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LICENSE No. RUSSIA-EO14024-2023-1076594-1
RUSSIAN HARMFUL FOREIGN ACTIVITIES SANCTIONS REGULATIONS
LICENSE
(Issued under the authority of one or more of 50 U.S.C. §§ 1601-51, 1701-06, Executive Orders 14024, 14039, 14065, 14066, 14068, and 14071, and 31 C.F.R. Parts 501, 587, and 589.)
To: PJSC Bank Otkritie Financial Corporation
c/o [ ], PLLC
[ ]
Washington, DC 20015
Attn: [ ]
1. Based upon the request dated May 5, 2023, and additional correspondence dated May 12, 2023, May 16, 2023 May 18, 2023, May 22, 2023, May 24, 2023, May 30, 2023, June 27, 2023, August 3, 2023, August 7, 2023, August 24, 2023, August 28, 2023, August 29, 2023, August 30, 2023, August 31, 2023, September 1, 2023 and September 6, 2023, on behalf of PJSC Bank Otkritie Financial Corporation...
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1) This license was issued in connection with a state court litigation in which a blocked person was a plaintiff and a non-sanctioned U.S. person with assets in the U.S. was a defendant. The blocked plaintiff moved to have the state court recognize a foreign (Russian) judgment issued in favor of the plaintiff against the defendant. The court (see pp. 27 et seq. of the native PDF) ruled, almost certainly incorrectly, that it was barred not only from enforcing the judgment, but merely from “recognizing” the judgment as valid. The court reasoned that “while recognition is technically distinct from enforcement, recognition here appears to be merely a procedural step towards enforcement,” which is true, but OFAC has long regarded the scope of the blocking prohibition triggering at specified steps, i.e. the point at which a court would be engaged in the “transfer” of property in which...