Publication of Russian Harmful Foreign Activities Sanctions Regulations Web General Licenses 40A, 43A, 47, 48, and 49, 54894-54897 [2022-19311]
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54894
Federal Register / Vol. 87, No. 173 / Thursday, September 8, 2022 / Rules and Regulations
transactions involving any person
blocked pursuant to the RuHSR other
than the blocked persons described in
paragraph (a) of this general license,
unless separately authorized.
(c) Effective August 3, 2022, General
License No. 47, dated August 2, 2022, is
replaced and superseded in its entirety
by this General License No. 47A.
Bradley T. Smith,
Deputy Director, Office of Foreign Assets
Control.
Dated: August 3, 2022.
OFFICE OF FOREIGN ASSETS
CONTROL
Russian Harmful Foreign Activities
Sanctions Regulations
31 CFR Part 587
khammond on DSKJM1Z7X2PROD with RULES
GENERAL LICENSE NO. 48A
Divestment or Transfer of Debt or
Equity of, and Wind Down of Derivative
Contracts Involving, Certain Entities
Blocked on August 2, 2022
(a)(1) Except as provided in
paragraphs (c) and (d) of this general
license, all transactions prohibited by
Executive Order (E.O.) 14024 that are
ordinarily incident and necessary to the
divestment or transfer, or facilitation of
the divestment or transfer, of debt or
equity of one or more of the following
entities purchased prior to August 2,
2022 (‘‘covered debt or equity’’) to a
non-U.S. person are authorized through
12:01 a.m. eastern daylight time,
October 3, 2022:
(i) Publichnoe Aktsionernoe
Obschestvo Magnitogorskiy
Metallurgicheskiy Kombinat;
(ii) Joint Stock Company State
Transportation Leasing Company; or
(iii) Any entity in which one or more
of the above entities own, directly or
indirectly, individually or in the
aggregate, a 50 percent or greater
interest.
(2) Except as provided in paragraphs
(c) and (d) of this general license, all
transactions prohibited by E.O. 14024
that are ordinarily incident and
necessary to facilitating, clearing, and
settling trades of covered debt or equity
are authorized through 12:01 a.m.
eastern daylight time, October 31, 2022,
provided that such trades were placed
prior to 4:00 p.m. eastern daylight time,
August 2, 2022.
(b) Except as provided in paragraph
(d) of this general license, all
transactions prohibited by E.O. 14024
that are ordinarily incident and
necessary to the wind down of
derivative contracts entered into prior to
August 2, 2022, that (i) include a
blocked person described in paragraph
(a) of this general license as a
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counterparty or (ii) are linked to covered
debt or equity are authorized through
12:01 a.m. eastern daylight time,
October 3, 2022, provided that any
payments to a blocked person are made
into a blocked account in accordance
with the Russian Harmful Foreign
Activities Sanctions Regulations, 31
CFR part 587 (RuHSR).
(c) Paragraph (a) of this general
license does not authorize:
(1) U.S. persons to sell, or to facilitate
the sale of, covered debt or equity to,
directly or indirectly, any person whose
property and interests in property are
blocked; or
(2) U.S. persons to purchase or invest
in, or to facilitate the purchase of or
investment in, directly or indirectly,
covered debt or equity, other than
purchases of, or investments in, covered
debt or equity that are ordinarily
incident and necessary to the
divestment or transfer of covered debt or
equity, as described in paragraph (a) of
this general license.
(d) This general license does not
authorize:
(1) Any transactions prohibited by
Directive 2 under E.O. 14024,
Prohibitions Related to Correspondent
or Payable-Through Accounts and
Processing of Transactions Involving
Certain Foreign Financial Institutions;
(2) Any transactions prohibited by
Directive 4 under E.O. 14024,
Prohibitions Related to Transactions
Involving the Central Bank of the
Russian Federation, the National
Wealth Fund of the Russian Federation,
and the Ministry of Finance of the
Russian Federation; or
(3) Any transactions otherwise
prohibited by the RuHSR, including
transactions involving any person
blocked pursuant to the RuHSR other
than the persons described in paragraph
(a) of this general license, unless
separately authorized.
(e) Effective August 3, 2022, General
License No. 48, dated August 2, 2022, is
replaced and superseded in its entirety
by this General License No. 48A.
Bradley T. Smith,
Deputy Director, Office of Foreign Assets
Control.
Dated: August 3, 2022.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
[FR Doc. 2022–19443 Filed 9–7–22; 8:45 am]
BILLING CODE 4810–AL–P
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DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
31 CFR Part 587
Publication of Russian Harmful
Foreign Activities Sanctions
Regulations Web General Licenses
40A, 43A, 47, 48, and 49
Office of Foreign Assets
Control, Treasury.
ACTION: Publication of web general
licenses.
AGENCY:
The Department of the
Treasury’s Office of Foreign Assets
Control (OFAC) is publishing five
general licenses (GLs) issued pursuant
to the Russian Harmful Foreign
Activities Sanctions Regulations: GLs
40A, 43A, 47, 48, and 49, each of which
was previously made available on
OFAC’s website.
DATES: GLs 40A, 43A, 47, 48, and 49
were issued on August 2, 2022. See
SUPPLEMENTARY INFORMATION for
additional relevant dates.
FOR FURTHER INFORMATION CONTACT:
OFAC: Assistant Director for Licensing,
202–622–2480; Assistant Director for
Regulatory Affairs, 202–622–4855; or
Assistant Director for Sanctions
Compliance & Evaluation, 202–622–
2490.
SUPPLEMENTARY INFORMATION:
SUMMARY:
Electronic Availability
This document and additional
information concerning OFAC are
available on OFAC’s website:
www.treas.gov/ofac.
Background
OFAC issued GLs 40 and 43 on June
28, 2022. GL 40 contained no expiration
date but was replaced and superseded
by GL 40A on August 2, 2022. GL 43
had an expiration date of 12:01 a.m.
eastern daylight time, August 31, 2022,
but was replaced and superseded by GL
43A on August 2, 2022. GL 43A expires
at 12:01 a.m. eastern daylight time,
August 31, 2022. On August 2, 2022,
OFAC also issued GLs 47, 48, and 49.
GL 47 expires at 12:01 a.m. eastern
daylight time, September 1, 2022. GL 48
contains two expiration dates: (i) 12:01
a.m. eastern daylight time, October 3,
2022, for the authorization in
paragraphs (a)(1) and (b) of GL 48, and
(ii) 12:01 a.m. eastern daylight time,
October 31, 2022, for the authorization
in paragraph (a)(2) of GL 48. GL 49
expires at 12:01 a.m. eastern standard
time, January 31, 2023. GLs 40A, 43A,
47, 48, and 49 each authorize certain
transactions otherwise prohibited by the
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Federal Register / Vol. 87, No. 173 / Thursday, September 8, 2022 / Rules and Regulations
Russian Harmful Foreign Activities
Sanctions Regulations, 31 CFR part 587,
and at the time of issuance, each was
made available on OFAC’s website
(www.treas.gov/ofac). The text of these
GLs is provided below.
OFFICE OF FOREIGN ASSETS
CONTROL
Russian Harmful Foreign Activities
Sanctions Regulations 31 CFR Part 587
GENERAL LICENSE NO. 40A
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Civil Aviation Safety
(a) Except as provided in paragraph
(b), all transactions ordinarily incident
and necessary to the provision,
exportation, or reexportation of goods,
technology, or services to ensure the
safety of civil aviation involving one or
more of the blocked entities listed in the
Annex to this general license and that
are prohibited by Executive Order (E.O.)
14024 are authorized, provided that:
(1) The aircraft is registered in a
jurisdiction solely outside of the
Russian Federation; and
(2) The goods, technology, or services
that are provided, exported, or
reexported are for use on aircraft
operated solely for civil aviation
purposes.
(b) This general license does not
authorize:
(1) Any transactions prohibited by
Directive 2 under E.O. 14024,
Prohibitions Related to Correspondent
or Payable-Through Accounts and
Processing of Transactions Involving
Certain Foreign Financial Institutions;
(2) Any transactions prohibited by
Directive 4 under E.O. 14024,
Prohibitions Related to Transactions
Involving the Central Bank of the
Russian Federation, the National
Wealth Fund of the Russian Federation,
and the Ministry of Finance of the
Russian Federation; or
(3) Any transactions otherwise
prohibited by the Russian Harmful
Foreign Activities Sanctions
Regulations, 31 CFR part 587 (RuHSR),
including transactions involving any
person blocked pursuant to the RuHSR
other than the blocked entities listed in
the Annex to this general license, unless
separately authorized.
(c) Effective August 2, 2022, General
License No. 40, dated June 28, 2022, is
replaced and superseded in its entirety
by this General License No. 40A.
Note to General License 40A. Nothing in
this general license relieves any person from
compliance with any other Federal laws or
requirements of other Federal agencies,
including export, reexport, and transfer (incountry) licensing requirements maintained
by the Department of Commerce’s Bureau of
Industry and Security under the Export
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Administration Regulations, 15 CFR parts
730–774.
Bradley T. Smith,
Deputy Director, Office of Foreign Assets
Control.
Dated: August 2, 2022.
Annex—Blocked Entities Described in
Paragraph (a) of General License 40A
List of blocked entities described in
paragraph (a) of General License 40A:
(a) Public Joint Stock Company
United Aircraft Corporation;
(b) Irkut Corporation Joint Stock
Company;
(c) Energotsentr Irkut;
(d) Irkut-Avtotrans;
(e) Irkut-Remstroi;
(f) Irkut-Stanko Service;
(g) Rapart Servisez;
(h) Sportivno-Ozdorovitelnyi Tsentr
Irkut-Zenit;
(i) Tipografiya Irkut;
(j) Joint Stock Company Ilyushin
Finance Company;
(k) Open Joint Stock Company
Ilyushin Aviation Complex;
(l) Public Joint Stock Company
Taganrog Aviation Scientific-Technical
Complex N.A. G.M. Beriev;
(m) Joint Stock Company Flight
Research Institute N.A. M.M. Gromov;
(n) Tupolev Public Joint Stock
Company;
(o) Limited Liability Company KapoAvtotrans;
(p) Limited Liability Company KapoZhilbitservis;
(q) Limited Liability Company
Networking Company Irkut;
(r) Joint Stock Company Government
Transport Company; or
(s) Any entity in which one or more
of the above persons own, directly or
indirectly, individually or in the
aggregate, a 50 percent or greater
interest.
OFFICE OF FOREIGN ASSETS
CONTROL
Russian Harmful Foreign Activities
Sanctions Regulations 31 CFR Part 587
GENERAL LICENSE NO. 43A
Divestment or Transfer of Debt or
Equity of, and Wind Down of Derivative
Contracts Involving, Public Joint Stock
Company Severstal or Nord Gold PLC
(a) Except as provided in paragraphs
(d) and (e) of this general license, all
transactions prohibited by Executive
Order (E.O.) 14024 that are ordinarily
incident and necessary to the
divestment or transfer, or facilitation of
the divestment or transfer, of debt or
equity of Public Joint Stock Company
Severstal (‘‘Severstal’’) or Nord Gold
PLC (‘‘Nord Gold’’), or any entity in
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54895
which Severstal or Nord Gold owns,
directly or indirectly, individually or in
the aggregate, a 50 percent or greater
interest, purchased prior to June 2, 2022
(‘‘covered debt or equity’’) to a non-U.S.
person are authorized through 12:01
a.m. eastern daylight time, August 31,
2022.
(b) Except as provided in paragraph
(e) of this general license, all
transactions prohibited by E.O. 14024
that are ordinarily incident and
necessary to the wind down of
derivative contracts entered into prior to
June 2, 2022 that (i) include a blocked
person described in paragraph (a) of this
general license as a counterparty or (ii)
are linked to covered debt or equity are
authorized through 12:01 a.m. eastern
daylight time, August 31, 2022,
provided that any payments to a
blocked person are made into a blocked
account in accordance with the Russian
Harmful Foreign Activities Sanctions
Regulations, 31 CFR part 587 (RuHSR).
(c) U.S. financial institutions are
authorized to unblock covered debt or
equity that was blocked on or after June
2, 2022 but before June 28, 2022,
provided that the unblocked covered
debt or equity is solely used to effect
transactions authorized in paragraphs
(a) or (b) of this general license.
Note to paragraph (c). U.S. financial
institutions unblocking property
pursuant to paragraph (c) of this general
license are required to file an
unblocking report pursuant to 31 CFR
501.603.
(d) Paragraph (a) of this general
license does not authorize:
(1) U.S. persons to sell, or to facilitate
the sale of, covered debt or equity to,
directly or indirectly, any person whose
property and interests in property are
blocked; or
(2) U.S. persons to purchase or invest
in, or to facilitate the purchase of or
investment in, directly or indirectly,
covered debt or equity, other than
purchases of or investments in covered
debt or equity that are ordinarily
incident and necessary to the
divestment or transfer of covered debt or
equity, as described in paragraph (a) of
this general license.
(e) This general license does not
authorize:
(1) Any transactions prohibited by
Directive 2 under E.O. 14024,
Prohibitions Related to Correspondent
or Payable-Through Accounts and
Processing of Transactions Involving
Certain Foreign Financial Institutions;
(2) Any transactions prohibited by
Directive 4 under E.O. 14024,
Prohibitions Related to Transactions
Involving the Central Bank of the
Russian Federation, the National
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Wealth Fund of the Russian Federation,
and the Ministry of Finance of the
Russian Federation; or
(3) Any transactions otherwise
prohibited by the RuHSR, including
transactions involving any person
blocked pursuant to the RuHSR other
than the persons described in paragraph
(a) of this general license, unless
separately authorized.
(f) Effective August 2, 2022, General
License No. 43, dated June 28, 2022, is
replaced and superseded in its entirety
by this General License No. 43A.
Bradley T. Smith,
Deputy Director, Office of Foreign Assets
Control.
Dated: August 2, 2022.
OFFICE OF FOREIGN ASSETS
CONTROL
Russian Harmful Foreign Activities
Sanctions Regulations 31 CFR Part 587
GENERAL LICENSE NO. 47
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Authorizing the Wind Down of
Transactions Involving Certain Entities
Blocked on August 2, 2022
(a) Except as provided in paragraph
(b) of this general license, all
transactions ordinarily incident and
necessary to the wind down of any
transaction involving one or more of the
following blocked persons that are
prohibited by Executive Order (E.O.)
14024 are authorized through 12:01 a.m.
eastern daylight time, September 1,
2022, provided that any payment to a
blocked person must be made into a
blocked account in accordance with the
Russian Harmful Foreign Activities
Sanctions Regulations, 31 CFR part 587
(RuHSR):
(1) Skolkovo Foundation;
(2) Skolkovo Institute of Technology;
(3) Technopark Skolkovo Limited
Liability Company;
(4) Federal State Institution of Higher
Vocational Education Moscow Institute
of Physics and Technology;
(5) Publichnoe Aktsionernoe
Obschestvo Magnitogorskiy
Metallurgicheskiy Kombinat;
(6) Joint Stock Company Government
Transport Company; or
(7) Any entity in which one or more
of the above persons own, directly or
indirectly, individually or in the
aggregate, a 50 percent or greater
interest.
(b) This general license does not
authorize:
(1) Any transactions prohibited by
Directive 2 under E.O. 14024,
Prohibitions Related to Correspondent
or Payable-Through Accounts and
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Processing of Transactions Involving
Certain Foreign Financial Institutions;
(2) Any transactions prohibited by
Directive 4 under E.O. 14024,
Prohibitions Related to Transactions
Involving the Central Bank of the
Russian Federation, the National
Wealth Fund of the Russian Federation,
and the Ministry of Finance of the
Russian Federation; or
(3) Any transactions otherwise
prohibited by the RuHSR, including
transactions involving any person
blocked pursuant to the RuHSR other
than the blocked persons described in
paragraph (a) of this general license,
unless separately authorized.
Bradley T. Smith,
Deputy Director, Office of Foreign Assets
Control.
Dated: August 2, 2022.
OFFICE OF FOREIGN ASSETS
CONTROL
Russian Harmful Foreign Activities
Sanctions Regulations 31 CFR Part 587
GENERAL LICENSE NO. 48
Divestment or Transfer of Debt or
Equity of, and Wind Down of Derivative
Contracts Involving, Certain Entities
Blocked on August 2, 2022
(a)(1) Except as provided in
paragraphs (c) and (d) of this general
license, all transactions prohibited by
Executive Order (E.O.) 14024 that are
ordinarily incident and necessary to the
divestment or transfer, or facilitation of
the divestment or transfer, of debt or
equity of one or more of the following
entities purchased prior to August 2,
2022 (‘‘covered debt or equity’’) to a
non-U.S. person are authorized through
12:01 a.m. eastern daylight time,
October 3, 2022:
(i) Publichnoe Aktsionernoe
Obschestvo Magnitogorskiy
Metallurgicheskiy Kombinat;
(ii) Joint Stock Company Government
Transport Company; or
(iii) Any entity in which one or more
of the above entities own, directly or
indirectly, individually or in the
aggregate, a 50 percent or greater
interest.
(2) Except as provided in paragraphs
(c) and (d) of this general license, all
transactions prohibited by E.O. 14024
that are ordinarily incident and
necessary to facilitating, clearing, and
settling trades of covered debt or equity
are authorized through 12:01 a.m.
eastern daylight time, October 31, 2022,
provided that such trades were placed
prior to 4:00 p.m. eastern daylight time,
August 2, 2022.
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(b) Except as provided in paragraph
(d) of this general license, all
transactions prohibited by E.O. 14024
that are ordinarily incident and
necessary to the wind down of
derivative contracts entered into prior to
August 2, 2022, that (i) include a
blocked person described in paragraph
(a) of this general license as a
counterparty or (ii) are linked to covered
debt or equity are authorized through
12:01 a.m. eastern daylight time,
October 3, 2022, provided that any
payments to a blocked person are made
into a blocked account in accordance
with the Russian Harmful Foreign
Activities Sanctions Regulations, 31
CFR part 587 (RuHSR).
(c) Paragraph (a) of this general
license does not authorize:
(1) U.S. persons to sell, or to facilitate
the sale of, covered debt or equity to,
directly or indirectly, any person whose
property and interests in property are
blocked; or
(2) U.S. persons to purchase or invest
in, or to facilitate the purchase of or
investment in, directly or indirectly,
covered debt or equity, other than
purchases of, or investments in, covered
debt or equity that are ordinarily
incident and necessary to the
divestment or transfer of covered debt or
equity, as described in paragraph (a) of
this general license.
(d) This general license does not
authorize:
(1) Any transactions prohibited by
Directive 2 under E.O. 14024,
Prohibitions Related to Correspondent
or Payable-Through Accounts and
Processing of Transactions Involving
Certain Foreign Financial Institutions;
(2) Any transactions prohibited by
Directive 4 under E.O. 14024,
Prohibitions Related to Transactions
Involving the Central Bank of the
Russian Federation, the National
Wealth Fund of the Russian Federation,
and the Ministry of Finance of the
Russian Federation; or
(3) Any transactions otherwise
prohibited by the RuHSR, including
transactions involving any person
blocked pursuant to the RuHSR other
than the persons described in paragraph
(a) of this general license, unless
separately authorized.
Bradley T. Smith,
Deputy Director, Office of Foreign Assets
Control.
Dated: August 2, 2022.
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OFFICE OF FOREIGN ASSETS
CONTROL
DEPARTMENT OF THE TREASURY
Russian Harmful Foreign Activities
Sanctions Regulations 31 CFR Part 587
GENERAL LICENSE NO. 49
Authorizing the Wind Down of
Transactions Involving MMK Metalurji
Sanayi Ticaret Ve Liman Isletmeciligi
Anonim Sirketi
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(a) Except as provided in paragraph
(b) of this general license, all
transactions ordinarily incident and
necessary to the wind down of any
transaction involving MMK Metalurji
Sanayi Ticaret Ve Liman Isletmeciligi
Anonim Sirketi (MMK Metalurji), or any
entity in which MMK Metalurji owns,
directly or indirectly, a 50 percent or
greater interest, that are prohibited by
Executive Order (E.O.) 14024 are
authorized through 12:01 a.m. eastern
standard time, January 31, 2023,
provided that any payment to a blocked
person must be made into a blocked
account in accordance with the Russian
Harmful Foreign Activities Sanctions
Regulations, 31 CFR part 587 (RuHSR).
(b) This general license does not
authorize:
(1) Any transactions prohibited by
Directive 2 under E.O. 14024,
Prohibitions Related to Correspondent
or Payable-Through Accounts and
Processing of Transactions Involving
Certain Foreign Financial Institutions;
(2) Any transactions prohibited by
Directive 4 under E.O. 14024,
Prohibitions Related to Transactions
Involving the Central Bank of the
Russian Federation, the National
Wealth Fund of the Russian Federation,
and the Ministry of Finance of the
Russian Federation; or
(3) Any transactions otherwise
prohibited by the RuHSR, including
transactions involving any person
blocked pursuant to the RuHSR other
than the blocked persons described in
paragraph (a) of this general license,
unless separately authorized.
Office of Foreign Assets Control
31 CFR Part 587
Publication of Russian Harmful
Foreign Activities Sanctions
Regulations Web General Licenses
38A and 50
Office of Foreign Assets
Control, Treasury.
ACTION: Publication of web general
licenses.
AGENCY:
The Department of the
Treasury’s Office of Foreign Assets
Control (OFAC) is publishing two
general licenses (GLs) issued in the
Russian Harmful Foreign Activities
Sanctions Regulations: GLs 38A and 50,
each of which was previously made
available on OFAC’s website.
DATES: GLs 38A and 50 were issued on
August 19, 2022. See SUPPLEMENTARY
INFORMATION for additional relevant
dates.
FOR FURTHER INFORMATION CONTACT:
OFAC: Assistant Director for Licensing,
202–622–2480; Assistant Director for
Regulatory Affairs, 202–622–4855; or
Assistant Director for Sanctions
Compliance & Evaluation, 202–622–
2490.
SUPPLEMENTARY INFORMATION:
SUMMARY:
Electronic Availability
This document and additional
information concerning OFAC are
available on OFAC’s website:
www.treas.gov/ofac.
Background
On August 19, 2022, OFAC issued
GLs 38A and 50 to authorize certain
transactions otherwise prohibited by the
Russian Harmful Foreign Activities
Sanctions Regulations, 31 CFR part 587.
GL 38A replaced and superseded GL
38 and contains no expiration date. GL
50 contains no expiration date. At the
time of issuance, GLs 38A and 50 were
each made available on OFAC’s website
(www.treas.gov/ofac). The text of these
GLs is provided below.
Bradley T. Smith,
Deputy Director, Office of Foreign Assets
Control.
Dated: August 2, 2022.
OFFICE OF FOREIGN ASSETS
CONTROL
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
GENERAL LICENSE NO. 38A
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Russian Harmful Foreign Activities
Sanctions Regulations 31 CFR Part 587
Authorizing Transactions Related to
Pension Payments
(a) Except as provided in paragraph
(b) of this general license, all
transactions ordinarily incident and
necessary to the processing of pension
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payments to (1) U.S. persons or (2) nonU.S. persons not located in the Russian
Federation, that are prohibited by
Executive Order (E.O.) 14024 are
authorized, provided that the only
involvement of blocked persons is the
processing of funds by financial
institutions blocked pursuant to E.O.
14024.
(b) This general license does not
authorize:
(1) The opening or maintaining of a
correspondent account or payablethrough account for or on behalf of any
entity determined to be subject to the
prohibitions of Directive 2, Prohibitions
Related to Correspondent or PayableThrough Accounts and Processing of
Transactions Involving Certain Foreign
Financial Institutions;
(2) Any debit to an account on the
books of a U.S. financial institution of
the Central Bank of the Russian
Federation, the National Wealth Fund of
the Russian Federation, or the Ministry
of Finance of the Russian Federation; or
(3) Any transactions otherwise
prohibited by the Russian Harmful
Foreign Activities Sanctions
Regulations, 31 CFR part 587 (RuHSR),
including transactions involving any
person blocked pursuant to the RuHSR
other than the blocked persons
described in paragraph (a) of this
general license, unless separately
authorized.
(c) Effective August 19, 2022, General
License No. 38, dated June 2, 2022, is
replaced and superseded in its entirety
by this General License No. 38A.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
Dated: August 19, 2022.
OFFICE OF FOREIGN ASSETS
CONTROL
Russian Harmful Foreign Activities
Sanctions Regulations 31 CFR Part 587
GENERAL LICENSE NO. 50
Authorizing the Closing of Individual
Accounts at Financial Institutions
Blocked Pursuant to Executive Order
14024
(a) Except as provided in paragraph
(b) of this general license, all
transactions prohibited by Executive
Order (E.O.) 14024 that are ordinarily
incident and necessary to (i) the closing
of an account of an individual, wherever
located, who is not a blocked person
(‘‘the account holder’’), held at a
financial institution blocked pursuant to
E.O. 14024, and (ii) the unblocking and
lump sum transfer of all remaining
funds and other assets in the account to
the account holder, including to an
account of the account holder held at a
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]]>Agencies
[Federal Register Volume 87, Number 173 (Thursday, September 8, 2022)]
[Rules and Regulations]
[Pages 54894-54897]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-19311]
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DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
31 CFR Part 587
Publication of Russian Harmful Foreign Activities Sanctions
Regulations Web General Licenses 40A, 43A, 47, 48, and 49
AGENCY: Office of Foreign Assets Control, Treasury.
ACTION: Publication of web general licenses.
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SUMMARY: The Department of the Treasury's Office of Foreign Assets
Control (OFAC) is publishing five general licenses (GLs) issued
pursuant to the Russian Harmful Foreign Activities Sanctions
Regulations: GLs 40A, 43A, 47, 48, and 49, each of which was previously
made available on OFAC's website.
DATES: GLs 40A, 43A, 47, 48, and 49 were issued on August 2, 2022. See
SUPPLEMENTARY INFORMATION for additional relevant dates.
FOR FURTHER INFORMATION CONTACT: OFAC: Assistant Director for
Licensing, 202-622-2480; Assistant Director for Regulatory Affairs,
202-622-4855; or Assistant Director for Sanctions Compliance &
Evaluation, 202-622-2490.
SUPPLEMENTARY INFORMATION:
Electronic Availability
This document and additional information concerning OFAC are
available on OFAC's website: www.treas.gov/ofac.
Background
OFAC issued GLs 40 and 43 on June 28, 2022. GL 40 contained no
expiration date but was replaced and superseded by GL 40A on August 2,
2022. GL 43 had an expiration date of 12:01 a.m. eastern daylight time,
August 31, 2022, but was replaced and superseded by GL 43A on August 2,
2022. GL 43A expires at 12:01 a.m. eastern daylight time, August 31,
2022. On August 2, 2022, OFAC also issued GLs 47, 48, and 49. GL 47
expires at 12:01 a.m. eastern daylight time, September 1, 2022. GL 48
contains two expiration dates: (i) 12:01 a.m. eastern daylight time,
October 3, 2022, for the authorization in paragraphs (a)(1) and (b) of
GL 48, and (ii) 12:01 a.m. eastern daylight time, October 31, 2022, for
the authorization in paragraph (a)(2) of GL 48. GL 49 expires at 12:01
a.m. eastern standard time, January 31, 2023. GLs 40A, 43A, 47, 48, and
49 each authorize certain transactions otherwise prohibited by the
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Russian Harmful Foreign Activities Sanctions Regulations, 31 CFR part
587, and at the time of issuance, each was made available on OFAC's
website (www.treas.gov/ofac). The text of these GLs is provided below.
OFFICE OF FOREIGN ASSETS CONTROL
Russian Harmful Foreign Activities Sanctions Regulations 31 CFR Part
587
GENERAL LICENSE NO. 40A
Civil Aviation Safety
(a) Except as provided in paragraph (b), all transactions
ordinarily incident and necessary to the provision, exportation, or
reexportation of goods, technology, or services to ensure the safety of
civil aviation involving one or more of the blocked entities listed in
the Annex to this general license and that are prohibited by Executive
Order (E.O.) 14024 are authorized, provided that:
(1) The aircraft is registered in a jurisdiction solely outside of
the Russian Federation; and
(2) The goods, technology, or services that are provided, exported,
or reexported are for use on aircraft operated solely for civil
aviation purposes.
(b) This general license does not authorize:
(1) Any transactions prohibited by Directive 2 under E.O. 14024,
Prohibitions Related to Correspondent or Payable-Through Accounts and
Processing of Transactions Involving Certain Foreign Financial
Institutions;
(2) Any transactions prohibited by Directive 4 under E.O. 14024,
Prohibitions Related to Transactions Involving the Central Bank of the
Russian Federation, the National Wealth Fund of the Russian Federation,
and the Ministry of Finance of the Russian Federation; or
(3) Any transactions otherwise prohibited by the Russian Harmful
Foreign Activities Sanctions Regulations, 31 CFR part 587 (RuHSR),
including transactions involving any person blocked pursuant to the
RuHSR other than the blocked entities listed in the Annex to this
general license, unless separately authorized.
(c) Effective August 2, 2022, General License No. 40, dated June
28, 2022, is replaced and superseded in its entirety by this General
License No. 40A.
Note to General License 40A. Nothing in this general license
relieves any person from compliance with any other Federal laws or
requirements of other Federal agencies, including export, reexport,
and transfer (in-country) licensing requirements maintained by the
Department of Commerce's Bureau of Industry and Security under the
Export Administration Regulations, 15 CFR parts 730-774.
Bradley T. Smith,
Deputy Director, Office of Foreign Assets Control.
Dated: August 2, 2022.
Annex--Blocked Entities Described in Paragraph (a) of General License
40A
List of blocked entities described in paragraph (a) of General
License 40A:
(a) Public Joint Stock Company United Aircraft Corporation;
(b) Irkut Corporation Joint Stock Company;
(c) Energotsentr Irkut;
(d) Irkut-Avtotrans;
(e) Irkut-Remstroi;
(f) Irkut-Stanko Service;
(g) Rapart Servisez;
(h) Sportivno-Ozdorovitelnyi Tsentr Irkut-Zenit;
(i) Tipografiya Irkut;
(j) Joint Stock Company Ilyushin Finance Company;
(k) Open Joint Stock Company Ilyushin Aviation Complex;
(l) Public Joint Stock Company Taganrog Aviation Scientific-
Technical Complex N.A. G.M. Beriev;
(m) Joint Stock Company Flight Research Institute N.A. M.M. Gromov;
(n) Tupolev Public Joint Stock Company;
(o) Limited Liability Company Kapo-Avtotrans;
(p) Limited Liability Company Kapo-Zhilbitservis;
(q) Limited Liability Company Networking Company Irkut;
(r) Joint Stock Company Government Transport Company; or
(s) Any entity in which one or more of the above persons own,
directly or indirectly, individually or in the aggregate, a 50 percent
or greater interest.
OFFICE OF FOREIGN ASSETS CONTROL
Russian Harmful Foreign Activities Sanctions Regulations 31 CFR Part
587
GENERAL LICENSE NO. 43A
Divestment or Transfer of Debt or Equity of, and Wind Down of
Derivative Contracts Involving, Public Joint Stock Company Severstal or
Nord Gold PLC
(a) Except as provided in paragraphs (d) and (e) of this general
license, all transactions prohibited by Executive Order (E.O.) 14024
that are ordinarily incident and necessary to the divestment or
transfer, or facilitation of the divestment or transfer, of debt or
equity of Public Joint Stock Company Severstal (``Severstal'') or Nord
Gold PLC (``Nord Gold''), or any entity in which Severstal or Nord Gold
owns, directly or indirectly, individually or in the aggregate, a 50
percent or greater interest, purchased prior to June 2, 2022 (``covered
debt or equity'') to a non-U.S. person are authorized through 12:01
a.m. eastern daylight time, August 31, 2022.
(b) Except as provided in paragraph (e) of this general license,
all transactions prohibited by E.O. 14024 that are ordinarily incident
and necessary to the wind down of derivative contracts entered into
prior to June 2, 2022 that (i) include a blocked person described in
paragraph (a) of this general license as a counterparty or (ii) are
linked to covered debt or equity are authorized through 12:01 a.m.
eastern daylight time, August 31, 2022, provided that any payments to a
blocked person are made into a blocked account in accordance with the
Russian Harmful Foreign Activities Sanctions Regulations, 31 CFR part
587 (RuHSR).
(c) U.S. financial institutions are authorized to unblock covered
debt or equity that was blocked on or after June 2, 2022 but before
June 28, 2022, provided that the unblocked covered debt or equity is
solely used to effect transactions authorized in paragraphs (a) or (b)
of this general license.
Note to paragraph (c). U.S. financial institutions unblocking
property pursuant to paragraph (c) of this general license are required
to file an unblocking report pursuant to 31 CFR 501.603.
(d) Paragraph (a) of this general license does not authorize:
(1) U.S. persons to sell, or to facilitate the sale of, covered
debt or equity to, directly or indirectly, any person whose property
and interests in property are blocked; or
(2) U.S. persons to purchase or invest in, or to facilitate the
purchase of or investment in, directly or indirectly, covered debt or
equity, other than purchases of or investments in covered debt or
equity that are ordinarily incident and necessary to the divestment or
transfer of covered debt or equity, as described in paragraph (a) of
this general license.
(e) This general license does not authorize:
(1) Any transactions prohibited by Directive 2 under E.O. 14024,
Prohibitions Related to Correspondent or Payable-Through Accounts and
Processing of Transactions Involving Certain Foreign Financial
Institutions;
(2) Any transactions prohibited by Directive 4 under E.O. 14024,
Prohibitions Related to Transactions Involving the Central Bank of the
Russian Federation, the National
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Wealth Fund of the Russian Federation, and the Ministry of Finance of
the Russian Federation; or
(3) Any transactions otherwise prohibited by the RuHSR, including
transactions involving any person blocked pursuant to the RuHSR other
than the persons described in paragraph (a) of this general license,
unless separately authorized.
(f) Effective August 2, 2022, General License No. 43, dated June
28, 2022, is replaced and superseded in its entirety by this General
License No. 43A.
Bradley T. Smith,
Deputy Director, Office of Foreign Assets Control.
Dated: August 2, 2022.
OFFICE OF FOREIGN ASSETS CONTROL
Russian Harmful Foreign Activities Sanctions Regulations 31 CFR Part
587
GENERAL LICENSE NO. 47
Authorizing the Wind Down of Transactions Involving Certain Entities
Blocked on August 2, 2022
(a) Except as provided in paragraph (b) of this general license,
all transactions ordinarily incident and necessary to the wind down of
any transaction involving one or more of the following blocked persons
that are prohibited by Executive Order (E.O.) 14024 are authorized
through 12:01 a.m. eastern daylight time, September 1, 2022, provided
that any payment to a blocked person must be made into a blocked
account in accordance with the Russian Harmful Foreign Activities
Sanctions Regulations, 31 CFR part 587 (RuHSR):
(1) Skolkovo Foundation;
(2) Skolkovo Institute of Technology;
(3) Technopark Skolkovo Limited Liability Company;
(4) Federal State Institution of Higher Vocational Education Moscow
Institute of Physics and Technology;
(5) Publichnoe Aktsionernoe Obschestvo Magnitogorskiy
Metallurgicheskiy Kombinat;
(6) Joint Stock Company Government Transport Company; or
(7) Any entity in which one or more of the above persons own,
directly or indirectly, individually or in the aggregate, a 50 percent
or greater interest.
(b) This general license does not authorize:
(1) Any transactions prohibited by Directive 2 under E.O. 14024,
Prohibitions Related to Correspondent or Payable-Through Accounts and
Processing of Transactions Involving Certain Foreign Financial
Institutions;
(2) Any transactions prohibited by Directive 4 under E.O. 14024,
Prohibitions Related to Transactions Involving the Central Bank of the
Russian Federation, the National Wealth Fund of the Russian Federation,
and the Ministry of Finance of the Russian Federation; or
(3) Any transactions otherwise prohibited by the RuHSR, including
transactions involving any person blocked pursuant to the RuHSR other
than the blocked persons described in paragraph (a) of this general
license, unless separately authorized.
Bradley T. Smith,
Deputy Director, Office of Foreign Assets Control.
Dated: August 2, 2022.
OFFICE OF FOREIGN ASSETS CONTROL
Russian Harmful Foreign Activities Sanctions Regulations 31 CFR Part
587
GENERAL LICENSE NO. 48
Divestment or Transfer of Debt or Equity of, and Wind Down of
Derivative Contracts Involving, Certain Entities Blocked on August 2,
2022
(a)(1) Except as provided in paragraphs (c) and (d) of this general
license, all transactions prohibited by Executive Order (E.O.) 14024
that are ordinarily incident and necessary to the divestment or
transfer, or facilitation of the divestment or transfer, of debt or
equity of one or more of the following entities purchased prior to
August 2, 2022 (``covered debt or equity'') to a non-U.S. person are
authorized through 12:01 a.m. eastern daylight time, October 3, 2022:
(i) Publichnoe Aktsionernoe Obschestvo Magnitogorskiy
Metallurgicheskiy Kombinat;
(ii) Joint Stock Company Government Transport Company; or
(iii) Any entity in which one or more of the above entities own,
directly or indirectly, individually or in the aggregate, a 50 percent
or greater interest.
(2) Except as provided in paragraphs (c) and (d) of this general
license, all transactions prohibited by E.O. 14024 that are ordinarily
incident and necessary to facilitating, clearing, and settling trades
of covered debt or equity are authorized through 12:01 a.m. eastern
daylight time, October 31, 2022, provided that such trades were placed
prior to 4:00 p.m. eastern daylight time, August 2, 2022.
(b) Except as provided in paragraph (d) of this general license,
all transactions prohibited by E.O. 14024 that are ordinarily incident
and necessary to the wind down of derivative contracts entered into
prior to August 2, 2022, that (i) include a blocked person described in
paragraph (a) of this general license as a counterparty or (ii) are
linked to covered debt or equity are authorized through 12:01 a.m.
eastern daylight time, October 3, 2022, provided that any payments to a
blocked person are made into a blocked account in accordance with the
Russian Harmful Foreign Activities Sanctions Regulations, 31 CFR part
587 (RuHSR).
(c) Paragraph (a) of this general license does not authorize:
(1) U.S. persons to sell, or to facilitate the sale of, covered
debt or equity to, directly or indirectly, any person whose property
and interests in property are blocked; or
(2) U.S. persons to purchase or invest in, or to facilitate the
purchase of or investment in, directly or indirectly, covered debt or
equity, other than purchases of, or investments in, covered debt or
equity that are ordinarily incident and necessary to the divestment or
transfer of covered debt or equity, as described in paragraph (a) of
this general license.
(d) This general license does not authorize:
(1) Any transactions prohibited by Directive 2 under E.O. 14024,
Prohibitions Related to Correspondent or Payable-Through Accounts and
Processing of Transactions Involving Certain Foreign Financial
Institutions;
(2) Any transactions prohibited by Directive 4 under E.O. 14024,
Prohibitions Related to Transactions Involving the Central Bank of the
Russian Federation, the National Wealth Fund of the Russian Federation,
and the Ministry of Finance of the Russian Federation; or
(3) Any transactions otherwise prohibited by the RuHSR, including
transactions involving any person blocked pursuant to the RuHSR other
than the persons described in paragraph (a) of this general license,
unless separately authorized.
Bradley T. Smith,
Deputy Director, Office of Foreign Assets Control.
Dated: August 2, 2022.
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OFFICE OF FOREIGN ASSETS CONTROL
Russian Harmful Foreign Activities Sanctions Regulations 31 CFR Part
587
GENERAL LICENSE NO. 49
Authorizing the Wind Down of Transactions Involving MMK Metalurji
Sanayi Ticaret Ve Liman Isletmeciligi Anonim Sirketi
(a) Except as provided in paragraph (b) of this general license,
all transactions ordinarily incident and necessary to the wind down of
any transaction involving MMK Metalurji Sanayi Ticaret Ve Liman
Isletmeciligi Anonim Sirketi (MMK Metalurji), or any entity in which
MMK Metalurji owns, directly or indirectly, a 50 percent or greater
interest, that are prohibited by Executive Order (E.O.) 14024 are
authorized through 12:01 a.m. eastern standard time, January 31, 2023,
provided that any payment to a blocked person must be made into a
blocked account in accordance with the Russian Harmful Foreign
Activities Sanctions Regulations, 31 CFR part 587 (RuHSR).
(b) This general license does not authorize:
(1) Any transactions prohibited by Directive 2 under E.O. 14024,
Prohibitions Related to Correspondent or Payable-Through Accounts and
Processing of Transactions Involving Certain Foreign Financial
Institutions;
(2) Any transactions prohibited by Directive 4 under E.O. 14024,
Prohibitions Related to Transactions Involving the Central Bank of the
Russian Federation, the National Wealth Fund of the Russian Federation,
and the Ministry of Finance of the Russian Federation; or
(3) Any transactions otherwise prohibited by the RuHSR, including
transactions involving any person blocked pursuant to the RuHSR other
than the blocked persons described in paragraph (a) of this general
license, unless separately authorized.
Bradley T. Smith,
Deputy Director, Office of Foreign Assets Control.
Dated: August 2, 2022.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
[FR Doc. 2022-19311 Filed 9-7-22; 8:45 am]
BILLING CODE 4810-AL-P
