OFAC Updates Week 10/5/20

October 6, 2020

The Office of Foreign Assets Control (OFAC) has issued the Venezuela-related General License 5E, "Authorizing Certain Transactions Related to the Petróleos de Venezuela, S.A. 2020 8.5 Percent Bond on or After January 19, 2021." Alongside this new license, OFAC has updated their frequently asked questions (FAQs) related to Venezuela.

See the General License Below:

http://bit.ly/VenezuelaGenLicense5E

See the FAQ Update Below:

http://bit.ly/VenezuelaSanctionsFAQ1020

October 8, 2020

In response to Executive Order (E.O.) 13902, OFAC has issued Iran-related General License L, "Authorizing Certain Transactions Involving Iranian Financial Institutions Blocked Pursuant to E.O. 13902." Alongside this new license, OFAC has updated their Iran-related FAQs. FAQ 845 grants non-U.S. persons a forty-five day wind-down period for any activity that is now sanctioned under E.O13902. Lastly, OFAC has updated their Specially Designated Nationals and Blocked Persons (SDN) List pursuant to this new E.O. and general license.

See the Executive Order Below:

http://bit.ly/ExecutiveOrder13902

See the General License Below:

http://bit.ly/IranGenLicenseL

See the FAQs Below:

http://bit.ly/IranSanctionsFAQ

See the Updates to the SDN List Below:

http://bit.ly/SDNUpdate10820

October 9, 2020

OFAC has updated their SDN List with Nicaragua-related designations. The three designations were linked to a financial institution in Nicaragua.

See the SDN List Updates Below:

http://bit.ly/SDNUpdate10920