Treasury Replaces And Extends Ukraine Related General License

Under Ukraine Related Sanctions Regulations, the U.S. Treasury Department Office of Foreign Assets Control ("OFAC") issued General License 13B to replace, in its entirety, General License 13A. The new General License continues to permit certain transactions necessary to divest or transfer debt, equity or other holdings of three named companies (including entities in which they own, directly or indirectly, a 50 percent or greater interest): (i) EN+ Group PLC, (ii) GAZ Group and (iii) United Company RUSAL PLC. The amendment extends the expiration date of the General License's authorization from 12:01 a.m. EDT on June 6 to August 5, 2018. U.S. persons participating in transactions authorized by General License 13B are required, within 10 business days after its expiration, to file a detailed report with OFAC.