Why is OFAC issuing General License 12B, and what new activity does it authorize?
OFAC's answer
OFAC issued [General License 12B](https://ofac.treasury.gov/media/8791/download?inline) to address difficulties blocked U.S. persons are having accessing funds needed for authorized wind-down and maintenance activities. General License 12B explicitly permits originating and intermediary U.S. financial institutions to process funds transfers that they would otherwise block to an account held by a blocked U.S. person at a U.S. financial institution. In addition, General License 12B clarifies that U.S. financial institutions can release such funds for authorized maintenance and wind-down purposes only. On May 22, 2018, OFAC issued amended [General License 12C](https://ofac.treasury.gov/media/8796/download?inline) to make conforming edits in light of the issuance of General License 15.