Sanctions: OFAC De-Lists Ventspils
The UK P&I Club have received the following client alert from Freehill Hogan and Mahar, regarding the delisting of Ventspils by OFAC.
As reported in our Client Alert of December 12, 2019, the Ventspils Freeport Authority was added to the U.S. Specially Designated Nationals (SDN) list on Monday, December 9, 2019. Yesterday (December 18), the U.S. authorities removed that entity from the SDN list. The removal was based on the takeover of the entity by the Latvian government and the removal of it from the control of Aivars Lembergs, the Mayor of Ventspils, Latvia. Mr. Lembergs reportedly owned/controlled the Ventspils Freeport Authority. In removing that entity from the list, Deputy Secretary of the U.S. Treasury Department Justin G. Muzinich said, “The U.S. applauds the Latvian government’s swift response to Lembergs’ designation. This delisting of the Ventspils Freeport Authority underscores our commitment to work closely with our partners to combat corruption.”
Members can read the full client alert. For any further information, please get in touch with your usual Club contact.