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ARTICLE · 30 SEPTEMBER 2020

OFAC Extends Authorization On "Wind Down" Transactions For Certain Chinese Entities

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The authorization was originally set to expire on September 30, 2020, under General License 2.

United StatesInternational Law
Hogan Lovells Cadwalader
Hogan Lovells Cadwalader
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OFAC extended its authorization for certain "wind down and divestment" transactions and activities related to blocked subsidiaries of the Xinjiang Production and Construction Corps ("XPCC").

The authorization was originally set to expire on September 30, 2020, under General License 2. It is now extended through November 30, 2020, under General License 2A. General License 2A replaces and supersedes General License 2. OFAC also updated a related FAQ to reflect the extended authorization.

As previously covered, the designation of the XPCC was linked to human rights abuse in the Xinjiang Uyghur Autonomous Region (or "XUAR"). OFAC's designation of the XPCC was pursuant to Executive Order 13818, "Blocking the Property of Persons Involved in Serious Human Rights Abuse or Corruption," which implemented the Global Magnitsky Human Rights Accountability Act. As a result of OFAC's action, all entities that are owned 50 percent or greater by the XPCC are automatically

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