Global Magnitsky General License 7 - Authorizing Certain Transactions Involving Tabacalera del Este S.A. or Tabacos USA Inc. Pursuant to the Tobacco Master Settlement Agreement (March 31, 2023)

Date issued: Mar. 31 2023

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TURBOFAC Commentary (187 words)

Notes:

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...