According to the Recent Actions page, OFAC has updated Venezuela General License 5B (Authorizing Certain Transactions Related to the Petroleos de Venezuela, S.A. 2020 8.5 Percent Bond on or After April 22, 2020) and 8E (Authorizing Transactions Involving Petroleos de Venezuela, S.A. (PdVSA) Necessary for Maintenance of Operations for Certain […]
Earlier today, OFAC issued an amended version of Venezuela General License 6 “Authorizing Certain Activities Necessary to the Wind Down of Operations or Existing Contracts with Globovision Tele C.A. or Globovision Tele CA, Corp.”. The only obvious substantive change is that it has been extended for 2 weeks, until January […]
Yesterday, OFAC issued a new version of Iran General License K, which permits maintenance and wind-down activities involving COSCO Shipping Tanker (Dalian) Co, Ltd. The new version now expires on February 4, 2020. Along with this, updated versions of Frequently Asked Questions 804: 804. Do sanctions on COSCO Shipping Tanker […]
On Wednesday, OFAC removed the following entities from the Global Magnitsky sanctions program: VENTSPILS FREEPORT AUTHORITY (a.k.a. FREEPORT OF VENTSPILS; a.k.a. FREEPORT OF VENTSPILS AUTHORITY; a.k.a. VENTSPILS FREE PORT; a.k.a. VENTSPILS FREEPORT), Jana 19, Ventspils LV-3601, Latvia [GLOMAG] (Linked To: LEMBERGS, Aivars). FREEPORT OF VENTSPILS AUTHORITY (a.k.a. FREEPORT OF […]
Here is OFAC’s summary: From October 1 through December 31, 2018, OFAC’s Licensing Division received a total of 36 applications pursuant to Section 906(a)(1) of the TSRA. During this period, OFAC issued a total of 19 licensing determinations,2 of which 11 were for cases received in this quarter. OFAC issued […]
2nd, 3rd and 4th Quarter FY2018 Reports for Licensing Activities Undertaken Pursuant to the Trade Sanctions Reform and Export Enhancement Act of 2000 (TSRA) 11/5/2019 OFAC has released Quarterly Reports of Licensing Activities pursuant to Section 906(b) of the Trade Sanctions Reform and Export Enhancement Act of 2000 (TSRA), covering activities […]
Sorry about this – about those OFAC changes to the Venezuela program I just posted? Well, OFAC also issued a new Frequently Asked Question (FAQ): 803. What types of activity does General License 35 authorize? U.S. persons are authorized to engage in certain administrative transactions with the Government of Venezuela that are prohibited […]
Today, OFAC added the following persons: BLANCO HURTADO, Nestor Neptali, Miranda, Venezuela; DOB 26 Sep 1982; nationality Venezuela; Gender Male; Cedula No. 15222057 (Venezuela) (individual) [VENEZUELA-EO13884]. CALDERON CHIRINOS, Carlos Alberto, Maracaibo, Zulia, Venezuela; DOB 03 Jul 1970; Gender Male; Cedula No. 10352300 (Venezuela) (individual) [VENEZUELA-EO13884]. CARRENO ESCOBAR, Pedro Miguel, Delta […]
Issuance of Amended Ukraine-related General Licenses 11/1/2019 Today OFAC extended the expiration date of two general licenses related to GAZ Group by issuing Ukraine-related General License No. 13M– Authorizing Certain Transactions Necessary to Divest or Transfer Debt, Equity, or Other Holdings in Certain Blocked Persons, and Ukraine-related General License No. 15G– Authorizing […]
On Thursday, OFAC updated General License 5 (now 5A) for the Venezuela program, making the authorization for these transactions regarding the PdVSA 8.5% 2020 bond only effective starting in mid-January. They also amended FAQ 595 to explain: 595. What does Venezuela-related General License 5A authorize? The President issued Executive Order (E.O.) 13835 on May 21, […]
