Joint Stock Company "Channel One Russia Worldwide" v. Russian TV Company Inc. (1:18-cv-02318-LGS-BCM) (SDNY, 2024, Dkt. 368)

Date issued: Jan. 12 2024

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TURBOFAC Commentary (227 words)

Notes:

1) Notable federal court case highlighting the distinction between "entering money judgment" in favor of a blocked person and the "execution" (or "enforcement") of such judgment. As noted by the court, OFAC regulations prohibit:

"the enforcement of any lien, judgment, arbitral award, decree, or other order through execution, garnishment, or other judicial process purporting to transfer or otherwise alter or affect property or interests in property blocked pursuant to § 587.201,” and state that “[u]nless licensed pursuant to this part, any attachment, judgment, decree, lien, execution, garnishment, or other judicial process is null and void with respect to any property or interest in property blocked pursuant to § 587.201.” Id. § 587.202(f).

Per the opinion, execution of a judgment requires OFAC authorization, but mere entry of a judgment does not (as least where the judgment does not focus on or affect "blocked...