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OFFICE OF FOREIGN ASSETS CONTROL
Global Magnitsky Sanctions Regulations
31 CFR part 583
GENERAL LICENSE NO. 7
Authorizing Certain Transactions Involving Tabacalera del Este S.A. or Tabacos USA Inc. Pursuant to the Tobacco Master Settlement Agreement
(a) Except as provided in paragraph (b) of this general license, all transactions prohibited by the Global Magnitsky Sanctions Regulations, 31 CFR part 583 (GMSR), involving Tabacalera del Este S.A. (“TABESA”), Tabacos USA Inc. (“Tabacos”), or any entity in which TABESA or Tabacos owns, directly or indirectly, individually or in the aggregate, a 50 percent or greater interest, that are ordinarily incident and necessary to payments under the tobacco Master Settlement Agreement (MSA), entered into on November 23, 1998 between certain U.S. state and territory attorneys general and certain tobacco companies, are authorized.
(b) This general license...
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1) See MSA at https://www.naag.org/our-work/naag-center-for-tobacco-and-public-health/the-master-settlement-agreement/. This GL is unique to the Global Magnitsky Sanctions Regulations.
2) See corresponding FAQ # 1121, which specifies that "Global Magnitsky General License 7 does not authorize debits to any blocked account on the books of a U.S. financial institution or any other transactions otherwise prohibited by the Global Magnitsky Sanctions Regulations." That GLs do not authorize blocked accounts unless explicitly specified is a common feature of all OFAC sanctions programs. See § 583.301 Blocked account; blocked property.
The terms blocked account and blocked property shall mean any account or property subject to the prohibitions in § 583.201 held in the name of a person whose property and interests in property are blocked pursuant to § 583.201, or in which such person has an interest, and with respect to which...