On 31 March, OFAC published a decision to remove a number of Russian companies and individuals from the sanctions list. The list also excluded some organisations related to counter-narcotics. The changes took effect immediately.
US lifts sanctions on Russian companies and individuals
On 31 March, OFAC announced the lifting of sanctions against a number of Russian entities and individuals. The list includes companies and individuals that were previously subject to restrictions in connection with Russian aggression and other violations.
The official list is published on the OFAC website. The reasons for lifting the sanctions are not specified.
Removal from the drug control list
In addition to the Russian defendants, a number of individuals associated with the fight against drug trafficking have been removed from the sanctions list. The Department regularly reviews and updates the lists in accordance with applicable US law.
The amendments are aimed at updating the sanctions policy and improving its effectiveness.
Context.
The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) is responsible for implementing and reviewing sanctions lists. Sanctions may be reviewed depending on the foreign policy situation, compliance with international obligations, or changes in the activities of the defendants.
Updates to the lists are published on OFAC's official website and become effective upon publication.
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