US OFAC: bidders for Alfa Nero no longer need separate license

Press Statement

Antigua and Barbuda’s Ambassador to the United States of America, Sir Ronald Sanders, announced today that bidders in the Government of Antigua and Barbuda’s auction to sell the Super Yacht, Alfa Nero, no longer require a separate license from the Office of Foreign Assets Control (OFAC) of the US Treasury to bid or be the eventual owner of the vessel.

OFAC has advised the Government of Antigua and Barbuda that bidders would no longer need to seek a separate license since the specific license, issued to the Government of Antigua and Barbuda, authorizes U.S. persons and others to participate in an auction subject to the terms and conditions of the License.

Ambassador Sanders said that OFAC has emphasised that the License does not authorize the sale of the Vessel to persons who are otherwise blocked by OFAC regulations.

He added that, “Consequently, the Government of Antigua and Barbuda is pursuing intense due diligence on each of the bidders, including evidence of beneficial owners, source of funds, and whether or not they appear on a sanctions list”. He said that “In the course of our due diligence the names of potential bidders are being shared with key law enforcement agencies internationally”.

Sir Ronald said that “this latest step by OFAC is a welcome development because it relieves potential bidders of the further expense of getting a separate license and advances the completion of the necessary steps for holding the auction”. He remarked that the Government of Antigua and Barbuda has enjoyed beneficial cooperation form many agencies of the U.S. Government in this matter, which is greatly appreciated”