OFAC EXTENDS EXPIRY DATE OF 2 UKRAINE SANCTIONS GENERAL LICENSES RELATING TO GAZPROM

On 1^st November, OFAC announced the amendment of 2 of its General Licenses that –

• authorise certain transactions necessary to divest or transfer debt, equity, or other holdings in certain blocked persons; and
• authorise certain activities necessary to maintenance or wind down of operations or existing contracts with GAZ Group, and certain automotive safety and environmental activities.

Another General License is amended to include an expanded authorization for certain safety-related activity and a new authorization for certain activities to comply with environmental regulatory requirements. ​

The new expiry date is 31^st March 2020.

https://www.treasury.gov/resource-center/sanctions/OFAC-Enforcement/Pages/20191101.aspx

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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 View all posts by raytodd2017