Russia: Metalloinvest AO - Securities subject to OFAC General License 63

10.05.2023

On 12 April 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) published the General License 63 authorising transactions that are ordinarily incident and necessary to divestment or transfer, or the facilitation of the divestment or transfer, of debt or equity of Holdingovaya Kompaniya Metalloinvest AO – or entities in which they own, directly or indirectly a 50% or greater interest – purchased prior to 12 April 2023 to a non U.S. person until Tuesday, 11 July 2023.

Impact on clients

Clearstream Banking1 has identified the following securities that are subject to General License 63:

Common code

ISIN

Security name

240064928

US59126LAB45

USD 3,375 METALLOINVEST F (144A) 21-2028

240004097

XS2400040973

USD 3,375 METALLOINVEST F (REGS) 21-2028

Clearstream Banking will close the impacted securities for settlement on 7 July 2023 at 16:00, unless the end date of the General License 63 is amended on the U.S. Department of Treasury’s website.

For transactions under General License 63, clients are expected to carry out the requisite level of due diligence in order to ensure and be able to confirm to us that any instructions relating to impacted securities fall within the scope of permitted activities under General License 63, and that they do not violate OFAC or other applicable sanctions. By sending Clearstream Banking an instruction for the impacted securities, the client is deemed to have made an appropriate determination of compliance with all applicable sanctions, including those of the EU, United Kingdom and the United States.

Further information

For further information, clients may contact Clearstream Banking Client Services or their Relationship Officer.

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1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG (for Clearstream Banking AG clients using Creation Accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany, and registered in Register B of the Amtsgericht Frankfurt am Main, Germany, under number HRB 7500.