meta_id 3232479

On June 11, 2026, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) announced significant updates to its sanctions programmes, including the designation of Cuba's state-owned oil and gas company and modifications to Russia-related sanctions measures. OFAC added Unión Cuba-Petróleo (also known as CUPET), Cuba's state-owned oil and gas enterprise, to its Specially Designated Nationals and Blocked Persons List (SDN List). The entity, established on March 25, 1992, is headquartered in Havana and designated under Executive Order 14404. Simultaneously, OFAC removed two Russian individuals from the SDN List: Sergey Aleksandrovich Maltsev and Olga Borisovna Raykes (also known as Olga Borisovna Raikes), both previously designated under Executive Order 14024 related to secondary sanctions risks. OFAC also updated the SDN List entry for Vend Ore GmbH, an Austrian organisation, to reflect changes in its linked entities. Additionally, OFAC issued two new Russia-related General Licenses: General License 55F, "Authorizing Certain Services Related to Sakhalin-2," and General License 115D, "Authorizing Certain Transactions Related to Existing Civil Nuclear Energy Projects." These licences permit specific transactions that would otherwise be prohibited under existing sanctions. OFAC amended eight Russia-related Frequently Asked Questions (FAQs 967, 978, 999, 1011, 1117, 1182, 1203, and 1216) to provide updated guidance on sanctions compliance. Entities subject to U.S. sanctions should review the updated SDN List and General Licences to ensure compliance with current restrictions. Organisations engaged in transactions involving Russia or Cuba should consult the amended FAQs for clarification on permissible activities.