Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) is issuing Ukraine-/Russia-related General License 1B and is publishing updated Ukraine-/Russia-related FAQs and one new Ukraine-/Russia-related FAQ.
These changes relate to the amended Ukraine-/Russia-related Directives 1 and 2 that were issued on September 29, 2017 in accordance with Title II of the Countering America’s Adversaries Through Sanctions Act of 2017 (CAATSA).
Certain CAATSA-related prohibitions in amended Directives 1 and 2 had a delayed effective date of November 28, 2017. In order to account for the fact that the CAATSA-related prohibitions in amended Directives 1 and 2 have now come into effect, OFAC is issuing General License 1B to address the decrease in the maturity dates for Directive 1 from 30 days to 14 days, and the decrease in the maturity dates for Directive 2 from 90 days to 60 days; in the case of both directives, these new prohibitions relate to debt issued on or after November 28, 2017. OFAC is also publishing updated Ukraine-/Russia-related FAQs and one new FAQ.
No comments:
Post a Comment