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Financial Services Law Insights and Observations

OFAC extends two Ukraine-related general licenses

Financial Crimes Department of Treasury OFAC Of Interest to Non-US Persons Sanctions Ukraine Russia

Financial Crimes

On March 20, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced it extended the expiration dates of two Ukraine-related general licenses (GLs) by issuing GL 13N, which supersedes GL 13M, and GL 15H, which supersedes GL 15G. Both GLs—which now expire July 22—authorize certain transactions necessary to divest or transfer debt, equity, or other holdings, or wind down operations or existing contracts with a Russian manufacturer previously sanctioned by OFAC in April 2018 (covered by InfoBytes here).

Visit here for continuing InfoBytes coverage of actions related to Ukraine.

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