Last week (21 September), OFAC extended the expiration date of three General Licences relating to EN+ Group and RUSAL. See OFAC Notice.
General Licences 13D, 14A, and 16A amend their previous versions by extending the expiration date from 23 October 2018 to 12 November 2018 for transactions related to the companies and their subsidiaries. The US Treasury press release states that these licences were extended to “allow sufficient time to review” the proposals EN+ and RUSAL put to the US Government regarding “substantial corporate governance changes that could potentially result in significant changes in control” (see previous blog).
Michael was called to the Bar in 1992 and prior to joining Peters & Peters was a senior specialist prosecutor at the Crown Prosecution Service Headquarters (CPS). He was a key member of a small specialist unit responsible for the prosecution of serious and high-profile fraud, terrorist,...See profile for Michael O'Kane >