GL-8

Summary

General License No. 8, issued by OFAC effective November 27, 2013, authorizes all transactions related to the arrest, detention, and judicial sale of the AMIN Crude Oil Tanker (a.k.a. AMIN 2, IMO No. 9422366), arrested in Gulei, Zhangzhou port, China, which was blocked pursuant to Executive Order 13382. The license permits a range of activities including bidding on the vessel, financing, vessel management, and crewing. All other property and interests in property related to the Vessel that were previously blocked remain blocked unless otherwise authorized by OFAC.

Authorized activities

• Bidding on the purchase of the Vessel
• Paying deposits
• Providing financing, insurance, or funding in connection with the purchase
• Providing vessel management services
• Providing port agency services
• Purchasing of bunkers
• Repairing or modifying the Vessel for commercial use
• Providing crewing
• Hiring surveyors to inspect the Vessel

Conditions

Except as authorized in paragraph (a), the license does not authorize any provision of services or transfer of funds or other property, directly or indirectly, that would otherwise be prohibited by 31 C.F.R. Chapter V, including to any entity or individual whose property and interests in property are blocked. All previously blocked property and interests in property related to the Vessel pursuant to E.O. 13382 and/or the WMDPSR remain blocked unless otherwise authorized by OFAC. The authorization expires at 11:59 p.m. eastern standard time, November 30, 2015.

Reporting requirement

If the Vessel is sold pursuant to judicial sale, the purchaser may provide OFAC with evidence demonstrating that the basis for the blocking is no longer applicable in order to expedite removal of the Vessel from OFAC's SDN List. Recommended documentation includes: (1) documentation demonstrating completion of the vessel sale (e.g., bill of sale or court evidence); (2) documentation demonstrating the source of funds for the vessel purchase and associated financing parties; (3) corporate and other documentation to substantiate the identity of the buyer; and (4) if applicable, information or documentation regarding plans to lease the vessel to any party other than the buyer. See 31 C.F.R. § 501.807 for SDN List removal procedures.