US: REMOVAL OF VENEZUELA-RELATED GENERAL LICENSE 13E, NEW GENERAL LICENSES 3H AND 9G, AND AMENDED FAQ

On 12 May, a news release from the US Treasury advised the License 13E “Authorizing Certain Activities Involving Nynas AB” had been revoked, new Licenses 3H “Authorizing Transactions Related to, Provision of Financing for, and Other Dealings in Certain Bonds” and 9G “Authorizing Transactions Related to Dealings in Certain Securities” have been issued.  New FAQ 661 and 662 explain the role of the new licences.  The US Treasury says that Nynas AB has undertaken a corporate restructuring that has resulted in Nynas AB no longer being blocked pursuant to the Venezuela Sanctions Regulations.

https://www.treasury.gov/resource-center/sanctions/OFAC-Enforcement/Pages/20200512.aspx

https://www.treasury.gov/resource-center/faqs/Sanctions/Pages/faq_other.aspx#661

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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