OFAC issues extended Ukraine-related General Licenses

On 20th March 2020, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) extended the expiration date of two Ukraine-related General Licenses (GL) until 22nd July 2020. GL No. 13N, “Authorizing Certain Transactions Necessary to Divest or Transfer Debt, Equity, or Other Holdings in GAZ Group,” replaces GL No. 13M in its entirety. GL No. 15H, “Authorizing Certain Activities Necessary to Maintenance or Wind Down of Operations or Existing Contracts with GAZ Group, and Certain Automotive Safety and Environmental Activities,” replaces GL No. 15G in its entirety. Follow this link to read the OFAC notice.