January 26, 2022

OFAC issues two new Ukraine-related general licenses and several related FAQs

On January 24, 2022, the US Department of the Treasury’s Office of Foreign Assets Control issued two Ukraine-related general licenses – General License 13Q, Authorizing Certain Transactions Necessary to Divest or Transfer Debt, Equity, or Other Holdings in GAZ Group, and General License 15K, Authorizing Certain Activities Involving GAZ Group.  While these licenses were extended for one year back on December 23, 2020, the new licenses only extend the authorizations for 90 days, until April 27, 2022.  In order to provide additional clarity regarding the authorizations in GL 13Q and GL 15K, OFAC issued updates to several frequently asked questions, including FAQs 570-571 and 586, and FAQs 588-592 and 625.

Department of Treasury Recent Actions | Ukraine-related GL 13Q | Ukraine-related GL 15K | Frequently Asked Questions – January 24, 2022 updates