Opportunity
Federal Register #2026-09085
OFAC Publishes General License 34 for Wind-Down Transactions Involving Kovay Gardens
Buyer
Treasury Department, Office of Foreign Assets Control
Posted
May 07, 2026
Identifier
2026-09085
This notice announces the publication of General License 34 by the Department of the Treasury's Office of Foreign Assets Control (OFAC) under the Global Terrorism and Illicit Drug Trade Sanctions Regulations. - Government Buyer: - Department of the Treasury, Office of Foreign Assets Control (OFAC) - Purpose and Scope: - Publication of General License 34 (GL 34) under 31 CFR Part 594 and 31 CFR Part 599 - Authorizes certain transactions necessary for the wind down of dealings involving Kovay Gardens or entities in which Kovay Gardens holds a 50% or greater interest - Requires that payments to blocked persons be made into blocked accounts as per regulations - Notable Details: - This is a regulatory notice, not a procurement or contract award - No products, services, OEMs, or vendors are involved - The license formalizes and publicizes a previously available authorization on OFAC's website
Description
The Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing General License 34 (GL 34) pursuant to the Global Terrorism Sanctions Regulations and the Illicit Drug Trade Sanctions Regulations. This general license authorizes certain transactions otherwise prohibited by these regulations, specifically those incident and necessary to the wind down of transactions involving Kovay Gardens or entities with a 50 percent or greater interest owned by Kovay Gardens. The license was issued on February 19, 2026, and authorizes transactions through March 21, 2026, with conditions on payments to blocked persons. The publication formalizes the availability of this license which was previously accessible on OFAC's website.