GL-V

Summary

General License V, issued under Executive Order 13902 ('Imposing Sanctions With Respect to Additional Sectors of Iran'), authorizes transactions otherwise prohibited by E.O. 13902 that are ordinarily incident and necessary to the wind down of any transaction involving Hengli Petrochemical (Dalian) Refinery Co., Ltd. or any entity in which it holds a 50 percent or greater interest, directly or indirectly. The authorization is time-limited and subject to specific payment conditions. It does not extend to other blocked persons under E.O. 13902 beyond those described in the license.

Authorized activities

• Wind down of transactions involving Hengli Petrochemical (Dalian) Refinery Co., Ltd.
• Wind down of transactions involving any entity in which Hengli Petrochemical owns, directly or indirectly, a 50 percent or greater interest

Conditions

Any payment to a blocked person must be made into a blocked, interest-bearing account located in the United States. The license does not authorize any transactions involving persons blocked pursuant to E.O. 13902 other than Hengli Petrochemical and its 50-percent-or-greater-owned subsidiaries, unless separately authorized.