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Oh? OFAC issues General License for Chinese Military Companies

OFFICE OF FOREIGN ASSETS CONTROL
Executive Order 13959 of November 12, 2020 Addressing the Threat From Securities Investments That Finance Communist Chinese Military Companies
GENERAL LICENSE NO. 1
Authorizing Transactions Involving Securities of Certain Communist Chinese Military Companies
(a) Except as provided in paragraph (b) of this general license, all transactions and activities prohibited by section 1(a)(i) of Executive Order (E.O.) 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 E.O. 13959 but that has not been listed on the Office of Foreign Assets Control’s Non-SDN Communist Chinese Military Companies List, are authorized through 9:30 a.m. eastern standard time, January 28, 2021.
(b) This general license does not authorize any transactions or activities otherwise prohibited by E.O. 13959, any other E.O. or statute, or any part of 31 C.F.R. chapter V.
Dated: January 8, 2021
_______________________ Andrea Gacki
Director
Office of Foreign Assets Control
Mr. Watchlist would like to think he had something to do with this. He did write OFAC telling them that FAQ 864 conflicted with FAQ 857 and E.O. 13959 and that, at best, the wording of FAQ 864 was bad. He did not say the quiet part – that perhaps the E.O. was poorly worded.

Link:

OFAC Notice

Communist Chinese Military Companies General License 1

Categories: Chinese Military Companies sanctions Licenses OFAC Updates

eric9to5

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