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Submission: On August 05 via api from SG — Scanned from DE
Submission: On August 05 via api from SG — Scanned from DE
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<option value="1621">Additional Questions from Financial Institutions</option>
<option value="8126">Afghanistan-Related Sanctions</option>
<option value="1651">Appeal an OFAC SDN Designation or other listing</option>
<option value="1591">Assessing OFAC Name Matches</option>
<option value="1501">Basic Information on OFAC and Sanctions</option>
<option value="7771">Belarus Sanctions</option>
<option value="1601">Blocking and Rejecting Transactions</option>
<option value="1536">Burma Sanctions</option>
<option value="5671">Chinese Military Companies Sanctions</option>
<option value="1611">Compliance for Internet, Web Based Activities, and Personal Communications</option>
<option value="1616">Compliance for the Insurance Industry</option>
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<option value="2396">Counter Terrorism Sanctions</option>
<option value="1526">Cross-Programmatic Compliance Services Guidance</option>
<option value="1541">Cuba Sanctions</option>
<option value="1546">Cyber-related Sanctions</option>
<option value="1521">Entities Owned by Blocked Persons (50% Rule)</option>
<option value="7886">Ethiopia-Related Sanctions</option>
<option value="1606">Filing Reports with OFAC</option>
<option value="5441">Global Magnitsky Sanctions</option>
<option value="5571">Hong Kong-related Sanctions</option>
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<option value="1636">How to Search OFAC's Sanctions Lists</option>
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<option value="2581">Nicaragua-related Sanctions</option>
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<option value="1586">See OFAC's Complete List of Sanctions Programs</option>
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2. Office of Foreign Assets Control - Sanctions Programs and Information
3. Frequently Asked Questions
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Aliases
RUSSIAN HARMFUL FOREIGN ACTIVITIES SANCTIONS
1049. For the purposes of Russia-related Executive Order (E.O.) 14066, E.O.
14068, or E.O. 14071 (collectively, “the respective E.O.s”), what is meant by
the term “new investment”?
Answer
For the purposes of the respective E.O.s, the Office of Foreign Assets Control
(OFAC) views “investment” as the commitment of capital or other assets for the
purpose of generating returns or appreciation. OFAC interprets “new” investment
as such a commitment made on or after the effective date of the respective E.O.
prohibitions. As a general matter, new investment includes such commitments
that are pursuant to an agreement entered on or after the effective dates of the
respective E.O. prohibitions. New investment also includes such commitments
pursuant to the exercise of rights under an agreement entered into before the
effective dates of the respective E.O. prohibitions, where such commitment is
made on or after the effective dates of the respective E.O. prohibitions. We
note, however, that new investment does not include the maintenance of an
investment made prior to the applicable effective dates of the respective E.O.
prohibitions (see FAQ 1050).
Unless exempt or otherwise authorized by OFAC, transactions that OFAC considers
to be “new investment” for the purposes of the respective E.O. prohibitions
include:
* The purchase or acquisition of real estate in the Russian Federation, other
than for noncommercial, personal use;
* Entry into an agreement requiring the commitment of capital or other assets
for the establishment or expansion of projects or operations in the Russian
Federation, including the formation of joint ventures or other corporate
entities in the Russian Federation;
* Entry into an agreement providing for the participation in royalties or
ongoing profits in the Russian Federation;
* The lending of funds to persons located in the Russian Federation for
commercial purposes, including when such funds are intended to be used to
fund a new or expanded project or operation in the Russian Federation;
* The purchase of an equity interest in an entity located in the Russian
Federation (see FAQs 1054 and 1055); and
* The purchase or acquisition of rights to natural resources or exploitation
thereof in the Russian Federation.
Examples of transactions that OFAC does not consider to be “new investment” for
the purposes of the respective E.O. prohibitions include:
* Entry into, performance of, or financing of a contract, pursuant to ordinary
commercial sales terms, to sell or purchase goods, services, or technology to
or from an entity in the Russian Federation (e.g., a payment of an invoice
for goods, where payment is made within the contracted time period and such
payment does not involve participation in royalties or ongoing profits);
* Maintenance of an investment in the Russian Federation, where the investment
was made prior to the effective date of the respective E.O. prohibitions,
including maintenance of pre-existing entities, projects, or operations,
including associated tangible property, in the Russian Federation (see FAQ
1050); and
* Wind down or divestment of a pre-existing investment, such as a pre-existing
investment in an entity, project, or operation, including any associated
tangible property, located in the Russian Federation (see FAQs 1053 and
1054).
Even if a transaction is not a prohibited form of “new investment” pursuant to
the respective E.O.s, U.S. persons engaging in the transaction must comply with
all other relevant sanctions prohibitions, including those pursuant to
Ukraine-/Russia-Related Sanctions Regulations and Russian Harmful Foreign
Activities Sanctions Regulations (see, e.g., FAQ 415). For example, the
respective E.O.s include provisions prohibiting any approval, financing,
facilitation, or guarantee by a United States person, wherever located, of a
transaction by a foreign person where the transaction by that foreign person
would be prohibited if performed by a United States person or within the United
States. For more information, see FAQ 1053.
Date Released
June 6, 2022
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