Regulatory Alerts2024-09-26 | 2024-21925Publication of Global Magnitsky Sanctions Regulations Web General License 8
The Department of the Treasury’s Office of Foreign Assets Control published General License 8 to authorize certain transactions otherwise prohibited by the Global Magnitsky Sanctions Regulations. This license specifically permits dealings with entities blocked solely due to property interests held by Ly Yong Phat or L.Y.P. Group Co., LTD, provided these entities are not separately designated on the Specially Designated Nationals List. The authorization excludes any transactions involving other persons blocked under the regulations unless separately authorized.
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