OFAC Unblocks Certain Transactions for Two Vessels in Malta, HK
The Office of Foreign Assets Control has issued a General License No. 2 under the Weapons of Mass Destruction Proliferators Sanctions Regulations, which authorizes certain previously blocked transactions related to the arrest, detention, and judicial sale of the MV Dandle and MV Decretive, vessels currently under arrest in Malta and Hong Kong, respectively.
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This General License authorization is effective December 21, 2010 through January 31, 2012.
(Certain transactions relating to the two vessels were blocked under Executive Order 13382 in September 2008.)
Certain Port Agency, Vessel Management Services, Etc. Authorized
In furtherance of the arrest, detention, and judicial sale of the subject vessels, the license authorizes providing port agency services; providing vessel management services; purchasing of bunkers; repairing or modifying the subject vessels for commercial use; providing crewing; and hiring surveyors to inspect the vessels.
Authorized transactions include, but are not limited to, bidding on the purchase of the vessels; paying deposits; providing financing, insurance, or funding in connection with the purchase.
Other Property and Interests in Property Remain Blocked Under EOs
This general license does not authorize any provision of services, or any transfer or funds or other property, directly or indirectly, that would otherwise be prohibited by 31 CFR Chapter V, including to any entity or individual whose property and interests in property are blocked pursuant to any Executive Order, statute, or 31 CFR Chapter V.
In addition, unless otherwise authorized by OFAC, all property and interests in property related to the subject vessels that were previously blocked under E.O. 13382 and/or the Weapons of Mass Destruction Proliferators Sanctions Regulations, remain blocked.
Vessel Purchasers May Demonstrate Blocking is No Longer Applicable
If the subject vessels are sold pursuant to judicial sale, the purchaser of the vessels may provide OFAC with evidence demonstrating that the basis for the blocking is no longer applicable in order to expedite the removal of the subject vessels from OFAC's Specially Designated Nationals and Blocked Persons List. (See OFAC’s notice for recommended documentation in such a case.)