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On October 6, 2014, the Office of Foreign Assets Control (OFAC) issued Ukraine General License No. 3. “Authorizing Transactions Involving Certain Entities Otherwise Prohibited by Directive 1 under Executive Order 13662.” The General License authorizes all transactions prohibited by Directive 1 under Executive Order 13662 for DenizBank A.Ş., or any entity in which such a financial institution owns, directly or indirectly, a 50 percent or greater interest. The general license does not authorize otherwise prohibited transactions with other persons subject to any Directive under Executive Order 13662, or any other transactions prohibited pursuant to any part of 31 C.F.R. chapter V. |
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