Post by Sapphire Capital on Oct 18, 2014 5:46:43 GMT 4
On 6 October 2014, the US Treasury Department’s Office of Foreign Assets Control (“OFAC”) published Ukraine-Related General License 3 pursuant to Executive Order (“E.O.”) 13662, authorising all transactions with financial institutions named in the licence that would otherwise be prohibited by US sectoral sanctions against Russia. So far, only the Turkish bank DenizBank A.Ş., which is majority owned by Russia’s Sberbank, has been named in the licence.
