Russia-related General License 48A - Divestment or Transfer of Debt or Equity of, and Wind Down of Derivative Contracts Involving, Certain Entities Blocked on August 2, 2022 (August 3, 2022) [PDF includes all versions]

Date issued: Aug. 03 2022

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TURBOFAC Commentary (254 words)

Notes:

1) Compare Russia-related General License 43, and comments thereto. This GL, like that one, is similar to Russia-related General License 9 and Russia-related General License 10, but narrower in scope insofar as it allows transactions incident to transfers of covered securities.

2) Compare paragraph (b) with Russia-related General License 45. GL 45 authorizes "all transactions prohibited by section (1)(a)(i) of Executive Order (E.O.) 14071 that are ordinarily incident and necessary to the wind down of financial contracts or other agreements that were entered into on or before June 6, 2022 and involve, or are linked to, debt or equity issued by an entity in the Russian Federation..." This paragraph (b) authorizes "all transactions prohibited by E.O. 14024 that are ordinarily incident and necessary to the...