Frequently Asked Questions

1033. What actions were taken on May 8, 2022 related to certain accounting, trust and corporate formation, and management consulting services?

Answer

On May 8, 2022, the Director of OFAC, in consultation with the Department of State, issued a determination pursuant to Executive Order (E.O.) 14071, “Prohibitions Related to Certain Accounting, Trust and Corporate Formation, and Management Consulting Services,” prohibiting U.S. persons from providing, directly or indirectly, certain accounting, trust and corporate formation, and management consulting services to any person located in the Russian Federation.  This determination takes effect June 7, 2022.  For more information, please see FAQ 1034.

On May 8, 2022, the Director of OFAC, in consultation with the Department of State, also issued a sectoral determination pursuant to E.O. 14024 that authorizes the imposition of economic sanctions on individuals and entities that operate or have operated in the accounting, trust and corporate formation services, or management consulting sectors of the Russian Federation economy.  This determination takes effect on May 8, 2022.  For further information, please see FAQ 1037.  

Date Released
May 8, 2022