OFAC Implementation of Certain Sanctions Imposed on Three Persons by the Secretary of State Pursuant to the Iran Sanctions Act of 1996, as Amended, 8957-8958 [2012-3462]

Download as PDF Federal Register / Vol. 77, No. 31 / Wednesday, February 15, 2012 / Notices A Certificate of Authority as an acceptable surety on Federal bonds is hereby issued under 31 U.S.C. 9305 to the following company: Grange Insurance Company of Michigan (NAIC# 11136). Business Address: 671 South High Street, P.O. Box 1218, Columbus, OH 43216–1218. Phone: (614) 445–2900. Underwriting Limitation b/: $2,826,000. Surety Licenses Cl: MI, OH, Incorporated In: Ohio. Federal bond-approving officers should annotate their reference copies of the Treasury Circular 570 (‘‘Circular’’), 2011 Revision, to reflect this addition. Certificates of Authority expire on June 30th each year, unless revoked prior to that date. The Certificates are subject to subsequent annual renewal as long as the companies remain qualified (see 31 CFR part 223). A list of qualified companies is published annually as of July 1st in the Circular, which outlines details as to the underwriting limitations, areas in which companies are licensed to transact surety business, and other information. The Circular may be viewed and downloaded through the Internet at https://www.fms.treas.gov/c570. Questions concerning this Notice may be directed to the U.S. Department of the Treasury, Financial Management Service, Financial Accounting and Services Division, Surety Bond Branch, 3700 East-West Highway, Room 6F01, Hyattsville, MD 20782. SUPPLEMENTARY INFORMATION: Dated: January 31, 2012. Laura Carrico, Director, Financial Accounting and Services Division, Financial Management Service. [FR Doc. 2012–3475 Filed 2–14–12; 8:45 am] BILLING CODE 4810–35–M DEPARTMENT OF THE TREASURY Office of Foreign Assets Control OFAC Implementation of Certain Sanctions Imposed on Three Persons by the Secretary of State Pursuant to the Iran Sanctions Act of 1996, as Amended Office of Foreign Assets Control, Treasury. ACTION: Notice. sroberts on DSK5SPTVN1PROD with NOTICES AGENCY: The Treasury Department’s Office of Foreign Assets Control (‘‘OFAC’’) is taking action to implement certain of the sanctions imposed on three persons by the Secretary of State pursuant to the Iran Sanctions Act of 1996 (Pub. L. 104–172) (50 U.S.C. 1701 SUMMARY: VerDate Mar<15>2010 17:09 Feb 14, 2012 Jkt 226001 note) (‘‘ISA’’), as amended by the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 (Pub. L. 111–195) (22 U.S.C. 8501– 8551) (‘‘CISADA’’). DATES: OFAC’s action to implement the sanctions on FAL OIL COMPANY LTD, KUO OIL (S) PTE. LIMITED, and ZHUHAI ZHENRONG COMPANY was taken on January 12, 2012. The effective date for these actions is February 15, 2012 or the date of actual notice, whichever is earlier. FOR FURTHER INFORMATION CONTACT: Assistant Director for Sanctions Compliance and Evaluation Office of Foreign Assets Control, Department of the Treasury, Washington, DC 20220, tel.: (202) 622–2490. SUPPLEMENTARY INFORMATION: Electronic and Facsimile Availability This document and additional information concerning OFAC are available from OFAC’s Web site (https:// www.treasury.gov/offices/enforcement/ ofac). Certain general information pertaining to OFAC’s sanctions programs also is available via facsimile through a 24 hour fax-on-demand service, tel.: (202) 622–0077. Background ISA, as amended by CISADA, requires the Secretary of State, pursuant to authority delegated by the President, to impose or waive sanctions on persons determined to have made certain investments in Iran’s energy sector or to have engaged in certain activities relating to Iran’s refined petroleum sector. Executive Order 13574 of May 23, 2011, ‘‘Authorizing the Implementation of Certain Sanctions Set Forth in the Iran Sanctions Act of 1996, as Amended,’’ requires the Secretary of the Treasury, pursuant to authority under the International Emergency Economic Powers Act (50 U.S.C. 1701– 1706), to implement certain of the sanctions imposed by the Secretary of State under ISA, as amended by CISADA. The five ISA sanctions that the Secretary of the Treasury is responsible for implementing are: (i) With respect to section 6(a)(3) of ISA, to prohibit any United States financial institution from making loans or providing credits to a person sanctioned under ISA consistent with section 6(a)(3) of ISA; (ii) with respect to section 6(a)(6) of ISA, to prohibit any transactions in foreign exchange that are subject to the jurisdiction of the United States and in which a person sanctioned under ISA has any interest; (iii) with respect to section 6(a)(7) of ISA, to prohibit any PO 00000 Frm 00157 Fmt 4703 Sfmt 4703 8957 transfers of credit or payments between financial institutions or by, through, or to any financial institution, to the extent that such transfers or payments are subject to the jurisdiction of the United States and involve any interest of a person sanctioned under ISA; (iv) with respect to section 6(a)(8) of ISA, to block all property and interests in property that are in the United States, that come within the United States, or that are or come within the possession or control of any United States person, including any overseas branch, of a person sanctioned under ISA, and provide that such property and interests in property may not be transferred, paid, exported, withdrawn, or otherwise dealt in; and (v) with respect to section 6(a)(9) of ISA, to restrict or prohibit imports of goods, technology, or services, directly or indirectly, into the United States from a person sanctioned under ISA. The Secretary of State recently imposed ISA sanctions on three persons. See 77 FR 4389 (Jan. 27, 2012), which provides the names of the three persons subject to sanctions, as well as a complete list of the sanctions imposed on each person. Pursuant to Executive Order 13574, the Secretary of the Treasury is responsible for implementing certain of the sanctions imposed by the Secretary of State. Accordingly, the Director of OFAC, acting pursuant to delegated authority, has taken the actions described below to implement those sanctions set forth in Executive Order 13574 with respect to the three persons listed below. 1. FAL OIL COMPANY LTD., Sultan Al Awal Street (Sheikh Sultan Bin Awal Road), Near Mina Sea Port, Near Mina Khalid Road, Al Khan Area, Sharjah, Sharjah, U.A.E., Telephone: 97165029999; Telephone: 97165280861; Telephone: 97165286666; Telephone: 97165283334; Telephone: 97165283323; Telephone: 97165022234; Telephone: 97165029999; Telephone: 97165029804; Telephone: 97165029914; Telephone: 97165029824; Telephone: 97165281737; Telephone: 97165029814; Telephone: 97165029825; Telephone: 97165029840; Telephone: 97165029863; Telephone: 97165029842; Telephone: 97165029819; Telephone: 97165029836; Telephone: 97168029939; Fax: 97165281437; Fax: 97165280861: The Director of OFAC has prohibited United States financial institutions from making loans or providing credits totaling more than $10,000,000 in any 12-month period to FAL OIL COMPANY LTD. unless it is engaged in activities to relieve human suffering and the loans or credits are provided for such activities. E:\FR\FM\15FEN1.SGM 15FEN1 8958 Federal Register / Vol. 77, No. 31 / Wednesday, February 15, 2012 / Notices sroberts on DSK5SPTVN1PROD with NOTICES 2. KUO OIL (S) PTE. LIMITED, 200 Cantonment Road, #15–00, Southpoint, Singapore, 089763, Singapore, Telephone: 6563184677; Fax: 6562243040: The Director of OFAC has prohibited United States financial institutions from making loans or providing credits totaling more than $10,000,000 in any 12-month period to KUO OIL (S) PTE. LIMITED unless it is engaged in VerDate Mar<15>2010 17:09 Feb 14, 2012 Jkt 226001 activities to relieve human suffering and the loans or credits are provided for such activities. 3. ZHUHAI ZHENRONG COMPANY, Zhenrong Building, 121 DaTunli, Chaoyang District, Beijing, 100108, China, Telephone: 861052925900; Fax: 861052025900: The Director of OFAC has prohibited United States financial institutions from making loans or providing credits PO 00000 Frm 00158 Fmt 4703 Sfmt 9990 totaling more than $10,000,000 in any 12-month period to ZHUHAI ZHENRONG COMPANY unless it is engaged in activities to relieve human suffering and the loans or credits are provided for such activities. Dated: February 7, 2012. Adam J. Szubin, Director, Office of Foreign Assets Control. [FR Doc. 2012–3462 Filed 2–14–12; 8:45 am] BILLING CODE 4810–AL–P E:\FR\FM\15FEN1.SGM 15FEN1

Agencies

[Federal Register Volume 77, Number 31 (Wednesday, February 15, 2012)]
[Notices]
[Pages 8957-8958]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-3462]


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DEPARTMENT OF THE TREASURY

Office of Foreign Assets Control


OFAC Implementation of Certain Sanctions Imposed on Three Persons 
by the Secretary of State Pursuant to the Iran Sanctions Act of 1996, 
as Amended

AGENCY: Office of Foreign Assets Control, Treasury.

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: The Treasury Department's Office of Foreign Assets Control 
(``OFAC'') is taking action to implement certain of the sanctions 
imposed on three persons by the Secretary of State pursuant to the Iran 
Sanctions Act of 1996 (Pub. L. 104-172) (50 U.S.C. 1701 note) 
(``ISA''), as amended by the Comprehensive Iran Sanctions, 
Accountability, and Divestment Act of 2010 (Pub. L. 111-195) (22 U.S.C. 
8501-8551) (``CISADA'').

DATES: OFAC's action to implement the sanctions on FAL OIL COMPANY LTD, 
KUO OIL (S) PTE. LIMITED, and ZHUHAI ZHENRONG COMPANY was taken on 
January 12, 2012. The effective date for these actions is February 15, 
2012 or the date of actual notice, whichever is earlier.

FOR FURTHER INFORMATION CONTACT: Assistant Director for Sanctions 
Compliance and Evaluation Office of Foreign Assets Control, Department 
of the Treasury, Washington, DC 20220, tel.: (202) 622-2490.

SUPPLEMENTARY INFORMATION: 

Electronic and Facsimile Availability

    This document and additional information concerning OFAC are 
available from OFAC's Web site (https://www.treasury.gov/offices/enforcement/ofac). Certain general information pertaining to OFAC's 
sanctions programs also is available via facsimile through a 24 hour 
fax-on-demand service, tel.: (202) 622-0077.

Background

    ISA, as amended by CISADA, requires the Secretary of State, 
pursuant to authority delegated by the President, to impose or waive 
sanctions on persons determined to have made certain investments in 
Iran's energy sector or to have engaged in certain activities relating 
to Iran's refined petroleum sector. Executive Order 13574 of May 23, 
2011, ``Authorizing the Implementation of Certain Sanctions Set Forth 
in the Iran Sanctions Act of 1996, as Amended,'' requires the Secretary 
of the Treasury, pursuant to authority under the International 
Emergency Economic Powers Act (50 U.S.C. 1701-1706), to implement 
certain of the sanctions imposed by the Secretary of State under ISA, 
as amended by CISADA.
    The five ISA sanctions that the Secretary of the Treasury is 
responsible for implementing are: (i) With respect to section 6(a)(3) 
of ISA, to prohibit any United States financial institution from making 
loans or providing credits to a person sanctioned under ISA consistent 
with section 6(a)(3) of ISA; (ii) with respect to section 6(a)(6) of 
ISA, to prohibit any transactions in foreign exchange that are subject 
to the jurisdiction of the United States and in which a person 
sanctioned under ISA has any interest; (iii) with respect to section 
6(a)(7) of ISA, to prohibit any transfers of credit or payments between 
financial institutions or by, through, or to any financial institution, 
to the extent that such transfers or payments are subject to the 
jurisdiction of the United States and involve any interest of a person 
sanctioned under ISA; (iv) with respect to section 6(a)(8) of ISA, to 
block all property and interests in property that are in the United 
States, that come within the United States, or that are or come within 
the possession or control of any United States person, including any 
overseas branch, of a person sanctioned under ISA, and provide that 
such property and interests in property may not be transferred, paid, 
exported, withdrawn, or otherwise dealt in; and (v) with respect to 
section 6(a)(9) of ISA, to restrict or prohibit imports of goods, 
technology, or services, directly or indirectly, into the United States 
from a person sanctioned under ISA.
    The Secretary of State recently imposed ISA sanctions on three 
persons. See 77 FR 4389 (Jan. 27, 2012), which provides the names of 
the three persons subject to sanctions, as well as a complete list of 
the sanctions imposed on each person. Pursuant to Executive Order 
13574, the Secretary of the Treasury is responsible for implementing 
certain of the sanctions imposed by the Secretary of State. 
Accordingly, the Director of OFAC, acting pursuant to delegated 
authority, has taken the actions described below to implement those 
sanctions set forth in Executive Order 13574 with respect to the three 
persons listed below.
    1. FAL OIL COMPANY LTD., Sultan Al Awal Street (Sheikh Sultan Bin 
Awal Road), Near Mina Sea Port, Near Mina Khalid Road, Al Khan Area, 
Sharjah, Sharjah, U.A.E., Telephone: 97165029999; Telephone: 
97165280861; Telephone: 97165286666; Telephone: 97165283334; Telephone: 
97165283323; Telephone: 97165022234; Telephone: 97165029999; Telephone: 
97165029804; Telephone: 97165029914; Telephone: 97165029824; Telephone: 
97165281737; Telephone: 97165029814; Telephone: 97165029825; Telephone: 
97165029840; Telephone: 97165029863; Telephone: 97165029842; Telephone: 
97165029819; Telephone: 97165029836; Telephone: 97168029939; Fax: 
97165281437; Fax: 97165280861:
    The Director of OFAC has prohibited United States financial 
institutions from making loans or providing credits totaling more than 
$10,000,000 in any 12-month period to FAL OIL COMPANY LTD. unless it is 
engaged in activities to relieve human suffering and the loans or 
credits are provided for such activities.

[[Page 8958]]

    2. KUO OIL (S) PTE. LIMITED, 200 Cantonment Road, 15-00, 
Southpoint, Singapore, 089763, Singapore, Telephone: 6563184677; Fax: 
6562243040:
    The Director of OFAC has prohibited United States financial 
institutions from making loans or providing credits totaling more than 
$10,000,000 in any 12-month period to KUO OIL (S) PTE. LIMITED unless 
it is engaged in activities to relieve human suffering and the loans or 
credits are provided for such activities.
    3. ZHUHAI ZHENRONG COMPANY, Zhenrong Building, 121 DaTunli, 
Chaoyang District, Beijing, 100108, China, Telephone: 861052925900; 
Fax: 861052025900:
    The Director of OFAC has prohibited United States financial 
institutions from making loans or providing credits totaling more than 
$10,000,000 in any 12-month period to ZHUHAI ZHENRONG COMPANY unless it 
is engaged in activities to relieve human suffering and the loans or 
credits are provided for such activities.

    Dated: February 7, 2012.
Adam J. Szubin,
Director, Office of Foreign Assets Control.
[FR Doc. 2012-3462 Filed 2-14-12; 8:45 am]
BILLING CODE 4810-AL-P

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