FROM THE OFFICE OF PUBLIC AFFAIRS
November 16, 2004
JS-2102
OFAC Licensing Policy for Three Specially-
Designated Businesses in Colombia
The U. S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has adopted a policy to issue specific licenses, on a case by case basis, authorizing U.S. suppliers to engage in certain transactions with the following Colombian Government-controlled entities, which have been designated by OFAC as Specially Designated Narcotics Traffickers (SDNTs) pursuant to 31 CFR Part 536:
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Cooperativa Multiactiva de Empleados de Distribuidores de Drogas Copservir Ltda. (COPSERVIR), NIT # 830011670-3, which manages the Drogas La Rebaja establishments in
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Cooperativa Multiactiva de Comercializacion y Servicios Farmacoop (FARMACOOP) NIT # 830010878-3;
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Cooperativa de Cosmeticos y Populares Cosmepop (COSMEPOP) NIT # 800251322-5.
The Government of Colombia took control of these companies in September 2004. By establishing a licensing policy, OFAC is ensuring that these entities continue to operate – and do so in a legitimate manner – under the control of the Colombian government, thereby preserving the jobs of several thousand Colombians who were unknowingly manipulated by
U.S. suppliers seeking a license to sell products to COPSERVIR, FARMACOOP or COSMEPOP should submit a written license application in accordance with 31 CFR § 501.801(b) to the Office of Foreign Assets Control, Licensing Division, U.S. Department of the Treasury, 1500 Pennsylvania Avenue, NW – Annex, Washington, DC 20220.
In addition to the information required by 31 CFR § 501.801(b)(3), the application must include a detailed description of the proposed transactions, the source and method of payment and a copy of a signed purchase request from any of the aforementioned cooperatives. Questions regarding this policy should be directed to OFAC's Licensing Division at (202) 622-2480.