Regulatory Alerts2024-10-04 | 2024-22934Publication of Russian Harmful Foreign Activities Sanctions Regulations Web General Licenses 79, 80, and 8H
The Department of the Treasury’s Office of Foreign Assets Control (OFAC) published General Licenses 79, 80, and 8H to authorize specific transactions otherwise prohibited by the Russian Harmful Foreign Activities Sanctions Regulations. General License 79 authorizes the wind down of transactions involving blocked entities such as Kyiv Square and Highland Gold Mining Limited, while General License 80 permits the divestment of covered debt or equity of Highland Gold Mining Limited to non-U.S. persons. General License 8H authorizes transactions related to energy involving major Russian financial institutions and the Central Bank of the Russian Federation, replacing the previous General License 8G.
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