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584. Why is OFAC issuing General License 13A, and what new activity does it authorize?
OFAC is amending General License 13 to include certain entities that issued debt and equity for EN+ Group, GAZ Group, United Company RUSAL PLC, or entities in which those persons own, directly or indirectly, a 50 percent or greater interest. The purpose of this amendment is to further the original intended relief. In particular, it authorizes transactions and activities necessary to divest or transfer debt, equity, or other holdings in EN+ Group, GAZ Group, or United Company RUSAL PLC. It also authorizes such transactions in entities in which those persons own, directly or indirectly, a 50 percent or greater interest, provided that such debt, equity, or other holdings were issued by Irkutskenergo, GAZ Auto Plant, or Rusal Capital Designated Activity Company. The authorization in GL 13A includes transactions and activities to facilitate...
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1) Ukraine GL 13, which as of 8/2019 is on version "L," pertains 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) For comments on purchases to cover short positions,...