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Where’s the WhiteOut? OFAC fixes a few licenses…

Issuance of Amended Nicaragua-related General Licenses 3/25/2020 The Department of the Treasury’s Office of Foreign Assets Control (OFAC) is issuing Nicaragua-related General License No. 1A “Official Business of the United States Government” and General License No. 2A “Authorizing the Wind Down of Transactions Involving the Nicaraguan National Police” to make certain minor technical amendments […]

March 20, 2020: GAZ Group stays off the hook

Issuance of Amended Ukraine-related General Licenses 3/20/2020 Today OFAC extended the expiration date of two general licenses related to GAZ Group by issuing Ukraine-related General License No. 13N – “Authorizing Certain Transactions Necessary to Divest or Transfer Debt, Equity, or Other Holdings in GAZ Group,” and Ukraine-related General License No. 15H – “Authorizing Certain Activities […]

March 6, 2020: COVID-19 related Iran FAQ issued

Issuance of Iran-related Frequently Asked Question Related to Humanitarian Assistance with Regard to the Coronavirus Disease 2019 (COVID-19) outbreak in Iran 3/6/2020 Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) is issuing a new Frequently Asked Question related to the manner in which humanitarian goods or assistance can […]

OFAC issues new Iran General License

Issuance of Counter Terrorism and Iran-related General License 8 and Frequently Asked Questions 2/27/2020 The Department of the Treasury’s Office of Foreign Assets Control (OFAC) is issuing General License 8 “Authorizing Certain Humanitarian Trade Transactions Involving the Central Bank of Iran” and related FAQsin conjunction with the formalization of the Swiss Humanitarian Trade Arrangement (SHTA), […]

OFAC amends Venezuela General License 6

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 […]

December 18, 2019: Well, that was quick…

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 […]