OFAC Extends GL Related to Chinese Military Companies
The Office of Foreign Assets Control extended a general license authorizing certain transactions involving securities of companies that “closely” match the name of a company identified as a Chinese military company (see 2011130026), a Jan. 27 notice said. General License…
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No. 1A, which replaced General License No. 1 (see 2101120026), authorizes the transactions through 9:30 a.m. EDT May 27 and past the original expiration date of Jan. 28. OFAC also added language to the license to specify that it does not authorize transactions with securities of entities listed on OFAC’s Non-Specially Designated Nationals Communist Chinese Military Companies List or Defense Department-issued lists (see 2101150006). The agency updated frequently asked questions 878 and 879 to reflect the change.