The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has released four general licenses linked to sanctions against Russian harmful foreign activities. These licenses, numbered 53A, 55C, 113, and 114, allow certain transactions that were initially restricted, involving Russian entities like Gazprombank and projects such as Sakhalin-2. Each license specifies what activities are permitted and outlines exceptions, such as prohibiting some financial dealings with blocked entities. These licenses were first published on OFAC's website and have specific expiration dates outlined in the document.
Simple Explanation
The U.S. Treasury's Office of Foreign Assets Control (OFAC) gave out four special permissions, called general licenses, that let some businesses work with certain Russian companies, like Gazprombank, even though there are usually rules against it. These licenses let some things happen but also say some actions are still not allowed.