OFAC Will Let General License 9C Covering Some Russian Banks Expire

The Office of Foreign Assets Control said it will not renew the expiring General License 9C, with its authorizations set to end at 12:01 a.m. EDT on May 25. The license allowed transactions necessary to dealings in debt or equity with Bank for Development and Foreign Economic Affairs Vnesheconombank, Bank Otkritie Financial Corporation, Sovcombank Open Joint Stock Company, Sberbank of Russia and VTB Bank (see 2204080046).