Posts tagged as Development Agency

What is Ventspils Development Agency and what will its members do now?

Thursday, December 12, 2019

Among the organizations against which US Department of Treasury Office for Foreign Asset Control (OFAC) has adopted sanctions is also Ventspils Development Agency (VAA). In accordance with OFAC issued Global Magnitsky General Licence Nr.1, global partners have 30 days to cease all cooperation with this organization. However, among VAA members are multiple companies owned by Ventspils municipality. For years they’ve paid generous fees to VAA. Membership in VAA is not…