New Sanctions Regulations Announced by the Treasury Department
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The U.S. Department of the Treasury has published new regulations related to international sanctions. These regulations come from a department known as the Office of Foreign Assets Control (OFAC). These rules are part of the International Criminal Court-Related Sanctions Regulations.
General License 11 Released
A special rule was published called a “General License” or GL. This specific one is named General License 11 (GL 11). OFAC had released GL 11 online before now. This document allows certain actions that were previously not allowed under earlier sanctions rules.
Important Dates to Know
GL 11 was first made official on December 18, 2025. But, it was only valid for one month and ended on January 17, 2026. This means that any actions that were allowed by GL 11 had to be completed by that January date.
Who is Affected?
GL 11 is related to people named Gocha Lordkipanidze and Erdenebalsuren Damdin. It also affects companies where these people own at least 50% directly or indirectly. If you want to wind down deals with them, you could have done so through GL 11. But, any money paid had to go into special accounts in the U.S.
Restrictions and Rules
Even though GL 11 allowed some actions, it didn’t allow everything. Transactions with other blocked people outside of the ones mentioned were still prohibited unless separately allowed.
Official Statement
This new regulation and GL 11 were signed by Bradley T. Smith. Smith is the Director of the Office of Foreign Assets Control.
For more information, people can check the OFAC website. The official document is publicly available for review and clarifies the rules.
Conclusion
The GL 11 provides a temporary rule to handle certain transactions that weren’t allowed before. However, it expired on January 17, 2026. Therefore, ongoing adherence to more permanent rules is necessary.
All these updates can be found on the official government website.
Legal Disclaimer
This article includes content collected from the Federal Register (federalregister.gov). The content is not an official government publication. This article is for informational purposes only and does not constitute legal advice. For case-specific consultation, please contact us. Read our full Legal Disclaimer, which also includes information on translation accuracy.
