executive Order (E.O.) [14071](https://ofac.treasury.gov/media/922081/download?inline), "Prohibitions Related to Certain Accounting, Trust and Corporate Formation, and Management Consulting Services," prohibiting the exportation, reexportation, sale, or supply, directly or indirectly, from the United States, or by a United States person, wherever located, of certain accounting, trust and corporate formation, and management consulting services to any person located in the Russian Federation. This determination takes effect June 07, 2022. For more information, please see [FAQ 1034](https://ofac.treasury.gov/faqs/1034). On May 08, 2022, the Director of OFAC, in consultation with the Department of State, also issued a sectoral [determination](https://ofac.treasury.gov/media/922951/download?inline) pursuant to E.O. [14024](https://ofac.treasury.gov/media/57936/download?inline) that authorizes the imposition of economic sanctions on individuals and entities that operate or have operated in the accounting, trust and corporate formation services, or management consulting sectors of the Russian Federation economy. This determination takes effect on May 08, 2022. For further information, please see [FAQ 1034](https://ofac.treasury.gov/faqs/1034). On June 12, 2024, the Department of the Treasury issued a [determination](https://ofac.treasury.gov/media/932951/download?inline) that restricts the provision of certain IT and software-related services to Russia, including prohibiting the exportation, reexportation, sale, or supply, directly or indirectly, from the United States, or by a United States person, wherever located, to any person located in the Russian Federation of IT support services and cloud-based services for the following categories of software: enterprise management software and design and manufacturing software (collectively, "Covered Software"). These prohibitions took effect on September 12, 2024. See [FAQs 1184 – 1188](https://ofac.treasury.gov/faqs/search/1184+1185+1186+1187+1188) for additional information. Date Updated: September 12, 2024