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OFAC ANNOUNCES POSSIBILITY TO SIGN CERTAIN TYPES OF CONTRACTS WITH RUSAL

After intensive advocacy work in the past months and weeks with the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), the European Commission and the Member States, European Aluminium have announced a potential evolution in the Rusal dossier. 

Based on information published by OFAC in a Q&A last Friday, there may be an opening for companies to sign certain types of contracts extending beyond the current expiration of General Licenses 14, 15, and 16 under certain conditions. European Aluminium are currently in the process of seeking clarity on the legal interpretation of OFAC’s messaging and remain in close cooperation with the stakeholders. 

 

 

 

 Please see OFAC’s FAQ nr. 625