Today, OFAC has issued Ukraine/Russia-related General Licence 14, which authorises US persons to engage in specified transactions related to winding down or maintaining business with United Company RUSAL PLC (RUSAL) and its subsidiaries until 23 October 2018. RUSAL, along with linked entity EN+ Group PLC and Russian oligarch Oleg Vladimirovich Deripaska, were among those sanctioned earlier this month for being involved in a range of “malign activity around the globe” (previous blog here). New OFAC FAQs have also been published, which clarify that “OFAC will not impose sanctions on foreign persons for engaging in the same activity involving RUSAL or its subsidiaries that General Licence 14 authorises US persons to engage in”. US Treasury press release here.
OFAC has also issued Ukraine/Russia-related General Licence 12A, which replaces and supersedes General Licence 12 in its entirety (General Licence 12 was issued earlier this month to “minimize immediate disruptions to U.S. persons, partners, and allies” effected by the recent US sanctions against a number of Russian oligarchs, government officials and entities).