OFAC Extends Expiration Dates Of Venezuelan And Ukrainian General Licenses

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OFAC extended the expiration dates of a Venezuela-related General License and two Ukraine-related General Licenses.

United States International Law

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OFAC extended the expiration dates of a Venezuela-related General License and two Ukraine-related General Licenses.

OFAC extended until October 25, 2019 the date for the Venezuela-related General License No. 13B, which allows certain activities with Nynas AB, a company partially owned by Petróleos de Venezuela S.A. ("PdVSA"). As previously covered, OFAC sanctioned PdVSA, the Venezuelan state-owned oil and natural gas company, pursuant to Executive Order 13850.

Separately, OFAC extended until November 8, 2019 the date for the Ukraine-related General License No. 13L. General License No. 13L permits certain transactions necessary to divest or transfer debt, equity or other holdings in GAZ Group, and holdings in entities in which GAZ Group owns an interest. OFAC also extended until November 8, 2019 the date for the Ukraine-related General License No. 15F, which allows U.S. persons to engage in maintenance or wind-down transactions related to the GAZ Group.

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