OFAC also indicates financial institutions should not re-report Russian sovereign assets previously reported to OFAC either pursuant to Directive 4 under Executive Order 14024
14024 to designate nine entities and two individuals and to impose additional restrictions on Russian sovereign financing. OFAC’s new Directive 1 for this E.O. – not to be confused with its other Directive 1 related to sectoral sanctions under E.O. 13662 – prohibits (1) participation by ...