OFAC Removes Sanctions Against Latvian Port Authority, Amends General License
The Treasury’s Office of Foreign Assets Control removed sanctions imposed on Ventspils Freeport Authority and amended a general license to reflect the change, according to a Dec. 18 notice. Ventspils was designated Dec. 9 for being owned by a sanctioned…
Sign up for a free preview to unlock the rest of this article
If your job depends on informed compliance, you need International Trade Today. Delivered every business day and available any time online, only International Trade Today helps you stay current on the increasingly complex international trade regulatory environment.
Latvian oligarch (see 1912090019), but is being removed from U.S. sanctions because the Latvian government passed legislation “effectively ending” the oligarch’s ownership, Treasury said in a Dec. 18 press release. OFAC also replaced Global Magnitsky General License 1 with General License 1A, which removes any mention of the Ventspils Freeport Authority.