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OFAC has announced the removal of sanctions imposed on the Ventspils Freeport Authority, which was designated on December 9 for being owned or controlled by Latvian oligarch Aivars Lembergs (Lembergs). The Latvian government has passed legislation effectively ending Lembergs’ control of the Ventspils Freeport Authority. As a result of the action, all property and interests in property, that had been blocked solely as a result of the Ventspils Freeport Authority’s designation, are unblocked and all otherwise lawful transactions involving U.S. persons and the Ventspils Freeport Authority are no longer prohibited. For details of the listings removed from OFAC's SDN list, see BankersOnline's OFAC Update.
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