The Office of Foreign Assets Control, OFAC, has issued a new General License (GL 69) to permit otherwise prohibited financial transactions due to sanction measures imposed on the Russian Federation pursuant to Executive Order 14024.
Specifically, GL 69 permits financial transactions in relation to payments of interest or principal of debt securities issued by the International Investment Bank provided that such payments are not made to persons „located in the Russian Federation“ and that payments to accounts of designated persons are only made to blocked accounts.
Please note that the license is time-limited up to June 30, 2023.
Other Features
asset freezing
banks
bonds
payment services
sanctions
Ukrainian conflict
Date Published: 2023-05-31
Regulatory Framework: US Sanctions
Regulatory Type: procedure
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