Russia-related General License 56A - Authorizing Certain Services with Respect to the European Union (February 3, 2023)

Date issued: Feb. 04 2023

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TURBOFAC Commentary (365 words)

Notes:

* [Update - on 2-4-23, this GL was amended to expand the authorization to the prohibitions related to Russian-origin petroleum products. The below has not been amended to reflect this fact]

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1) In OFAC's 11-22-22 OFAC Guidance on Implementation of the Price Cap Policy for Crude Oil of Russian Federation Origin, OFAC notes that :

Council Regulation (EU) 2022/879 contains three derogations:

• As of 5 December 2022 until 31 December 2024 for Bulgaria, to execute contracts concluded before 4 June 2022, or of ancillary contracts necessary for the execution of such contracts, for the purchase, import or transfer of seaborne crude oil (CN 2709 00) and of petroleum products (CN 2710) originating in Russia or exported from Russia.
• As of 5 February 2023 until 31 December 2023 for Croatia, to purchase, import or transfer...