On Oct. 30, OFAC issued five Russia-related general licenses.
OFAC issued Russia general license 8K (GL 8K), general license 25G (GL 25G), general license 110 (GL 110), general license 111 (GL 111), and general license 112 (GL 112).
Related to transactions involving entities blocked for sectors or entities, see #231541.
General License 8K
GL 8K is entitled Authorizing transactions related to energy allowing energy-related transactions with 11 Russian financial institutions, related entities until Apr. 30, 2025.
Includes Vnesheconombank, Otkritie, Sovcombank, Sberbank, VTB Bank, Alfa-Bank, Rosbank, Bank Zenit, Bank Saint-Petersburg, NCC, and Central Bank of Russia.
New license replaces and supersedes in its entirety the general license 8J , #215700.
General License 25G
GL 25G is entitled Authorizing transactions related to telecommunications and certain internet-based communications allowing certain sale supplying of products to Russia.
Authorizes the exportation, sale or supplying of services, software, hardware and technology relating to exchange of communications over internet from US to Russia.
Prohibits transactions involving Channel One Russia, NTV, Russia-1, Algoritm, New Eastern Outlook, Oriental Review, Garantex Europe OU, Dialog, and Dialog Regions.
Also prohibits transactions with information agency Rossiya Segodnya, TV organization Novosti, XH Smart Tech China Co Ltd, and CJSC Perspective Technologies Agency.
New license replaces and supersedes in its entirety the general license 25F, #226272.
General License 110
GL 110 is entitled Authorizing the wind down of transactions involving certain entities blocked on October 30, 2024 involving 7 companies and related subsidiaries, entities.
Transactions prohibited by E.O. 14024 necessary to the winding down of any transactions involving the blocked entities are authorized through Dec. 14, 2024.
Blocked entities include XH Smart Tech China Co Ltd, Lokesh Machines Limited, Galaxy Bearings Ltd, Orbit Fintrade LLP, and Wuhan Huazhong Numerical Control Co Ltd.
Also includes Beijing Dynamic Power Co Limited, Sharpline Automation Private Limited.
General License 111
GL 111 is entitled Authorizing certain transactions related to debt or equity of, or derivative contracts involving, certain entities blocked on October 30, 2024.
Authorizes transactions prohibited by E.O. 14024 necessary to divestment or transfer of debt or equity issued or guaranteed by blocked entities through Dec. 14, 2024.
Allows clearing and settling of covered debt or equity, wind down of derivative contract
Entity include XH Smart Tech China Co Ltd, Beijing Dynamic Power Co Limited, Lokesh Machines Limited, Galaxy Bearings Ltd, Wuhan Huazhong Numerical Control Co Ltd.
General License 112
GL 112 is entitled Authorizing civil aviation safety and wind down transactions involving Shaurya Aeronautics Private Limited allowing transactions with blocked entity
Authorizes transactions prohibited by E.O. 14024 necessary for exportation of goods, services to ensure the safety of civil aviation involving Shaurya through Dec. 14, 2024.
The goods or services provided, exported are for use solely for civil aviation purposes.
Also authorizes transactions necessary to wind down of transaction involving Shaurya.
Effectiveness
GL 110, GL 111, GL 112 in effect through Dec. 14, 2024; GL 8K through Apr. 30, 2025.
GL 25G did not specify an expiry date.
Nov. 2024 OFAC Federal Register
On Nov. 14, 2024, OFAC published Russian foreign activity licenses in federal register.
