GL-2
ActiveAuthorizing Certain Servicing Transactions Involving State Corporation Bank for Development and Foreign Economic Affairs Vnesheconombank
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Summary
General License No. 2 authorizes transactions involving Vnesheconombank (VEB), or any entity in which VEB owns 50 percent or greater interest, that are ordinarily incident and necessary to the servicing of bonds issued before March 1, 2022 by the Central Bank of the Russian Federation, the National Wealth Fund of the Russian Federation, or the Ministry of Finance of the Russian Federation. These transactions would otherwise be prohibited under Executive Order 14024. The authorization does not extend to transactions prohibited by Directive 1A under E.O. 14024 or to transactions involving other blocked persons not described in paragraph (a).
Authorized activities
- Transactions ordinarily incident and necessary to the servicing of bonds issued before March 1, 2022 by the Central Bank of the Russian Federation
- Transactions ordinarily incident and necessary to the servicing of bonds issued before March 1, 2022 by the National Wealth Fund of the Russian Federation
- Transactions ordinarily incident and necessary to the servicing of bonds issued before March 1, 2022 by the Ministry of Finance of the Russian Federation
- Such transactions involving VEB or any entity in which VEB owns, directly or indirectly, a 50 percent or greater interest
Conditions
The license does not authorize: (1) any transactions prohibited by Directive 1A under E.O. 14024 (Prohibitions Related to Certain Sovereign Debt of the Russian Federation); or (2) any transactions involving any person blocked pursuant to E.O. 14024 other than the blocked persons described in paragraph (a), unless separately authorized.