16 January 2019
OFAC EXTENDS THE EXPIRATION DATE OF CERTAIN GENERAL LICENSES RELATED TO RUSAL
Yesterday, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) extended the expiration date of certain general licenses related to United Company RUSAL PLC (RUSAL), by issuing the following three general licenses:
• General License No. 13J – Authorizing Certain Transactions Necessary to Divest or Transfer Debt, Equity, or Other Holdings in Certain Blocked Persons; (please note that for transactions involving GAZ group the general license is extended until 7 March)
• General License No. 14E – Authorizing Certain Activities Necessary to Maintenance or Wind Down of Operations or Existing Contracts with United Company RUSAL PLC; and
• General License No. 16E– Authorizing Certain Activities Necessary to Maintenance or Wind Down of Operations or Existing Contracts with EN+ Group PLC or JSC EuroSibEnergo
The General Licenses 13J, 14E, and 16E amend certain previous general licenses, by extending the expiration date from 21 January 2019 to 28 January 2019 for transactions related to RUSAL and its subsidiaries.