OFAC Removes Sanctions Against Latvian Port Authority, Amends General License

The Treasury’s Office of Foreign Assets Control removed sanctions imposed on Ventspils Freeport Authority and amended a general license to reflect the change, according to a Dec. 18 notice. Ventspils was designated Dec. 9 for being owned by a sanctioned Latvian oligarch (see 1912090019), but is being removed from U.S. sanctions because the Latvian government passed legislation “effectively ending” the oligarch’s ownership, Treasury said in a Dec. 18 press release. OFAC also replaced Global Magnitsky General License 1 with General License 1A, which removes any mention of the Ventspils Freeport Authority.