The current US administration has issued General License GL-115C, which temporarily exempts a whole list of large Russian banks "related to civil nuclear energy" from US sanctions.
Points of attention
- The Trump administration has temporarily exempted several large Russian banks from US sanctions with General License GL-115C, related to civil nuclear energy.
- Document GL-115C permits previously prohibited operations until 2026 for specific organizations in Russia, excluding banks like Sberbank of Russia and VTB Bank from the sanctions suspension.
- A list of organizations subject to the suspension of sanctions includes prominent names like Gazprombank, Vnesheconombank, and Alfa-Bank, among others.
The US lifted sanctions on several Russian banks
The text of the document was published on December 17 on the official website of the US Treasury Department.
Except as provided in paragraph (c) of this General License, all transactions prohibited by Executive Order 14024 involving one or more of the entities listed above related to civil nuclear energy are permitted until 12:01 a.m. Eastern Daylight Time on June 18, 2026.
At the same time, a list of organizations subject to the suspension of sanctions is determined:
Joint-Stock Company "Gazprombank";
State Corporation "Bank for Development and Foreign Economic Activity", "Vnesheconombank";
PJSC "Bank" Financial Corporation "Otkritie";
OJSC "Sovkombank";
PJSC "Sberbank of Russia";
PJSC "VTB Bank";
JSC "Alfa-Bank";
PJSC "Rossbank";
Bank Zenit PJSC;
PJSC "Bank of Saint Petersburg";
National Clearing Center (NCC);
Any organization in which one or more of the above-mentioned legal entities own, directly or indirectly, individually or in the aggregate, a stake of 50% or more;
Central Bank of the Russian Federation.
It is clarified that the term "civil nuclear energy-related" means operations carried out exclusively in support of civil nuclear projects initiated before November 21, 2024.
This is not the first time the Trump administration has suspended or lifted sanctions against Russia. In particular, in July, ahead of the Trump-Putin "summit" in Alaska, several Russian banks, institutions, and individuals were removed from the "blacklist."
