GL-132

Summary

General License No. 132 authorizes all transactions otherwise prohibited by Executive Order 14024 that involve the Paks II civil nuclear power plant project in Hungary (including Paks II. Nuclear Power Plant Private Limited Company or any successor project), where those transactions involve one or more of thirteen specified Russian financial entities. The authorized entities include major Russian banks such as Gazprombank, Sberbank, VTB Bank, Alfa-Bank, Rosbank, and others, as well as the Central Bank of the Russian Federation and any entity 50% or more owned by the listed persons. The license is subject to several carve-outs, including prohibitions on correspondent/payable-through accounts, debits to U.S. financial institution accounts of the Central Bank of Russia, National Wealth Fund, or Ministry of Finance, and any other transactions prohibited by the RuHSR not separately authorized.

Authorized activities

• All transactions prohibited by E.O. 14024 involving the Paks II civil nuclear power plant project in Hungary (Paks II), including Paks II. Nuclear Power Plant Private Limited Company, or any successor project to the Paks II, that involve Gazprombank Joint Stock Company
• Transactions involving State Corporation Bank for Development and Foreign Economic Affairs Vnesheconombank
• Transactions involving Public Joint Stock Company Bank Financial Corporation Otkritie
• Transactions involving Sovcombank Open Joint Stock Company
• Transactions involving Public Joint Stock Company Sberbank of Russia
• Transactions involving VTB Bank Public Joint Stock Company
• Transactions involving Joint Stock Company Alfa-Bank
• Transactions involving Public Joint Stock Company Rosbank
• Transactions involving Bank Zenit Public Joint Stock Company
• Transactions involving Bank Saint-Petersburg Public Joint Stock Company
• Transactions involving National Clearing Center (NCC)
• Transactions involving any entity in which one or more of the above persons own, directly or indirectly, individually or in the aggregate, a 50 percent or greater interest
• Transactions involving the Central Bank of the Russian Federation

Conditions

The license does not authorize: (1) the opening or maintaining of a correspondent account or payable-through account for or on behalf of any entity subject to Directive 2 under E.O. 14024; (2) any debit to an account on the books of a U.S. financial institution of the Central Bank of the Russian Federation, the National Wealth Fund of the Russian Federation, or the Ministry of Finance; or (3) any transactions otherwise prohibited by the RuHSR (31 CFR part 587), including transactions involving any person blocked pursuant to the RuHSR other than the blocked persons described in paragraph (a), unless separately authorized.