OFAC ISSUES COMMUNIST CHINESE MILITARY COMPANIES GENERAL LICENSE 1

On 8 January, OFAC issued General License 1: “Authorizing Transactions Involving Securities of Certain Communist Chinese Military Companies”.  Until 28 January, the License authorises all transactions and activities prohibited by Executive Order 13959 involving publicly traded securities, or any securities that are derivative of, or are designed to provide investment exposure to such securities, of an entity whose name closely matches the name of a Communist Chinese military company identified in the Annex to EO 13959 but that has not been listed on OFAC Non-SDN Communist Chinese Military Companies List.

https://home.treasury.gov/system/files/126/chinese_military_gl1.pdf

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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