OFAC REMOVES 5 LATVIAN ENTITIES FROM SANCTIONS LIST AND ISSUES AN AMENDED GENERAL LICENSE

On 18 December, OFAC removed from its Global Magnitsky (human rights and corruption) sanctions lists 5 Latvian entities linked to Aivars Lembergs, and which were only recently added to the lists.  The entities are connected to Ventspils Freeport. On a related matter, OFAC also issued General License 1A “Authorizing Certain Activities Necessary to the Wind Down of Transactions Involving Ventspils Attistibas Agentura, Biznesa Attistibas Asociacija, and Latvijas Tranzita Biznesa Asociacija”.  

https://www.treasury.gov/resource-center/sanctions/OFAC-Enforcement/Pages/20191218.aspx

https://www.treasury.gov/resource-center/sanctions/Programs/Documents/glomag_gl1a.pdf

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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