Global Magnitsky General License 5 - Authorizing Certain Transactions Related to Frigorifico Chajha S.A.E. (January 26, 2023) 

Date issued: Jan. 26 2023

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TURBOFAC Commentary (129 words)

Notes:

1) Read in conjunction with FAQ # 1111, issued concurrently with this GL.

2) Compare Global Magnitsky General License 3 and Russia-related General License 48. This is, as of 1-2023, a relatively standard GL for the genre (transfer/divestment of debt and equity of an SDN). The primary substantive differences between this GL and Global Magnitsky General License 3 is that GL 3 authorizes the win down of "financial contracts" linked to covered debt or equity, while this GL covers "derivative contracts" that are linked to covered debt or equity or otherwise have the blocked person as a counterparty. For comments on the distinction, refer to General Note on GLs and Other Types of Authorizations as Applied to Dealings in or Related to Securities...