Russia-related General License 11 (February 24, 2022)

Date issued: Feb. 24 2022

You've hit a wall. Sign in if you have an account, or learn more about TURBOFAC and subscription options.
TURBOFAC is a module of the compliance platform OverRuled. To learn more about OverRuled, visit www.overruled.com.

TURBOFAC Commentary (201 words)

Notes:

1) 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. See designation press release at https://home.treasury.gov/news/press-releases/jy0602.

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) On the date on which it was blocked pursuant to EO 14024, VEB was also subject to SSI Directive 1. The SSI designation did not change as a result of the blocking. Note that this