On 2nd May, OFAC issued Ukraine/Russia-related General License 12B, which replaces and supersedes General License 12A in its entirety and permits originating and intermediary US financial institutions to process funds transfers that they would otherwise block to an account held by a blocked US person at a US financial institution. In addition, it clarifies that US financial institutions can release such funds for authorised maintenance and wind-down purposes. OFAC also issued General License 13A, which replaces and supersedes General License 13 in its entirety and authorises transactions and activities necessary to divest or transfer debt, equity or other holdings in EN+ Group, GAZ Group, or United Company RUSAL PLC. It also authorises such transactions in entities in which those persons own, directly or indirectly, a 50% or greater interest, provided that such debt, equity, or other holdings were issued by Irkutskenergo, GAZ Auto Plant, or Rusal Capital Designated Activity Company. OFAC is also publishing 3 new FAQ and revisions to several existing FAQ about these general licences.
https://www.treasury.gov/resource-center/sanctions/OFAC-Enforcement/Pages/OFAC-Recent-Actions.aspx
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