Frequently Asked Questions

940. What does Directive 1 under Executive Order (E.O.) 14038 do?

Answer

Pursuant to Directive 1 under E .O. 14038, the following activities by U.S. persons or within the United States are prohibited, except to the extent provided by law or unless licensed or otherwise authorized by the Office of Foreign Assets Control:  all transactions in, provision of financing for, and other dealings in new debt with a maturity of greater than 90 days issued on or after December 2, 2021 by the Ministry of Finance of the Republic of Belarus or the Development Bank of the Republic of Belarus.  These prohibitions apply to all denominations of debt.

Further, except to the extent otherwise provided by law or unless licensed or otherwise authorized by the Office of Foreign Assets Control, the following are also prohibited:  (1) any transaction that evades or avoids, has the purpose of evading or avoiding, causes a violation of, or attempts to violate any of the prohibitions contained in Directive 1 under E.O. 14038; and (2) any conspiracy formed to violate any of the prohibitions in Directive 1 under E.O. 14038.
 

Date Released
December 2, 2021