GL-46

Summary

General License No. 46 authorizes all transactions related to the establishment, administration, participation in, and execution of an auction process announced by the EMEA Credit Derivatives Determination Committee to settle credit derivative transactions referencing the Russian Federation that are prohibited by E.O. 14071. It also permits U.S. persons to purchase or receive Russian Federation debt obligations during a defined window around the auction date, and covers all transactions ordinarily incident and necessary to facilitating, clearing, and settling those authorized transactions.

Authorized activities

• All transactions related to the establishment, administration, participation in, and execution of the EMEA Credit Derivatives Determination Committee auction to settle credit derivative transactions referencing the Russian Federation
• Purchase or receipt of debt obligations of the Russian Federation by U.S. persons during the period beginning two business days prior to the announced auction date and ending eight business days after the conclusion of the auction
• All transactions ordinarily incident and necessary to facilitating, clearing, and settling transactions authorized by paragraphs (a) or (b) of this general license

Conditions

This general license does not authorize any transactions otherwise prohibited by the Russian Harmful Foreign Activities Sanctions Regulations, 31 CFR part 587 (RuHSR), including transactions involving any person blocked pursuant to the RuHSR, unless separately authorized. The purchase or receipt of Russian Federation debt obligations is only authorized for the window beginning two business days prior to the announced auction date and ending eight business days after the conclusion of the auction.