Belarus General License 8 - Authorizing the Wind Down of Transactions Involving Joint Stock Company Byelorussian Steel Works Management Company of Holding Byelorussian Metallurgical Company (August 09, 2023)

Date issued: Aug. 09 2023

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TURBOFAC Commentary (143 words)

Notes:

1) Except for Note to paragraph (a), this is a standard wind-down general license, authorizing the processing of underlying transactions that may not involve U.S. persons (see e.g., FAQ 807), but not including authorizations for the "maintenance" of activities.

2) Refer to the Research System for documents dealing with the scope of the types of transactions that qualify for "wind down" GLs such as this. See in particular Examples of Transactions Deemed to be, and not to be, Within the Scope of the Standard "Wind-down" and "Maintenance" GLs.

3) With respect to "Note to paragraph (a)," compare Russia-related GL 21. Bel-Kap-Steel LLC is a U.S. person, so OFAC wants to make clear that U.S. persons owed money by Bel-Kap-Steel LLC can be paid pending the duration of the wind...