OFAC Issues Four Central America General Licenses
The Office of Foreign Assets Control issued one general license under “Kingpin Act/Honduras” entities and three general licenses under “Kingpin Act/Panama” on June 10, OFAC said (here). General License 1B (here) will allow certain transactions and activities to liquidate and…
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“wind down” Honduran Banco Continental, while General licenses 4B (here), 5A (here) and 6A (here) relax restrictions on previously barred transactions with certain designees. 4B will supersede 4A and authorize transactions involving shipment orders placed before May 5, 2016, with the Kingpin Act-designated Soho Mall Panama and “associated complex,” the general license said. General License 5A supersedes General License 5, and permits exportation and re-exportation of software, hardware and related services -- among other activities -- that are necessary for a Panamanian Government examination of the viability of Balboa Bank & Trust, following the government’s seizure of the institution. Finally, General License 6A authorizes similar goods exports to Panama that are necessary to conduct a government investigation of Balboa Securities’ inventory of assets and liability. OFAC has also updated its four frequently questions asked regarding “Counter Narcotics Sanctions,” the agency said (here).