The Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced the extension of a general license involving Nynas AB, General License 13E, through 12:01 a.m., May 14, 2020. The announcement explained that OFAC was extending the expiration date of this general license to provide additional time for Nynas AB to complete its proposed corporate restructuring, which would result in “significant changes to Nynas AB’s ownership and control.”
General License 13E authorizes all transactions and activities otherwise prohibited by the Venezuela Sanctions Regulations, 31 C.F.R. part 591 (VSR), where the only Venezuelan government entities involved are Nynas AB or any of its subsidiaries. General License 13E does not authorize transactions or dealings with blocked persons other than Nynas AB and its subsidiaries, or that are related to the export of diluents and the purchase of Venezuelan-origin petroleum and petroleum products.