GL-8K
SupersededAuthorizing Transactions Related to Energy
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Summary
General License 8K authorizes all transactions prohibited by E.O. 14024 that are related to energy and involve specified Russian financial institutions (including Vnesheconombank, Sberbank, VTB, Alfa-Bank, the Central Bank of the Russian Federation, and others) or entities they own 50% or more of. The authorization is time-limited, running through 12:01 a.m. eastern daylight time, April 30, 2025. The term 'related to energy' is broadly defined to cover extraction, production, refinement, transport, and trade of petroleum, natural gas, coal, uranium, and other energy products, as well as power generation and transmission. This license replaces and supersedes General License No. 8J in its entirety.
Authorized activities
- All energy-related transactions prohibited by E.O. 14024 involving Vnesheconombank
- All energy-related transactions prohibited by E.O. 14024 involving Public Joint Stock Company Bank Financial Corporation Otkritie
- All energy-related transactions prohibited by E.O. 14024 involving Sovcombank Open Joint Stock Company
- All energy-related transactions prohibited by E.O. 14024 involving Public Joint Stock Company Sberbank of Russia
- All energy-related transactions prohibited by E.O. 14024 involving VTB Bank Public Joint Stock Company
- All energy-related transactions prohibited by E.O. 14024 involving Joint Stock Company Alfa-Bank
- All energy-related transactions prohibited by E.O. 14024 involving Public Joint Stock Company Rosbank
- All energy-related transactions prohibited by E.O. 14024 involving Bank Zenit Public Joint Stock Company
- All energy-related transactions prohibited by E.O. 14024 involving Bank Saint-Petersburg Public Joint Stock Company
- All energy-related transactions prohibited by E.O. 14024 involving National Clearing Center (NCC)
- All energy-related transactions prohibited by E.O. 14024 involving any entity 50% or more owned by the above persons
- All energy-related transactions prohibited by E.O. 14024 involving the Central Bank of the Russian Federation
Conditions
The license does not authorize: (1) transactions prohibited by Directive 1A under E.O. 14024 (Prohibitions Related to Certain Sovereign Debt of the Russian Federation); (2) opening or maintaining correspondent or payable-through accounts for entities subject to Directive 2 under E.O. 14024; (3) any debit to an account on the books of a U.S. financial institution of the Central Bank of the Russian Federation; or (4) any transactions otherwise prohibited by the RuHSR, including those involving blocked persons not described in paragraph (a), unless separately authorized.