Russia-related Designation Removal | Office of Foreign Assets Control

https://ofac.treasury.gov/recent-actions/20260306
Success
Service Cross-Border Payments 25% US Money Transmission 20%
Specialism Sanctions 85% Regulatory Reporting 60%
2026-03-06 17:15:54 · pdonofrio@vixio.com
ID
2942073
GUID
83c0cb938218d7583eb39088500d1531

Classification

Service
Cross-Border Payments (25%)

This is a sanctions delisting action with no direct connection to payment services, products, or regulatory frameworks governing payments.

US Money Transmission (20%)

While the entity's removal may indirectly affect cross-border transaction eligibility, the update is fundamentally a sanctions administrative action unrelated to payments regulation.

Specialism
Sanctions (85%)

The update concerns OFAC's removal of an entity from the SDN List under Russia sanctions, which directly involves sanctions screening and restrictive measures on payment activity.

Regulatory Reporting (60%)

Low confidence — requires human review. While the delisting affects payment firms' transaction screening obligations, the update itself is primarily an administrative sanctions action rather than a regulatory requirement for payment firms.

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TITLE: United States Office of Foreign Assets Control Removes Russia-Related Designation for Globe Trekkers LLC BODY: On March 6, 2026, the Office of Foreign Assets Control (OFAC), a division of the U.S. Department of the Treasury, removed Globe Trekkers LLC from its Specially Designated Nationals (SDN) List. Globe Trekkers LLC, a United Arab Emirates-based entity with offices in Dubai, had been designated under Russia Executive Order 14024 due to secondary sanctions risk. The entity maintained two registered addresses in Dubai: Salah Al Din Street 131, Dubai, United Arab Emirates, and PO Box 32276, M01, Saif Abdulrehman Building, Salahuddin Street, Deira, Dubai, United Arab Emirates. The entity was identified by Chamber of Commerce Number 20374 and Economic Register Number (CBLS) 10788984 in the United Arab Emirates. The removal was authorised under OFAC License 224100. The designation removal indicates that OFAC has determined the entity no longer poses a sanctions risk under the Russia-related sanctions programme established by Executive Order 14024. This action represents a delisting from OFAC's SDN List, which identifies individuals and entities with which U.S. persons are generally prohibited from conducting transactions. The removal allows Globe Trekkers LLC to engage in transactions with U.S. persons, subject to other applicable sanctions laws and regulations. OFAC maintains and regularly updates the SDN List based on evolving sanctions determinations and licensing decisions. Entities and individuals removed from the list may resume normal business operations with U.S. counterparts. **Reference:** Office of Foreign Assets Control. Russia-related Designation Removal. March 6, 2026. https://ofac.treasury.gov/recent-actions/20260306
  • Scraped:2026-03-06 17:15:54
  • Created:2026-03-06 17:15:54
  • By:pdonofrio@vixio.com (38)