OFAC extends wind-down period for sanctioned individuals Lordkipanidze and Damdin
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Table of Contents
The Treasury Department’s Office of Foreign Assets Control (OFAC) published General License 11, which temporarily allows certain transactions that are otherwise prohibited under the International Criminal Court-Related Sanctions Regulations. These regulations generally block U.S. persons from dealing with specific individuals linked to international crimes.
Why it matters: This is an administrative extension of a previous general license that expired on January 17, 2026. It provides a clear deadline for closing out financial ties to specific sanctioned individuals, ensuring compliance without disrupting ongoing operations abruptly. The impact is limited to those directly involved in transactions with the named persons or their controlled entities.
Who it affects
- Financial institutions and businesses that have existing relationships with Gocha Lordkipanidze or Erdenebalsuren Damdin
This action was issued by Bradley T. Smith, Director of OFAC at the Treasury Department; readers should verify the full text on OFAC’s website before relying on this summary for legal decisions.
Agency: Treasury Department, Foreign Assets Control Office
Source: Federal Register — read the official document