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Iris Zhang

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On July 16, 2020, the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) amended and extended two Ukraine-related general licenses related to GAZ Group (“GAZ”). Notably, General License No. 15I (“GL 15I”), issued to replace General License 15H, authorizes a wider range of activities related to the “the manufacture and sale of existing and new models of vehicles, their components, and spare parts” produced by GAZ. By way of background, GAZ was…