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OFFICE OF FOREIGN ASSETS CONTROL
Ukraine Related Sanctions Regulations
31 CFR part 589
GENERAL LICENSE NO. 15L
Authorizing the Wind Down of Transactions Involving GAZ Group
(a) Except as provided in paragraph (b), all transactions and activities prohibited by the Ukraine Related Sanctions Regulations, 31 CFR part 589 (URSR), that are ordinarily incident and necessary to the wind down of transactions involving GAZ Group, or any entity in which GAZ Group owns, directly or indirectly, a 50 percent or greater interest, are authorized through 12:01 a.m. eastern daylight time, May 25, 2022.
(b) This general license does not authorize:
(1) Any debit to an account of GAZ Group, or any entity in which GAZ Group owns, directly or indirectly, a 50 percent or greater interest, on the books of a U.S. financial...
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1) See FAQs and comments thereto for discrete issues raised by the GL: FAQ 586, FAQ 587, FAQ 588, FAQ 589, FAQ 590, FAQ 591, FAQ 592.
2) See interpretive Guidance Letter in Case No. Ukraine-EO13662-2018-354754-1 for discussion on relationship between "maintenance" wind-down licenses and secondary sanctions.
3) COMMON NOTE ON THE RELATIONSHIP BETWEEN UKRAINE GL 12, UKRAINE GL 13, UKRAINE GL 14, UKRAINE GL 15, AND UKRAINE GL 16 (GLs 14 and 16 revoked in 2020, subsequent to the removal of sanctioned entities at issue from the SDN list).
GL 12 authorized the wind-down and maintenance of operations with a wide variety of "oligarch-owned" companies that were all designed on the...