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New Licenses Ease Ukraine, Russia Business Wind-Downs

Law360 (June 19, 2018, 5:20 PM EDT) -- In recent weeks, the U.S. Treasury Department’s Office of Foreign Assets Control has continued its effort to allow U.S. persons to divest holdings and engage in transactions relating to the winding down of operations or existing contracts that would otherwise violate Ukraine- and Russia-related sanctions.

Specifically, OFAC has issued four general licenses, and published several new and revised FAQs concerning these general licenses:

On May 22, 2018, OFAC issued General License 15, authorizing certain activities necessary to the maintenance or wind-down of operations or existing contracts...
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