13 Aug 2025
💼General License 1 for ICC-Related Sanctions Published
31 CFR Part 528
Summary
The Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing a general license (GL) issued pursuant to the International Criminal Court-Related Sanctions Regulations: GL 1.
Agencies
- Treasury Department
- Foreign Assets Control Office
Business Impact
$$ - Med
The regulation outlines a general license allowing specific transactions involving blocked persons, indicating compliance and regulatory obligations for businesses. Companies must ensure they adhere to the terms of GL 1 to engage in otherwise prohibited transactions effectively.