GL-8L
ExpiredAuthorizing the Wind Down of Transactions Related to Energy
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Summary
General License No. 8L authorizes all transactions prohibited by E.O. 14024 involving State Corporation Bank for Development and Foreign Economic Affairs Vnesheconombank, Public Joint Stock Company Bank Financial Corporation Otkritie, Sovcombank Open Joint Stock Company, Public Joint Stock Company Sberbank of Russia, VTB Bank Public Joint Stock Company, Joint Stock Company Alfa-Bank, Public Joint Stock Company Rosbank, Bank Zenit Public Joint Stock Company, Bank Saint-Petersburg Public Joint Stock Company, the National Clearing Center (NCC), any entity 50 percent or more owned by one or more of them, or the Central Bank of the Russian Federation, that are ordinarily incident and necessary to the wind down of any transaction related to energy, through 12:01 a.m. eastern daylight time, March 12, 2025. "Related to energy" covers the extraction, production, refinement, liquefaction, gasification, regasification, conversion, enrichment, fabrication, transport, or purchase of petroleum, natural gas, other products capable of producing energy, or uranium, and the development, production, generation, transmission, or exchange of power. Effective January 10, 2025, it replaced and superseded General License No. 8K, dated October 30, 2024.
Conditions
The license does not authorize: (1) any transactions prohibited by Directive 1A under E.O. 14024 (certain sovereign debt of the Russian Federation); (2) 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; (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, 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. RuHSR General License No. 115A covers civil nuclear energy transactions involving certain entities.