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570. I own shares in or global depositary receipts (GDRs) related to shares in an entity that was designated under E.O. 13661 or E.O. 13662, or blocked pursuant to OFAC’s 50 percent rule on April 6, 2018 as a result of such a designation. What action am I allowed to take with respect to those shares or GDRs?
Until 12:01 a.m. eastern daylight time, May 25, 2022, General License (GL) 13R authorizes certain divestment and transfer activities related to debt, equity, or other holdings in GAZ Group, or in entities in which GAZ Group owns, directly or indirectly, a 50 percent or greater interest, that were issued by GAZ Auto Plant (“Other Issuer Holdings”), subject to certain conditions and exceptions. Specifically, GL 13R authorizes U.S. persons to divest or transfer to a non-U.S. person, or to facilitate the transfer by a non-U.S. person to another non-U.S. person,...
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1) Ukraine GL 13, which as of 8/2019 was on version "L," pertained to certain companies that were blocked for being owned/controlled by SDN Oleg Deripaska, but were not part of the agreement with OFAC that resulted in the de-listing [1] of other companies owned/controlled by that SDN (see https://home.treasury.gov/news/press-releases/sm592). References to the companies that were removed from the SDN list were removed from the version of the GL that succeeded the de-listing, because all property in which such entities had an interest were unblocked as a result of the de-listing.
[1] See also OFAC Notification to Congress of its Intention to Terminate the Sanctions Imposed on En+ Group plc, UC Rusal plc, and JSC EuroSibEnergo.
2) FAQ clarifies that depositary receipts referencing debt or...