OFAC Russia, Venezuela Sanctions Guidance Update
Summary
The American Bankers Association reports on recent guidance updates from the U.S. Department of the Treasury's Office of Foreign Assets Control regarding Russia and Venezuela sanctions programs. The article covers developments affecting banks and financial institutions subject to OFAC sanctions regulations. No specific compliance deadlines or penalty amounts are stated in the source.
What changed
This article summarizes recent guidance updates from OFAC concerning Russia and Venezuela sanctions programs. The ABA is reporting on these developments as part of its compliance coverage for member banks. Banks and financial institutions should note that OFAC sanctions remain active enforcement priorities and should ensure their compliance programs address any new or revised guidance. The article does not specify which OFAC guidance documents were updated or what specific changes were made.
For affected financial institutions, this article serves as a reminder to review internal compliance procedures related to OFAC screening and transaction monitoring. Compliance teams should access the underlying OFAC guidance directly and assess whether policy updates or enhanced due diligence procedures are warranted.
What to do next
- Monitor OFAC sanctions lists for updates
- Review Russia and Venezuela transaction screening procedures
- Consult OFAC guidance documents for program details
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Apr 13, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
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Recent news from Treasury’s Office of Foreign Assets Control: April 13
April 13, 2026 Reading Time: 1 min read The Office of Foreign Assets Control announced the following sanctions action last week.
Russia-related and Venezuela-related Sanctions
OFAC issues new Russia‑related general license and updates guidance: On April 8, OFAC issued Russia‑related General License 13Q, authorizing certain administrative transactions otherwise prohibited under Directive 4 of Executive Order 14024, and amended FAQs 999 and 1118. OFAC also published Spanish translations of several Venezuela‑related general licenses and associated FAQs for informational purposes only. Read more.
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