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

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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.