The US Treasury Department has extended permission to complete certain financial transactions with sanctioned Russian entities until October 12, 2024. This is stated in the relevant license, EP reports.
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This includes such organizations as the Moscow Exchange, the National Clearing Center and the National Settlement Depository.
In particular, the completion of the following operations is permitted:
- Closing transactions with blocked institutions if payments are made to special blocked accounts. Sale or transfer of debt or equity issued or guaranteed by these institutions, if the purchaser is not a U.S. person. Completion of debt and equity agreements entered into before June 12, 2024. Closing of derivative contracts entered into before June 12, 2024, provided that payments are made to blocked accounts.
However, there is an important restriction: transactions related to correspondent accounts and operations with the Central Bank of Russia, the National Welfare Fund of Russia and the Ministry of Finance of Russia are prohibited.
These new rules come into force on August 2, 2024, and replace the previous licenses issued in June 2024.
- Dollar Sanctions
