GL-117

Summary

General License No. 117 authorizes all transactions prohibited by E.O. 14024 that are ordinarily incident and necessary to the wind down of any transaction involving the blocked entities listed in the Annex, or any entity in which those blocked entities own a 50 percent or greater interest. The authorization is time-limited and requires that any payment to a blocked person be made into a blocked account in accordance with the Russian Harmful Foreign Activities Sanctions Regulations (RuHSR), 31 CFR part 587. Certain categories of transactions remain excluded from this authorization, including those prohibited by Directives 2 and 4 under E.O. 14024 and other RuHSR-prohibited transactions not covered by the license.

Authorized activities

• Wind down of transactions involving blocked entities listed in the Annex to General License No. 117
• Wind down of transactions involving entities in which listed blocked entities own, directly or indirectly, individually or in the aggregate, a 50 percent or greater interest
• Payments to a blocked person, provided such payments are made into a blocked account in accordance with the RuHSR

Conditions

Payments to a blocked person must be made into a blocked account in accordance with the RuHSR. The license does not authorize: (1) transactions prohibited by Directive 2 under E.O. 14024 (correspondent or payable-through accounts); (2) transactions prohibited by Directive 4 under E.O. 14024 (Central Bank of Russia, National Wealth Fund, Ministry of Finance of Russia); or (3) any other transactions prohibited by the RuHSR involving persons blocked pursuant to the RuHSR other than those described in paragraph (a), unless separately authorized.