OFAC Renews 2 Russia-Related Licenses
The Office of Foreign Assets Control renewed two Russia-related general licenses last week that authorize transactions related to debt, equity or currency-conversion. Both licenses were scheduled to expire Aug. 13 but now expire 12:01 a.m. EDT Oct. 12.
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GL 99A, which replaces GL 99, authorizes the wind down of certain transactions related to debt, equity of, or derivative contracts involving the Moscow Exchange, the National Clearing Center, the Non-Bank Credit Institution Joint Stock Company National Settlement Depository and any entity they own by 50% or more.
GL 100A, which replaces GL 100, authorizes certain transactions related to debt, equity or the conversion of currencies involving those same entities.
OFAC originally issued the licenses in June as part of a package of sanctions against Russia (see 2406120036).