US company seeks OFAC licence to continue with restructuring
9 February 2026
Jim Lambert/Shutterstock.comUS technology company Luminar Technologies has said it needs a licence from the US Office of Foreign Assets Control to cancel the ownership rights of US-sanctioned investor, Sergei Kerimov.
Mr Kerimov invested in Luminar through GVA Capital. GVA was fined $216m for breaching US sanctions by managing Mr Kerimov’s investments. Luminar has now issued a court filing in a Houston bankruptcy court. That filing says OFAC issued a blocking order for 5% of interests in Luminar parent shares, meaning Luminar debtors are prohibited from dealing in, or otherwise affecting, the interests prior to obtaining an OFAC licence. It is seeking an OFAC licence to continue the restructuring.
See our US Licensing page for OFAC licensing procedures.
