Frequently Asked Questions

571. I am a U.S. person holding accounts for or other property of an entity or individual that was designated under E.O. 13661 or E.O. 13662, or blocked pursuant to OFAC’s 50 Percent Rule on April 6, 2018 as a result of such a designation.  Does General License (GL) 13R allow me to unblock this property?

Answer

No.  Until 12:01 a.m. eastern daylight time, May 25, 2022, GL 13R authorizes certain divestment and transfer activities related to debt, equity, or other holdings in GAZ Group, or in entities in which GAZ Group owns, directly or indirectly, a 50 percent or greater interest, that were issued by GAZ Auto Plant (“Other Issuer Holdings”), subject to certain conditions and exceptions.  It does not authorize U.S. persons to sell debt, equity, or other holdings to; to purchase or invest in debt, equity, or other holdings in; or to facilitate such transactions with, directly or indirectly, GAZ Group or any other blocked person, other than transactions and activities involving GAZ Group, or entities in which GAZ Group owns, directly or indirectly, a 50 percent or greater interest that are ordinarily incident and necessary to the divestment or transfer of debt, equity, or other holdings in these entities.

GL 13R superseded GL 13Q on April 25, 2022.  After the expiration of GL 13Q, U.S. persons will be prohibited from engaging in any divestment or transfer activities on behalf of U.S. persons or non-U.S. persons related to debt, equity, or other holdings that previously were authorized by GL 13Q.

Date Updated: April 25, 2022

 

Date Released
July 22, 2020