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The US extended a license allowing BP Plc to use a workaround to handle payments involving sanctioned Iranian and Russian partners in a major gas project in Azerbaijan.
The US extended BP's license to transact with sanctioned Iranian and Russian partners in Azerbaijan.
KEY POINTS
- The license specifically covers BP's operations in the Shah Deniz gas project in the Caspian Sea.
- This extension enables BP to continue handling payments otherwise restricted by US sanctions.
- The license was granted by the US Treasury's Office of Foreign Assets Control (OFAC).
COMPANIES
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