Russia-related General License 89 - Authorizing the Wind Down and Rejection of Transactions Involving Certain Financial Institutions Blocked on February 23, 2024 (February 23, 2024)

Date issued: Feb. 23 2024

You've hit a wall. Sign in if you have an account, learn more about TURBOFAC and subscription options, or purchase access to the text of the document on this page, the native .pdf file, and the associated TURBOFAC original commentary.
TURBOFAC is a module of the compliance platform OverRuled. To learn more about OverRuled, visit www.overruled.com.

TURBOFAC Commentary (105 words)

Notes:

1) Compare Russia-related General License 60. This GL is typical of the now-standard GLs for the wind down/rejection of transactions with blocked Russian financial institutions, except that this version does not authorize any transactions prohibited by Directive 4 Under EO 14024, whereas other similar GLs do cover certain transactions prohibited by Directive 4.

2) See related debt/equity divestment GL at Russia-related GL 90.

3) 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 GL of this variety.