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Expert Analysis

OFAC License For Rusal Wind-Down Shows Flexible Approach

By Anthony Rapa (May 2, 2018, 3:51 PM EDT) -- Last week, the U.S. Department of Treasury's Office of Foreign Assets Control issued General License No. 14 under the Ukraine-related sanctions regulations, authorizing the maintenance or winding down of business with United Co. Rusal PLC through Oct. 23, 2018. The imposition of sanctions on Rusal, which OFAC listed as a specially designated national, or SDN, on April 6, had roiled the global aluminum market and sparked fears of a worldwide supply shock....

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