The Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury has updated its license application portal required for frozen asset withdrawal transactions.
Now on the portal it is possible to create an account to submit requests for specific licenses or to send reports required by some licenses. By registering an account, applicants will be able to save and return to the application during processing; view a list of their applications and related case statuses in one panel; save frequently used contacts for easier data entry.
However, creating and accessing an account requires verifying your identity through an online service. ID.me , which is blocked on the territory of Russia.
An OFAC license is permission from an authorized body of the United States Administration (OFAC) to perform certain transactions or several transactions which are impossible without such permission due to US sanctions. There are two types of these permits: general and specific. Accordingly, these licenses are called a “general OFAC licence” and “specific OFAC licences”.
