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OFFICE OF FOREIGN ASSETS CONTROL
Russian Harmful Foreign Activities Sanctions Regulations
31 CFR part 587
GENERAL LICENSE NO. 110
Authorizing the Wind Down of Transactions Involving Certain Entities Blocked on October 30, 2024
(a) Except as provided in paragraph (b) of this general license, all transactions prohibited by Executive Order (E.O.) 14024 that are ordinarily incident and necessary to the wind down of any transaction involving one or more of the following blocked entities are authorized through 12:01 a.m. eastern standard time, December 14, 2024, provided that any payment to a blocked person is made into a blocked account in accordance with the Russian Harmful Foreign Activities Sanctions Regulations, 31 CFR part 587 (RuHSR):
(1) XH Smart Tech China Co Ltd;
(2) Lokesh Machines Limited;
(3) Galaxy Bearings Ltd;
(4) Orbit Fintrade LLP;
(5) Wuhan Huazhong Numerical Control Co Ltd;
(6) Beijing Dynamic Power Co Limited;
(7) Sharpline Automation Private Limited; or
(8) Any entity in which one or more of the above persons own, directly or indirectly, individually or in the aggregate, a 50 percent or greater interest.
(b) This general license does not authorize:
(1) Any transactions prohibited by Directive 2 under E.O. 14024, Prohibitions Related to Correspondent or Payable-Through Accounts and Processing of Transactions Involving Certain Foreign Financial Institutions;
(2) Any transactions prohibited by Directive 4 under E.O. 14024, Prohibitions Related to Transactions Involving the Central Bank of the Russian Federation, the National Wealth Fund of the Russian Federation, and the Ministry of Finance of the Russian Federation; or
(3) Any transactions otherwise prohibited by the RuHSR, including transactions involving any person blocked pursuant to the RuHSR other than the blocked persons described in paragraph (a) of this general license, unless separately authorized.
Lisa M. Palluconi
Acting Director
Office of Foreign Assets Control
Dated: October 30, 2024\
1) This is a standard wind-down general license covering multiple blocked entities, authorizing the processing of underlying transactions even where those underlying transactions do not involve U.S. persons (see e.g., FAQ 807), but not including authorizations for the "maintenance" of activities. Compare Russia-related GL 88.
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) Russia-related General License 110 (general wind down) and Russia-related General License 111 (securities) were issued concurrently and apply to most of the same entities.