U.S. Extends General License Allowing Certain Administrative Transactions with the Russian Government
On September 8, the U.S. Office of Foreign Assets Control (OFAC) extended a general license authorizing certain administrative transactions involving the Central Bank of the Russian Federation, the National Wealth Fund of the Russian Federation, and the Ministry of Finance of the Russian Federation. The new General License 13B authorizes U.S. persons and entities owned or controlled by U.S. persons to pay taxes, fees, or import duties, and purchase or receive permits, licenses, registrations, or certifications provided that those transactions are ordinarily incident and necessary to day-to-day operations in Russia.
A previous version of the general license was set to expire on September 30, 2022. As with prior versions of the general license, General License 13B does not authorize debits from accounts of the Central Bank of the Russian Federation, the National Wealth Fund of the Russian Federation, or the Ministry of Finance of the Russian Federation. Nor does GL 13B authorize any transactions otherwise prohibited by the Russian Harmful Foreign Activities Sanctions Regulations (RuHSR), including transactions involving any person blocked pursuant to the RuHSR, unless separately authorized.
Tags: Russia sanctions