OFAC license for energy financing operations with sanctioned businesses from Russia extended until November 1

MOSCOW. May 5 (Interfax) - The general license, which allows energy financing operations with Russian companies under U.S. sanctions, has been extended until November 1, 2023, according to a message on the website of the Office of Foreign Assets Control of the US Department of the Treasury (OFAC).

OFAC's current license expires on May 16. It allows energy financing transactions with Sberbank , VTB , Otkritie Bank, Alfa Bank, Rosbank , Zenit Bank, Saint Petersburg Bank , and Sovcombank or their subsidiaries, as well as with VEB and the Russian Central Bank.

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