OFAC FURTHER EXTENSION OF UKRAINE/RUSSIA SANCTIONS EXEMPTIONS

On 9th November, OFAC announced a further extension by means of extending the expiration date of certain general licences related to EN+ Group PLC, United Company RUSAL PLC, and GAZ Group, and issued the following 4 new General Licenses: 13G – Authorising Certain Transactions Necessary to Divest or Transfer Debt, Equity, or Other Holdings in Certain Blocked Persons; 14C – Authorising Certain Activities Necessary to Maintenance or Wind Down of Operations or Existing Contracts with United Company RUSAL PLC; 15B – Authorising Certain Activities Necessary to Maintenance or Wind Down of Operations or Existing Contracts with GAZ Group; and 16C – Authorising 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/20181109.aspx

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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