Office of Foreign Assets Control
The Office of Foreign Assets Control (OFAC) is the agency of the U.S. Treasury Department that administers and enforces economic and trade sanctions against targeted foreign countries, regimes, terrorists, narcotics traffickers, and other threats to national security. It issues licenses authorizing transactions that would otherwise be prohibited under those sanctions and maintains the Specially Designated Nationals (SDN) list of individuals and entities subject to asset blocks. OFAC operates under authorities delegated by the President and acts of Congress, including sanctions programs concerning Iran, Cuba, North Korea, and Russia.
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Russia resumes diesel exports to Turkey and Brazil after US-licensed lifting of ban
Russia has restarted diesel fuel exports to Turkey and Brazil after lifting its export ban, a move enabled by a temporary US Treasury license issued in the wake of a phone call between US President Donald Trump and Russian leader Vladimir Putin. Two tankers have already sailed from the Russian Baltic port of Primorsk to Turkey and Brazil, and Russia says it is ready to scale up deliveries. President Volodymyr Zelensky publicly criticized the US decision as weakness that will encourage Russia to continue the war.