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Thompson Hine LLP, a full-service business law firm with approximately 400 lawyers in 11 offices, was ranked number 1 in the category “Most innovative North American law firms: New working models” by The Financial Times and was 1 of 7 firms shortlisted for The American Lawyer’s inaugural Legal Services Innovation Award. The firm has been recognized by the National Law Journal as a Legal Technology Trailblazer and featured by Bloomberg for its innovative service delivery models, which drive accuracy and predictability. The firm’s commitment to innovation is embodied in Thompson Hine SmartPaTHTM – a smarter way to work – predictable, efficient and aligned with client goals. For more information, please visit ThompsonHine.com and ThompsonHine.com/SmartPaTH.

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<p>The Department of the Treasury&rsquo;s Office of Foreign Assets Control (OFAC) announced the extension of a general license involving Nynas AB, <a href="https://www.treasury.gov/resource-center/sanctions/Programs/Documents/venezuela_gl13e.pdf" target="_blank" rel="noopener noreferrer">General License 13E</a>, through 12:01 a.m., May 14, 2020. The <a href="https://www.treasury.gov/resource-center/sanctions/OFAC-Enforcement/Pages/20200403.aspx" target="_blank" rel="noopener noreferrer">announcement</a> 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 &ldquo;significant changes to Nynas AB&rsquo;s ownership and control.&rdquo;</p>
<p>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.</p>

OFAC Issues Amended Venezuela-Related General License Involving Nynas AB