OFAC Venezuela Removals and Russia General License Update

OFAC Recent Actions

Published March 5th, 2026

Detected March 6th, 2026

Summary

The Office of Foreign Assets Control (OFAC) has removed certain entities and vessels from the Specially Designated Nationals (SDN) List related to Venezuela. Additionally, OFAC issued an amended Russia-related General License 129A, authorizing certain transactions involving Rosneft Deutschland GmbH and RN Refining & Marketing GmbH.

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What changed

OFAC has announced the removal of ARCTIC VOYAGER INCORPORATED, ARCTIC VOYAGER INC, and the vessel KIARA M from the Specially Designated Nationals (SDN) List, which were previously designated under Venezuela-related Executive Order 13850. Concurrently, OFAC issued an amended Russia-related General License 129A, titled "Authorizing Transactions Involving Rosneft Deutschland GmbH and RN Refining & Marketing GmbH." The notice also includes an administrative update to the entry for KIM, Yong Bok and an ongoing update for SIBREGIONGAZ, AO.

Regulated entities, particularly those involved in international trade and finance, should review the updated SDN list to ensure compliance with current sanctions designations. Companies transacting with or involving Rosneft Deutschland GmbH and RN Refining & Marketing GmbH must consult the specifics of General License 129A to confirm the scope of authorized activities. Failure to adhere to OFAC sanctions can result in significant civil penalties.

What to do next

Review updated SDN list for Venezuela-related removals.
Consult amended Russia-related General License 129A for authorized transactions.
Verify compliance with current sanctions designations for all business activities.

Penalties

Civil penalties may apply for non-compliance with OFAC sanctions.

Source document (simplified)

Venezuela-related Designations Removals; Issuance of Amended Russia-related General License

03/05/2026 The Department of the Treasury's Office of Foreign Assets Control (OFAC) is issuing Russia-related General License 129A, "Authorizing Transactions Involving Rosneft Deutschland GmbH and RN Refining & Marketing GmbH."

Additionally, OFAC has updated its Specially Designated Nationals and Blocked Persons List.

SPECIALLY DESIGNATED NATIONALS LIST UPDATE

The following deletions have been made to OFAC's SDN List:

ARCTIC VOYAGER INCORPORATED (a.k.a. ARCTIC VOYAGER INC), Trust Company Complex, Ajeltake Road, Majuro, Ajeltake Island 96960, Marshall Islands; Organization Established Date 08 Nov 2024; Identification Number IMO 0109600; Business Registration Number 128742 (Marshall Islands) [VENEZUELA-EO13850].

ARCTIC VOYAGER INC (a.k.a. ARCTIC VOYAGER INCORPORATED), Trust Company Complex, Ajeltake Road, Majuro, Ajeltake Island 96960, Marshall Islands; Organization Established Date 08 Nov 2024; Identification Number IMO 0109600; Business Registration Number 128742 (Marshall Islands) [VENEZUELA-EO13850].

KIARA M (3E2278) Crude Oil Tanker Panama flag; Vessel Year of Build 2004; Vessel Registration Identification IMO 9285823; MMSI 352002348 (vessel) VENEZUELA-EO13850.

Unrelated Administrative List Updates:

KIM, Yong Bok (Korean: 김영복) (a.k.a. "KIM, Yongbok"), Korea, North; DOB 27 Jul 1957; nationality Korea, North; alt. nationality Korea, North; Gender Male; Secondary sanctions risk: North Korea Sanctions Regulations, sections 510.201 and 510.210; Transactions Prohibited For Persons Owned or Controlled By U.S. Financial Institutions: North Korea Sanctions Regulations section 510.214; Passport 654420047 (Korea, North); President of Pyongyang University of Automation (individual) [DPRK2]. -to- KIM, Yong Bok (Korean: 김영복) (a.k.a. "KIM, Yongbok"), Korea, North; DOB 27 Jul 1957; nationality Korea, North; Gender Male; Secondary sanctions risk: North Korea Sanctions Regulations, sections 510.201 and 510.210; Transactions Prohibited For Persons Owned or Controlled By U.S. Financial Institutions: North Korea Sanctions Regulations section 510.214; Passport 654420047 (Korea, North); Deputy Chief of the Korean People's Army General Staff (individual) [DPRK2].

SIBREGIONGAZ, AO (a.k.a. SIBREGIONGAZ ZAO (Cyrillic: ЗАО СИБРЕГИОНГАЗ); a.k.a. ZAKRYTOE AKTSIONERNOE OBSHCHESTVO (Cyrillic: ЗАКРЫТОЕ АКЦИОНЕРНОЕ ОБЩЕСТВО СИБРЕГИОНГАЗ)), d. 82 ofis 104/ 4, Prospekt Krasny, Novosibirsk, Novosibirsk Region 630091, Russia; Secondary sanctions risk: See Section 11 of Executive Order 14024.; Organization Established Date 24 Jul 2003; Tax ID No. 5406258514 (Russia); Registration Number 1035402498999 (Russia) [RUSSIA-EO14024]. -to- SIBREGIONGAZ, AO (a.k.a. SIBREGIONGAZ ZAO (Cyrillic: ЗАО СИБРЕГИОНГАЗ); a.k.a. ZAKRYTOE AKTSIONERNOE OBSHCHESTVO SIBREGIONGAZ (Cyrillic: ЗАКРЫТОЕ АКЦИОНЕРНОЕ ОБЩЕСТВО СИБРЕГИОНГАЗ)), d. 82 ofis 104/ 4, Prospekt Krasny, Novosibirsk, Novosibirsk Region 630091, Russia; Secondary sanctions risk: See Section 11 of Executive Order 14024.; Organization Established Date 24 Jul 2003; Tax ID No. 5406258514 (Russia); Registration Number 1035402498999 (Russia) [RUSSIA-EO14024].