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Thompson Hine LLP, a full-service business law firm with approximately 400 lawyers in 11 offices, was ranked number 1 in the category “Most innovative North American law firms: New working models” by The Financial Times and was 1 of 7 firms shortlisted for The American Lawyer’s inaugural Legal Services Innovation Award. The firm has been recognized by the National Law Journal as a Legal Technology Trailblazer and featured by Bloomberg for its innovative service delivery models, which drive accuracy and predictability. The firm’s commitment to innovation is embodied in Thompson Hine SmartPaTHTM – a smarter way to work – predictable, efficient and aligned with client goals. For more information, please visit ThompsonHine.com and ThompsonHine.com/SmartPaTH.

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<p>On July 10, 2024, the Department of the Treasury&rsquo;s Office of Foreign Assets Control (OFAC) again extended previous Russia-related General License (GL) 13 by issuing a revised&nbsp;<a href="https://ofac.treasury.gov/media/933006/download?inline" target="_blank" rel="noreferrer noopener">GL 13J</a>, &ldquo;Authorizing Certain Administrative Transactions Prohibited by Directive 4 under Executive Order 14024,&rdquo; which states that U.S. persons are authorized to pay taxes, fees, or import duties, and purchase or receive permits, licenses, registrations, certifications, or tax refunds to the extent such transactions are prohibited by Directive 4.&nbsp;Such transactions are allowable provided they are ordinarily incident and necessary to such persons&rsquo; day-to-day operations in the Russian Federation. Directive 4 prohibits any transaction involving the Central Bank of the Russian Federation, the National Wealth Fund of the Russian Federation, or the Ministry of Finance of the Russian Federation, including any transfer of assets to such entities or any foreign exchange transaction for or on behalf of such entities.</p>
<p>Previous GL 13I was set to expire on July 11, 2024; the revised GL 13J is set to expire on October 9, 2024. For additional background, please see our prior blog posts on this general license:&nbsp;<a href="https://www.thompsonhinesmartrade.com/2024/01/ofac-again-extends-authorizations-under-russia-general-license-13/">January 18, 2024</a>,&nbsp;<a href="https://www.thompsonhinesmartrade.com/2023/11/ofac-state-and-bis-announce-further-sanctions-on-companies-supporting-russias-war-efforts/">November 7, 2023</a>, <a href="https://www.thompsonhinesmartrade.com/2023/05/ofac-amends-russia-related-directive-4-regarding-transactions-with-russian-federation-central-bank-and-other-entities/">May 21, 2023</a>, and <a href="https://www.thompsonhinesmartrade.com/2024/04/ofac-again-extends-authorizations-under-russia-general-license-13-2/">April 15, 2024</a>.</p>

OFAC Continues to Extend Authorizations Under Russia General License 13

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