OFAC EXTENDS EXPIRY DATE OF 3 RUSSIAN SANCTIONS LICENCES AND ISSUES 3 MORE

On 21st September, OFAC announced that it had extended the expiration date of certain general licences related to EN+ Group plc and United Company RUSAL PLC, and issued 3 general licences – authorising –

  • certain transactions necessary to divest or transfer debt, equity, or other holdings;
  • certain activities necessary to maintenance or wind down of operations or existing contracts with United Company RUSAL PLC; and
  • certain activities necessary to maintenance or wind down of operations or existing contracts with EN+ Group PLC or JSC EuroSibEnergo.

https://www.treasury.gov/resource-center/sanctions/OFAC-Enforcement/Pages/20180921.aspx

https://home.treasury.gov/news/press-releases/sm492

https://www.rferl.org/a/rusal-russia-deripaska-sanctions-aluminum-putin-us-treasury/29503029.html

 

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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