Russia-related General License 60 - Authorizing the Wind Down and Rejection of Transactions Involving Certain Entities Blocked on February 24, 2023 (February 24, 2023)

Date issued: Feb. 24 2023

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 (128 words)

Notes Common to Russia-related General License 60 and Russia-related General License 61

1) Compare Russia-related General License 58 and Russia-related General License 59 (Rosbank-related). Except for the fact that the authorizations are for three months, instead of the usual one month, the GLs are typical of the now-standard GLs for the wind down of transactions with blocked Russian financial institutions (GL 60) and transactions involving debt and equity of such institutions (GL 61).

2) Refer generally to Examples of Transactions Deemed to Be, and Not to Be, Within the Scope of the Standard “Wind-Down” and “Maintenance” GLs, for comments on the scope of the typical wind down GL containing language similar to Russia-related GL 60 and Russia-related GL 61.