OFAC Extends Expiration Date of General Licenses Related to Ukraine Related Sanctions

The U.S. Treasury Department Office of Foreign Assets Control ("OFAC") extended the expiration date of two General Licenses related to Ukraine-related sanctions.

General License 13I, which replaces General License 13H, authorizes certain transactions necessary to divest or transfer debt, equity or other holdings in certain blocked persons. As for transactions authorized by this General License pertaining to GAZ Group or entities that GAZ Group owns, the expiration date is March 7, 2019. The expiration date for transactions involving En+ Group PLC or United Company Rusal PLC remains January 21, 2019.

General License 15D, which replaces General License 15C, authorizes certain activities necessary to maintain or wind down operations or existing contracts with GAZ Group. Contracts or other agreements involving GAZ Group, or any other entity that GAZ Group owns, are authorized through March 7, 2019. The expiration date was extended to March 7, 2019 from January 21, 2019.