OFAC Publishes General License 5 for EMSA Wind-Down Transactions

The Office of Foreign Assets Control (OFAC) has published General License No. 5 in the Federal Register (Vol. 91, No. 175, page 57791; FR Doc 2026-18565). The license, originally issued on April 16, 2026, pertains to the Nicaragua Sanctions Regulations, 31 CFR part 582.

GL 5 authorizes, except as limited in paragraph (b), any transaction that is ordinarily incident and necessary to wind down a transaction involving Exportadora de Metales Sociedad Anonima (EMSA) or any entity in which EMSA holds a direct or indirect 50 percent or greater interest. Such authorized transactions may be conducted through 12:01 a.m. eastern daylight time on May 16, 2026, provided any payment to a blocked person is made into a blocked account in accordance with the NSR.

The license expressly does not authorize any other transactions prohibited by the NSR, including those involving any other person blocked pursuant to the NSR, unless a separate authorization is issued.

For further information, OFAC's Assistant Director for Regulatory Affairs can be reached at 202-622-4855 or via https://ofac.treasury.gov/contact-ofac. The full text of GL 5 and related materials are available on OFAC's website at https://ofac.treasury.gov/.