Publication of Revised Guidance on Entities Owned by Persons Whose Property and Interests in Property Are Blocked, 47726 [2014-19252]

Download as PDF 47726 Federal Register / Vol. 79, No. 157 / Thursday, August 14, 2014 / Notices such acts of terrorism or those persons listed in the Annex to the Order or determined to be subject to the Order or to be otherwise associated with those persons listed in the Annex to the Order or those persons determined to be subject to subsection 1(b), 1(c), or 1(d)(i) of the Order. On August 6, 2014, the Director of OFAC, in consultation with the Departments of State, Homeland Security, Justice and other relevant agencies, designated, pursuant to one or more of the criteria set forth in subsections 1(b), 1(c) or 1(d) of the Order, 3 individuals whose property and interests in property are blocked pursuant to Executive Order 13224. The listings for these individuals on OFAC’s list of Specially Designated Nationals and Blocked Persons appear as follows: Individuals 1. AL-’ANIZI, ’Abd al-Rahman Khalaf ’Ubayd Juday’ (a.k.a. AL-ANIZI, ’Abd alRahman Khalaf; a.k.a. AL-’ANZI, ’Abd al-Rahman Khalaf; a.k.a. ‘‘ABU USAMA’’; a.k.a. ‘‘AL-KUWAITI, Abu Usamah’’; a.k.a. ‘‘AL-RAHMAN, Abu Usamah’’; a.k.a. ‘‘KUWAITI, Abu Shaima’’’; a.k.a. ‘‘YUSUF’’); DOB 01 Jan 1973 to 31 Dec 1973 (individual) [SDGT]. 2. AL-AJMI, Shafi Sultan Mohammed (a.k.a. AL-AJMI, Doctor Shafi; a.k.a. ALAJMI, Sheikh Shafi; a.k.a. ‘‘SHAYKH ABU-SULTAN’’), Area 3, Street 327, Building 41, Al-Uqaylah, Kuwait; DOB 01 Jan 1973; POB Warah, Kuwait; nationality Kuwait; Passport 0216155930 (individual) [SDGT]. 3. AL-’AJMI, Hajjaj Fahd Hajjaj Muhammad Shabib (a.k.a. AJAMI, Ajaj; a.k.a. AL-ACMI, Hicac Fehid Hicac Muhammed Sebib; a.k.a. AL-AJAMI, Hajaj; a.k.a. AL-AJAMI, Sheikh Hajaj; a.k.a. AL-AJMI, Hajjaj Bin-Fahad; a.k.a. AL-AJMI, Hijaj Fahid Hijaj Muhammad Sabib); DOB 10 Aug 1987; POB Kuwait; nationality Kuwait (individual) [SDGT]. Dated: August 6, 2014. Adam J. Szubin, Director, Office of Foreign Assets Control. [FR Doc. 2014–19251 Filed 8–13–14; 8:45 am] BILLING CODE 4810–AL–P DEPARTMENT OF THE TREASURY tkelley on DSK3SPTVN1PROD with NOTICES Office of Foreign Assets Control Publication of Revised Guidance on Entities Owned by Persons Whose Property and Interests in Property Are Blocked Office of Foreign Assets Control, Treasury. AGENCY: VerDate Mar<15>2010 16:42 Aug 13, 2014 Jkt 232001 Notice, publication of revised guidance. ACTION: The Department of the Treasury’s Office of Foreign Assets Control (OFAC) is publishing Revised Guidance on Entities Owned by Persons Whose Property and Interests in Property are Blocked. DATES: Effective Date: August 14, 2014. FOR FURTHER INFORMATION CONTACT: Assistant Director for Licensing, tel.: 202–622–2480, Assistant Director for Policy, tel.: 202–622–2402, Assistant Director for Regulatory Affairs, tel.: 202– 622–4855, Assistant Director for Sanctions Compliance & Evaluation, tel.: 202–622–2490, Office of Foreign Assets Control, or Chief Counsel (Foreign Assets Control), tel.: 202–622– 2410, Office of the General Counsel, Department of the Treasury (not toll free numbers). SUPPLEMENTARY INFORMATION: SUMMARY: Electronic and Facsimile Availability The text of the Revised Guidance on Entities Owned by Persons Whose Property and Interests in Property are Blocked and additional information concerning OFAC are available from OFAC’s Web site (www.treasury.gov/ 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 OFAC today is publishing Revised Guidance on Entities Owned by Persons Whose Property and Interests in Property are Blocked. This revised guidance replaces the Guidance on Entities Owned by Persons Whose Property and Interests in Property are Blocked previously posted on OFAC’s Web site on February 14, 2008. Guidance U.S. Department of the Treasury Revised Guidance on Entities Owned by Persons Whose Property and Interests in Property Are Blocked This guidance responds to inquiries received by the Department of the Treasury’s Office of Foreign Assets Control (OFAC) relating to the status of entities owned by individuals or entities designated under Executive orders and regulations administered by OFAC. This document sets forth new guidance with respect to entities owned 50 percent or more in the aggregate by more than one blocked person. Property blocked pursuant to an Executive order or regulations administered by OFAC is broadly PO 00000 Frm 00115 Fmt 4703 Sfmt 9990 defined to include any property or interest in property, tangible or intangible, including present, future or contingent interests. A property interest subject to blocking includes interests of any nature whatsoever, direct or indirect. Persons whose property and interests in property are blocked pursuant to an Executive order or regulations administered by OFAC (blocked persons) are considered to have an interest in all property and interests in property of an entity in which such blocked persons own, whether individually or in the aggregate, directly or indirectly, a 50 percent or greater interest. Consequently, any entity owned in the aggregate, directly or indirectly, 50 percent or more by one or more blocked persons is itself considered to be a blocked person. The property and interests in property of such an entity are blocked regardless of whether the entity itself is listed in the annex to an Executive order or otherwise placed on OFAC’s list of Specially Designated Nationals (‘‘SDNs’’). Accordingly, a U.S. person generally may not engage in any transactions with such an entity, unless authorized by OFAC. In certain OFAC sanctions programs (e.g., Cuba and Sudan), there is a broader category of entities whose property and interests in property are blocked based on, for example, ownership or control. U.S. persons are advised to act with caution when considering a transaction with a non-blocked entity in which one or more blocked persons has a significant ownership interest that is less than 50 percent or which one or more blocked persons may control by means other than a majority ownership interest. Such entities may be the subject of future designation or enforcement action by OFAC. Furthermore, a U.S. person may not procure goods, services, or technology from, or engage in transactions with, a blocked person directly or indirectly (including through a third-party intermediary). OFAC will incorporate this guidance as it issues regulations implementing new sanctions programs. In addition, OFAC expects to amend regulations implementing existing sanctions programs to reflect this guidance. Issued: August 14, 2014. Dated: August 7, 2014. Adam J. Szubin, Director, Office of Foreign Assets Control. [FR Doc. 2014–19252 Filed 8–13–14; 8:45 am] BILLING CODE 4810–AL–P E:\FR\FM\14AUN1.SGM 14AUN1

Agencies

[Federal Register Volume 79, Number 157 (Thursday, August 14, 2014)]
[Notices]
[Page 47726]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-19252]


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DEPARTMENT OF THE TREASURY

Office of Foreign Assets Control


Publication of Revised Guidance on Entities Owned by Persons 
Whose Property and Interests in Property Are Blocked

AGENCY: Office of Foreign Assets Control, Treasury.

ACTION: Notice, publication of revised guidance.

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SUMMARY: The Department of the Treasury's Office of Foreign Assets 
Control (OFAC) is publishing Revised Guidance on Entities Owned by 
Persons Whose Property and Interests in Property are Blocked.

DATES: Effective Date: August 14, 2014.

FOR FURTHER INFORMATION CONTACT: Assistant Director for Licensing, 
tel.: 202-622-2480, Assistant Director for Policy, tel.: 202-622-2402, 
Assistant Director for Regulatory Affairs, tel.: 202-622-4855, 
Assistant Director for Sanctions Compliance & Evaluation, tel.: 202-
622-2490, Office of Foreign Assets Control, or Chief Counsel (Foreign 
Assets Control), tel.: 202-622-2410, Office of the General Counsel, 
Department of the Treasury (not toll free numbers).

SUPPLEMENTARY INFORMATION: 

Electronic and Facsimile Availability

    The text of the Revised Guidance on Entities Owned by Persons Whose 
Property and Interests in Property are Blocked and additional 
information concerning OFAC are available from OFAC's Web site 
(www.treasury.gov/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

    OFAC today is publishing Revised Guidance on Entities Owned by 
Persons Whose Property and Interests in Property are Blocked. This 
revised guidance replaces the Guidance on Entities Owned by Persons 
Whose Property and Interests in Property are Blocked previously posted 
on OFAC's Web site on February 14, 2008.

Guidance

U.S. Department of the Treasury

Revised Guidance on Entities Owned by Persons Whose Property and 
Interests in Property Are Blocked

    This guidance responds to inquiries received by the Department of 
the Treasury's Office of Foreign Assets Control (OFAC) relating to the 
status of entities owned by individuals or entities designated under 
Executive orders and regulations administered by OFAC. This document 
sets forth new guidance with respect to entities owned 50 percent or 
more in the aggregate by more than one blocked person.
    Property blocked pursuant to an Executive order or regulations 
administered by OFAC is broadly defined to include any property or 
interest in property, tangible or intangible, including present, future 
or contingent interests. A property interest subject to blocking 
includes interests of any nature whatsoever, direct or indirect.
    Persons whose property and interests in property are blocked 
pursuant to an Executive order or regulations administered by OFAC 
(blocked persons) are considered to have an interest in all property 
and interests in property of an entity in which such blocked persons 
own, whether individually or in the aggregate, directly or indirectly, 
a 50 percent or greater interest. Consequently, any entity owned in the 
aggregate, directly or indirectly, 50 percent or more by one or more 
blocked persons is itself considered to be a blocked person. The 
property and interests in property of such an entity are blocked 
regardless of whether the entity itself is listed in the annex to an 
Executive order or otherwise placed on OFAC's list of Specially 
Designated Nationals (``SDNs''). Accordingly, a U.S. person generally 
may not engage in any transactions with such an entity, unless 
authorized by OFAC. In certain OFAC sanctions programs (e.g., Cuba and 
Sudan), there is a broader category of entities whose property and 
interests in property are blocked based on, for example, ownership or 
control.
    U.S. persons are advised to act with caution when considering a 
transaction with a non-blocked entity in which one or more blocked 
persons has a significant ownership interest that is less than 50 
percent or which one or more blocked persons may control by means other 
than a majority ownership interest. Such entities may be the subject of 
future designation or enforcement action by OFAC. Furthermore, a U.S. 
person may not procure goods, services, or technology from, or engage 
in transactions with, a blocked person directly or indirectly 
(including through a third-party intermediary).
    OFAC will incorporate this guidance as it issues regulations 
implementing new sanctions programs. In addition, OFAC expects to amend 
regulations implementing existing sanctions programs to reflect this 
guidance.
    Issued: August 14, 2014.

    Dated: August 7, 2014.
Adam J. Szubin,
Director, Office of Foreign Assets Control.
[FR Doc. 2014-19252 Filed 8-13-14; 8:45 am]
BILLING CODE 4810-AL-P