SWEDISH OIL REFINER NYNAS PROPOSES RESTRUCTURING TO ESCAPE US SANCTIONS

On 21 January, Reuters reported that Nynas, which is owned by Venezuela’s state-run PDVSA and Finland’s Neste Oil, said it planned to reorganise its business in an attempt to disentangle itself from US sanctions.  The proposed changes have been filed with OFAC.

https://www.reuters.com/article/us-nynas-reconstruction/swedish-refiner-nynas-proposes-restructuring-to-escape-u-s-sanctions-idUSKBN1ZK1SQ

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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