2 May 2024 15:05

U.S. Treasury Dept extends permission for energy-related transactions with Russian banks until Nov

WASHINGTON. May 2 (Interfax) - The United States Treasury Department's Office of Foreign Assets Control (OFAC) has once again extended the general license that permits financing energy transactions with Russian entities subject to U.S. sanctions, this time until November 1, 2024, the U.S. Treasury Department posted on its website on Tuesday.

The current OFAC license expired on May 1. The license permits financing energy transactions with Sberbank , VTB , Otkritie Bank, Alfa-Bank, Rosbank , Zenit Bank, Bank Saint Petersburg , and Sovcombank or these banks' respective subsidiaries, as well as with VEB and the Central Bank of Russia (CBR).

The concept of "energy" for the purposes of the license includes the production, transportation and liquefaction of oil or gas, as well as the production of other energy sources, including coal, uranium and renewable energy sources.