Russia-related General License 59 - Authorizing Transactions Related to Debt or Equity of, or Derivative Contracts Involving, Public Joint Stock Company Rosbank (December 15, 2022)

Date issued: Dec. 15 2022

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TURBOFAC Commentary (128 words)

Notes:

1) Read in conjunction with FAQ # 1103, issued concurrently with this GL. This is standard "debt/equity" GL, as issued in the Russian context (compare e.g. Russia GL 43 and Russia GL 48), except in that it licenses against Directive 4 Under EO 14024. Up through this GL, OFAC had been carving "Any transactions prohibited by Directive 4 under E.O. 14024" out of standard "Transactions Related to Debt or Equity of, or Derivative Contracts Involving" GLs.

2) Refer generally to General Note on GLs and Other Types of Authorizations as Applied to Dealings in or Related to Securities of Sanctioned Issuers., for comments on the scope of the typical wind down GL containing language similar to Russia-related GL 58 and Russia-related GL 59....