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February 16, 2007
HP-268

Statement of Licensing Policy for Two
Specially
Designated Entities in Colombia

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) adopted a policy to consider the issuance of specific licenses, on a case-by-case basis, authorizing U.S. suppliers to engage in certain transactions with two Colombian Government-controlled entities previously named as Specially Designated Narcotics Traffickers (SDNTs).

• G.L.G. S.A. (NIT # 800023807-8)
• Ramal S.A. (NIT # 800142109-5)

Both G.L.G. S.A. and Ramal S.A. manage certain aspects of the SDNT Casa Estrella department store, a Colombian department store chain located in Bogotá and Cali, Colombia.

Designated by OFAC in 2005 as part of the North Valle drug cartel's financial network, the Government of Colombia took control of these companies in August 2006. By establishing this licensing policy, OFAC is enabling these entities continue to operate legitimately under the control of the Colombian government. OFAC continues to work closely with Colombian officials to monitor the situation.

U.S. suppliers seeking a license to sell products to these companies 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 and a purchase request from either of the aforementioned companies, signed by the appropriate Government of Colombia official, that specifies the types of products to be purchased and the account(s) from which payment will be made. Licensees under the policy will be required to submit detailed reports regarding the transactions authorized by the license. Questions regarding this policy should be directed to OFAC's Licensing Division at (202) 622-2480.

A copy of the licensing policy may be accessed here: http://www.treasury.gov/offices/enforcement/ofac/programs/narco/sdn_lic_pol_021607.pdf

http://www.treas.gov/press/releases/js2646.htm  (July 2005)
http://www.treas.gov/press/releases/js2102.htm  (Nov 2004)