GL-8K

Active

Energy Transactions

Status: Active
Program: RUSSIA-EO14024
Authorization: energy_transactions
Effective: 2024-10-30
Expires: No stated expiry

Summary

Authorizes transactions ordinarily incident and necessary to dealings in energy involving certain blocked persons.

Authorized activities

energy
oil
gas
petroleum
pipeline
lng
natural gas
fuel
crude
refinery
petrochemical

Conditions

Does not authorize debit to blocked accounts. Current version 8K.

Reporting requirement

Energy transactions under this GL require enhanced documentation. Institutions must be prepared to demonstrate to OFAC that each transaction was ordinarily incident and necessary to energy dealings. Debits to blocked accounts are NOT authorized.