November 10, 2023

OFAC issues Russia-related General License 76A to authorize wind down transactions with recently blocked entities

On November 8, 2023, the Department of Treasury’s Office of Foreign Assets Control issued an amended general license pursuant to the Russian Harmful Foreign Activities Sanctions Regulations, 31 CFR part 587.  OFAC issued General License 76A to authorize, until January 31, 2024, any wind down transaction involving one or more of the following entities that were blocked on November 2, 2023:

  • Sistema Public Joint Stock Financial Corporation;
  • Public Joint Stock Company Saint Petersburg Exchange;
  • Limited Liability Company Arctic LNG 2; or
  • Any entity in which one or more of the above persons owns a 50 percent or greater interest.


The amendment was intended to clarify that the license applies to the Public Joint Stock Company Saint Petersburg Exchange and not the Saint Petersburg Stock Exchange that was listed in GL 76 on November 2, 2023.  According to OFAC, General License 76A replaces and supersedes GL 76 in its entirety.


Department of Treasury Recent Action | General License 76A