Publication of Russian Harmful Foreign Activities Sanctions Regulations Web General Licenses 8, 8A, 8B, and 8C, 54890-54892 [2022-19312]
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Federal Register / Vol. 87, No. 173 / Thursday, September 8, 2022 / Rules and Regulations
financing, and other non-depository
credit intermediation); activities related
to credit intermediation (including
mortgage and nonmortgage loan brokers,
financial transactions processing,
reserve, and clearinghouse activities,
and other activities related to credit
intermediation); securities and
commodity contracts intermediation
and brokerage (including investment
banking and securities dealing,
securities brokerage, commodity
contracts and dealing, and commodity
contracts brokerage); securities and
commodity exchanges; other financial
investment activities (including
miscellaneous intermediation, portfolio
management, investment advice, and all
other financial investment activities);
insurance carriers; insurance agencies,
brokerages, and other insurance related
activities; insurance and employee
benefit funds (including pension funds,
health and welfare funds, and other
insurance funds); other investment
pools and funds (including open-end
investment funds, trusts, estates, and
agency accounts, real estate investment
trusts, and other financial vehicles); and
holding companies that own, or
influence the management decisions of,
firms principally engaged in the
aforementioned activities.
(d) What must be reported. (1) A U.S.
person that had combined sales to, or
purchases from foreign persons that
exceeded $3 million in the financial
services categories covered by the
survey during its fiscal year, on an
accrual basis, is required to provide data
on total sales and/or purchases of each
of the covered types of financial services
and must disaggregate the totals by
country and by relationship to the
foreign transactor (foreign affiliate,
foreign parent group, or unaffiliated).
The $3 million threshold for sales and
purchases should be applied to financial
services transactions with foreign
persons by all parts of the consolidated
domestic U.S. Reporter. Because the $3
million threshold applies separately to
sales and purchases, the mandatory
reporting requirement may apply to
sales only, to purchases only, or to both.
The determination of whether a U.S.
financial services provider is subject to
this reporting requirement can be based
on the judgment of knowledgeable
persons in a company who can identify
reportable transactions on a recall basis,
with a reasonable degree of certainty,
without conducting a detailed manual
records search.
(2) A U.S. person that had combined
sales to, or purchases from foreign
persons that were $3 million or less in
the financial services categories covered
by the survey during its fiscal year, on
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an accrual basis, is required to provide
the total sales and/or purchases for each
type of transaction in which they
engaged. The $3 million threshold for
sales and purchases should be applied
to financial services transactions with
foreign persons by all parts of the
consolidated domestic U.S. Reporter.
Because the $3 million threshold
applies separately to sales and
purchases, the mandatory reporting
requirement may apply to sales only, to
purchases only, or to both.
(e) Voluntary reporting of financial
services transactions. If, during the
fiscal year, combined sales and
purchases were $3 million or less, on an
accrual basis, the U.S. person may, in
addition to providing the required total
for each type of transaction, report sales
at a country and affiliation level of
detail on the applicable mandatory
schedule(s). The estimates can be
judgmental, that is, based on recall,
without conducting a detailed records
search.
(f) Exemption claims. Any U.S. person
that receives the BE–180 survey form
from BEA, but is not subject to the
reporting requirements, must file an
exemption claim by completing the
determination of reporting status section
of the BE–180 survey and returning it to
BEA by the due date of the survey. This
requirement is necessary to ensure
compliance with reporting requirements
and efficient administration of the Act
by eliminating unnecessary follow-up
contact.
(g) Covered types of financial services.
Financial services covered by the BE–
180 survey consist of transactions
between U.S. financial services
companies and foreign persons for
brokerage, underwriting, financial
management, credit-related, creditcards, financial advisory, financial
custody, securities lending, electronic
funds transfers, and other financial
services.
(h) Due date. A fully completed and
certified BE–180 report, or qualifying
exemption claim with the determination
of reporting status section completed, is
due to be filed with BEA by July 31 of
the year after the year covered by the
survey.
[FR Doc. 2022–19436 Filed 9–7–22; 8:45 am]
BILLING CODE 3510–06–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 8,
8A, 8B, and 8C
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 four
general licenses (GLs) issued in the
Russian Harmful Foreign Activities
Sanctions program: GLs 8, 8A, and 8B,
which were previously issued on
OFAC’s website and are now expired,
and GL 8C, which was also issued on
OFAC’s website and expires December
5, 2022.
DATES: GL 8C was issued on June 14,
2022. See SUPPLEMENTARY INFORMATION
of this document 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 GL 8 on February 24,
2022 to authorize certain transactions
otherwise prohibited by Executive
Order (E.O.) 14024. At the time of
issuance, OFAC made GL 8 available on
its website (www.treas.gov/ofac).
Subsequently, OFAC issued further
iterations of GL 8, all of which were
available on OFAC’s website. GL 8A,
which also authorized certain
transactions otherwise prohibited by
E.O. 14024, was issued on February 28,
2022. GL 8B, which authorized certain
transactions otherwise prohibited by the
Russian Harmful Foreign Activities
Sanctions Regulations, 31 CFR part 587
(RuHSR), was issued on April 6, 2022.
All three of these GLs had an expiration
date of June 24, 2022. On June 14, 2022,
OFAC issued GL 8C, which also
authorizes certain transactions
otherwise prohibited by the RuHSR and
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Federal Register / Vol. 87, No. 173 / Thursday, September 8, 2022 / Rules and Regulations
(2) Any transactions involving any
person blocked pursuant to E.O. 14024
other than the blocked persons
described in paragraph (a) of this
general license, unless separately
authorized.
has an expiration date of December 5,
2022. The text of GLs 8 through 8C is
provided below.
OFFICE OF FOREIGN ASSETS
CONTROL
Executive Order 14024 of April 15,
2021
Blocking Property With Respect to
Specified Harmful Foreign Activities of
the Government of the Russian
Federation
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GENERAL LICENSE NO. 8
Authorizing Transactions Related to
Energy
(a) Except as provided in paragraph
(c) of this general license, all
transactions prohibited by Executive
Order (E.O.) 14024 involving one or
more of the following entities that are
related to energy are authorized,
through 12:01 a.m. eastern daylight
time, June 24, 2022:
(1) State Corporation Bank for
Development and Foreign Economic
Affairs Vnesheconombank;
(2) Public Joint Stock Company Bank
Financial Corporation Otkritie;
(3) Sovcombank Open Joint Stock
Company;
(4) Public Joint Stock Company
Sberbank of Russia;
(5) VTB Bank Public Joint Stock
Company; or
(6) 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) For the purposes of this general
license, the term ‘‘related to energy’’
means the extraction, production,
refinement, liquefaction, gasification,
regasification, conversion, enrichment,
fabrication, transport, or purchase of
petroleum, including crude oil, lease
condensates, unfinished oils, natural gas
liquids, petroleum products, natural gas,
or other products capable of producing
energy, such as coal, wood, or
agricultural products used to
manufacture biofuels, or uranium in any
form, as well as the development,
production, generation, transmission, or
exchange of power, through any means,
including nuclear, thermal, and
renewable energy sources.
(c) 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 subject to Directive 2 under E.O.
14024, Prohibitions Related to
Correspondent or Payable-Through
Accounts and Processing of
Transactions Involving Certain Foreign
Financial Institutions; or
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Note to General License No. 8. This
authorization is valid until June 24, 2022
unless renewed.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
Dated: February 24, 2022.
OFFICE OF FOREIGN ASSETS
CONTROL
Executive Order 14024 of April 15,
2021
Blocking Property With Respect to
Specified Harmful Foreign Activities of
the Government of the Russian
Federation
GENERAL LICENSE NO. 8A
Authorizing Transactions Related to
Energy
(a) Except as provided in paragraph
(c) of this general license, all
transactions prohibited by Executive
Order (E.O.) 14024 involving one or
more of the following entities that are
related to energy are authorized,
through 12:01 a.m. eastern daylight
time, June 24, 2022:
(1) State Corporation Bank for
Development and Foreign Economic
Affairs Vnesheconombank;
(2) Public Joint Stock Company Bank
Financial Corporation Otkritie;
(3) Sovcombank Open Joint Stock
Company;
(4) Public Joint Stock Company
Sberbank of Russia;
(5) VTB Bank Public Joint Stock
Company;
(6) 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; or
(7) the Central Bank of the Russian
Federation.
(b) For the purposes of this general
license, the term ‘‘related to energy’’
means the extraction, production,
refinement, liquefaction, gasification,
regasification, conversion, enrichment,
fabrication, transport, or purchase of
petroleum, including crude oil, lease
condensates, unfinished oils, natural gas
liquids, petroleum products, natural gas,
or other products capable of producing
energy, such as coal, wood, or
agricultural products used to
manufacture biofuels, or uranium in any
form, as well as the development,
production, generation, transmission, or
exchange of power, through any means,
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54891
including nuclear, thermal, and
renewable energy sources.
(c) This general license does not
authorize:
(1) Any transactions prohibited by
Directive 1A under E.O. 14024,
Prohibitions Related to Certain
Sovereign Debt of the Russian
Federation;
(2) The opening or maintaining of a
correspondent account or payablethrough account for or on behalf of any
entity subject to Directive 2 under E.O.
14024, Prohibitions Related to
Correspondent or Payable-Through
Accounts and Processing of
Transactions Involving Certain Foreign
Financial Institutions;
(3) Any debit to an account on the
books of a U.S. financial institution of
the Central Bank of the Russian
Federation; or
(4) Any transactions involving any
person blocked pursuant to E.O. 14024
other than the blocked persons
described in paragraph (a) of this
general license, unless separately
authorized.
(d) Effective February 28, 2022,
General License No. 8, dated February
24, 2022, is replaced and superseded in
its entirety by this General License No.
8A.
Note to General License No. 8A. This
authorization is valid until June 24, 2022
unless renewed.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
Dated: February 28, 2022.
OFFICE OF FOREIGN ASSETS
CONTROL
Russian Harmful Foreign Activities
Sanctions Regulations 31 CFR Part 587
GENERAL LICENSE NO. 8B
Authorizing Transactions Related to
Energy
(a) Except as provided in paragraph
(c) of this general license, all
transactions prohibited by Executive
Order (E.O.) 14024 involving one or
more of the following entities that are
related to energy are authorized,
through 12:01 a.m. eastern daylight
time, June 24, 2022:
(1) State Corporation Bank for
Development and Foreign Economic
Affairs Vnesheconombank;
(2) Public Joint Stock Company Bank
Financial Corporation Otkritie;
(3) Sovcombank Open Joint Stock
Company;
(4) Public Joint Stock Company
Sberbank of Russia;
(5) VTB Bank Public Joint Stock
Company;
(6) Joint Stock Company Alfa-Bank;
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Federal Register / Vol. 87, No. 173 / Thursday, September 8, 2022 / Rules and Regulations
(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; or
(8) the Central Bank of the Russian
Federation.
(b) For the purposes of this general
license, the term ‘‘related to energy’’
means the extraction, production,
refinement, liquefaction, gasification,
regasification, conversion, enrichment,
fabrication, transport, or purchase of
petroleum, including crude oil, lease
condensates, unfinished oils, natural gas
liquids, petroleum products, natural gas,
or other products capable of producing
energy, such as coal, wood, or
agricultural products used to
manufacture biofuels, or uranium in any
form, as well as the development,
production, generation, transmission, or
exchange of power, through any means,
including nuclear, thermal, and
renewable energy sources.
(c) This general license does not
authorize:
(1) Any transactions prohibited by
Directive 1A under E.O. 14024,
Prohibitions Related to Certain
Sovereign Debt of the Russian
Federation;
(2) The opening or maintaining of a
correspondent account or payablethrough account for or on behalf of any
entity subject to Directive 2 under E.O.
14024, Prohibitions Related to
Correspondent or Payable-Through
Accounts and Processing of
Transactions Involving Certain Foreign
Financial Institutions;
(3) Any debit to an account on the
books of a U.S. financial institution of
the Central Bank of the Russian
Federation; or
(4) Any transactions otherwise
prohibited by the Russia 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.
(d) Effective April 6, 2022, General
License No. 8A, dated February 28,
2022, is replaced and superseded in its
entirety by this General License No. 8B.
Note to General License No. 8B. This
authorization is valid until June 24, 2022
unless renewed.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
Dated: April 6, 2022.
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OFFICE OF FOREIGN ASSETS
CONTROL
Russian Harmful Foreign Activities
Sanctions Regulations 31 CFR Part 587
GENERAL LICENSE NO. 8C
Authorizing Transactions Related to
Energy
(a) Except as provided in paragraph
(c) of this general license, all
transactions prohibited by Executive
Order (E.O.) 14024 involving one or
more of the following entities that are
related to energy are authorized,
through 12:01 a.m. eastern standard
time, December 5, 2022:
(1) State Corporation Bank for
Development and Foreign Economic
Affairs Vnesheconombank;
(2) Public Joint Stock Company Bank
Financial Corporation Otkritie;
(3) Sovcombank Open Joint Stock
Company;
(4) Public Joint Stock Company
Sberbank of Russia;
(5) VTB Bank Public Joint Stock
Company;
(6) Joint Stock Company Alfa-Bank;
(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; or
(8) the Central Bank of the Russian
Federation.
(b) For the purposes of this general
license, the term ‘‘related to energy’’
means the extraction, production,
refinement, liquefaction, gasification,
regasification, conversion, enrichment,
fabrication, transport, or purchase of
petroleum, including crude oil, lease
condensates, unfinished oils, natural gas
liquids, petroleum products, natural gas,
or other products capable of producing
energy, such as coal, wood, or
agricultural products used to
manufacture biofuels, or uranium in any
form, as well as the development,
production, generation, transmission, or
exchange of power, through any means,
including nuclear, thermal, and
renewable energy sources.
(c) This general license does not
authorize:
(1) Any transactions prohibited by
Directive 1A under E.O. 14024,
Prohibitions Related to Certain
Sovereign Debt of the Russian
Federation;
(2) The opening or maintaining of a
correspondent account or payablethrough account for or on behalf of any
entity subject to Directive 2 under E.O.
14024, Prohibitions Related to
Correspondent or Payable-Through
Accounts and Processing of
Transactions Involving Certain Foreign
Financial Institutions;
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(3) Any debit to an account on the
books of a U.S. financial institution of
the Central Bank of the Russian
Federation; or
(4) Any transactions otherwise
prohibited by the Russia 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.
(d) Effective June 14, 2022, General
License No. 8B, dated April 6, 2022, is
replaced and superseded in its entirety
by this General License No. 8C.
Note to General License No. 8C. This
authorization is valid until December 5, 2022
unless renewed.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
Dated: June 14, 2022.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
[FR Doc. 2022–19312 Filed 9–7–22; 8:45 am]
BILLING CODE 4810–AL–P
DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
31 CFR Part 587
Publication of Russian Harmful
Foreign Activities Sanctions
Regulations Web General Licenses
40B, 47A, and 48A
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 three
general licenses (GLs) issued in the
Russian Harmful Foreign Activities
Sanctions Regulations: GLs 40B, 47A,
and 48A, each of which was previously
made available on OFAC’s website.
DATES: GLs 40B, 47A, and 48A were
issued on August 3, 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.
SUMMARY:
SUPPLEMENTARY INFORMATION:
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]]>Agencies
[Federal Register Volume 87, Number 173 (Thursday, September 8, 2022)]
[Rules and Regulations]
[Pages 54890-54892]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-19312]
=======================================================================
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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 8, 8A, 8B, and 8C
AGENCY: Office of Foreign Assets Control, Treasury.
ACTION: Publication of web general licenses.
-----------------------------------------------------------------------
SUMMARY: The Department of the Treasury's Office of Foreign Assets
Control (OFAC) is publishing four general licenses (GLs) issued in the
Russian Harmful Foreign Activities Sanctions program: GLs 8, 8A, and
8B, which were previously issued on OFAC's website and are now expired,
and GL 8C, which was also issued on OFAC's website and expires December
5, 2022.
DATES: GL 8C was issued on June 14, 2022. See SUPPLEMENTARY INFORMATION
of this document 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 GL 8 on February 24, 2022 to authorize certain
transactions otherwise prohibited by Executive Order (E.O.) 14024. At
the time of issuance, OFAC made GL 8 available on its website
(www.treas.gov/ofac). Subsequently, OFAC issued further iterations of
GL 8, all of which were available on OFAC's website. GL 8A, which also
authorized certain transactions otherwise prohibited by E.O. 14024, was
issued on February 28, 2022. GL 8B, which authorized certain
transactions otherwise prohibited by the Russian Harmful Foreign
Activities Sanctions Regulations, 31 CFR part 587 (RuHSR), was issued
on April 6, 2022. All three of these GLs had an expiration date of June
24, 2022. On June 14, 2022, OFAC issued GL 8C, which also authorizes
certain transactions otherwise prohibited by the RuHSR and
[[Page 54891]]
has an expiration date of December 5, 2022. The text of GLs 8 through
8C is provided below.
OFFICE OF FOREIGN ASSETS CONTROL
Executive Order 14024 of April 15, 2021
Blocking Property With Respect to Specified Harmful Foreign Activities
of the Government of the Russian Federation
GENERAL LICENSE NO. 8
Authorizing Transactions Related to Energy
(a) Except as provided in paragraph (c) of this general license,
all transactions prohibited by Executive Order (E.O.) 14024 involving
one or more of the following entities that are related to energy are
authorized, through 12:01 a.m. eastern daylight time, June 24, 2022:
(1) State Corporation Bank for Development and Foreign Economic
Affairs Vnesheconombank;
(2) Public Joint Stock Company Bank Financial Corporation Otkritie;
(3) Sovcombank Open Joint Stock Company;
(4) Public Joint Stock Company Sberbank of Russia;
(5) VTB Bank Public Joint Stock Company; or
(6) 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) For the purposes of this general license, the term ``related to
energy'' means the extraction, production, refinement, liquefaction,
gasification, regasification, conversion, enrichment, fabrication,
transport, or purchase of petroleum, including crude oil, lease
condensates, unfinished oils, natural gas liquids, petroleum products,
natural gas, or other products capable of producing energy, such as
coal, wood, or agricultural products used to manufacture biofuels, or
uranium in any form, as well as the development, production,
generation, transmission, or exchange of power, through any means,
including nuclear, thermal, and renewable energy sources.
(c) This general license does not authorize:
(1) The opening or maintaining of a correspondent account or
payable-through account for or on behalf of any entity subject to
Directive 2 under E.O. 14024, Prohibitions Related to Correspondent or
Payable-Through Accounts and Processing of Transactions Involving
Certain Foreign Financial Institutions; or
(2) Any transactions involving any person blocked pursuant to E.O.
14024 other than the blocked persons described in paragraph (a) of this
general license, unless separately authorized.
Note to General License No. 8. This authorization is valid
until June 24, 2022 unless renewed.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
Dated: February 24, 2022.
OFFICE OF FOREIGN ASSETS CONTROL
Executive Order 14024 of April 15, 2021
Blocking Property With Respect to Specified Harmful Foreign Activities
of the Government of the Russian Federation
GENERAL LICENSE NO. 8A
Authorizing Transactions Related to Energy
(a) Except as provided in paragraph (c) of this general license,
all transactions prohibited by Executive Order (E.O.) 14024 involving
one or more of the following entities that are related to energy are
authorized, through 12:01 a.m. eastern daylight time, June 24, 2022:
(1) State Corporation Bank for Development and Foreign Economic
Affairs Vnesheconombank;
(2) Public Joint Stock Company Bank Financial Corporation Otkritie;
(3) Sovcombank Open Joint Stock Company;
(4) Public Joint Stock Company Sberbank of Russia;
(5) VTB Bank Public Joint Stock Company;
(6) 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; or
(7) the Central Bank of the Russian Federation.
(b) For the purposes of this general license, the term ``related to
energy'' means the extraction, production, refinement, liquefaction,
gasification, regasification, conversion, enrichment, fabrication,
transport, or purchase of petroleum, including crude oil, lease
condensates, unfinished oils, natural gas liquids, petroleum products,
natural gas, or other products capable of producing energy, such as
coal, wood, or agricultural products used to manufacture biofuels, or
uranium in any form, as well as the development, production,
generation, transmission, or exchange of power, through any means,
including nuclear, thermal, and renewable energy sources.
(c) This general license does not authorize:
(1) Any transactions prohibited by Directive 1A under E.O. 14024,
Prohibitions Related to Certain Sovereign Debt of the Russian
Federation;
(2) The opening or maintaining of a correspondent account or
payable-through account for or on behalf of any entity subject to
Directive 2 under E.O. 14024, Prohibitions Related to Correspondent or
Payable-Through Accounts and Processing of Transactions Involving
Certain Foreign Financial Institutions;
(3) Any debit to an account on the books of a U.S. financial
institution of the Central Bank of the Russian Federation; or
(4) Any transactions involving any person blocked pursuant to E.O.
14024 other than the blocked persons described in paragraph (a) of this
general license, unless separately authorized.
(d) Effective February 28, 2022, General License No. 8, dated
February 24, 2022, is replaced and superseded in its entirety by this
General License No. 8A.
Note to General License No. 8A. This authorization is valid
until June 24, 2022 unless renewed.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
Dated: February 28, 2022.
OFFICE OF FOREIGN ASSETS CONTROL
Russian Harmful Foreign Activities Sanctions Regulations 31 CFR Part
587
GENERAL LICENSE NO. 8B
Authorizing Transactions Related to Energy
(a) Except as provided in paragraph (c) of this general license,
all transactions prohibited by Executive Order (E.O.) 14024 involving
one or more of the following entities that are related to energy are
authorized, through 12:01 a.m. eastern daylight time, June 24, 2022:
(1) State Corporation Bank for Development and Foreign Economic
Affairs Vnesheconombank;
(2) Public Joint Stock Company Bank Financial Corporation Otkritie;
(3) Sovcombank Open Joint Stock Company;
(4) Public Joint Stock Company Sberbank of Russia;
(5) VTB Bank Public Joint Stock Company;
(6) Joint Stock Company Alfa-Bank;
[[Page 54892]]
(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; or
(8) the Central Bank of the Russian Federation.
(b) For the purposes of this general license, the term ``related to
energy'' means the extraction, production, refinement, liquefaction,
gasification, regasification, conversion, enrichment, fabrication,
transport, or purchase of petroleum, including crude oil, lease
condensates, unfinished oils, natural gas liquids, petroleum products,
natural gas, or other products capable of producing energy, such as
coal, wood, or agricultural products used to manufacture biofuels, or
uranium in any form, as well as the development, production,
generation, transmission, or exchange of power, through any means,
including nuclear, thermal, and renewable energy sources.
(c) This general license does not authorize:
(1) Any transactions prohibited by Directive 1A under E.O. 14024,
Prohibitions Related to Certain Sovereign Debt of the Russian
Federation;
(2) The opening or maintaining of a correspondent account or
payable-through account for or on behalf of any entity subject to
Directive 2 under E.O. 14024, Prohibitions Related to Correspondent or
Payable-Through Accounts and Processing of Transactions Involving
Certain Foreign Financial Institutions;
(3) Any debit to an account on the books of a U.S. financial
institution of the Central Bank of the Russian Federation; or
(4) Any transactions otherwise prohibited by the Russia 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.
(d) Effective April 6, 2022, General License No. 8A, dated February
28, 2022, is replaced and superseded in its entirety by this General
License No. 8B.
Note to General License No. 8B. This authorization is valid
until June 24, 2022 unless renewed.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
Dated: April 6, 2022.
OFFICE OF FOREIGN ASSETS CONTROL
Russian Harmful Foreign Activities Sanctions Regulations 31 CFR Part
587
GENERAL LICENSE NO. 8C
Authorizing Transactions Related to Energy
(a) Except as provided in paragraph (c) of this general license,
all transactions prohibited by Executive Order (E.O.) 14024 involving
one or more of the following entities that are related to energy are
authorized, through 12:01 a.m. eastern standard time, December 5, 2022:
(1) State Corporation Bank for Development and Foreign Economic
Affairs Vnesheconombank;
(2) Public Joint Stock Company Bank Financial Corporation Otkritie;
(3) Sovcombank Open Joint Stock Company;
(4) Public Joint Stock Company Sberbank of Russia;
(5) VTB Bank Public Joint Stock Company;
(6) Joint Stock Company Alfa-Bank;
(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; or
(8) the Central Bank of the Russian Federation.
(b) For the purposes of this general license, the term ``related to
energy'' means the extraction, production, refinement, liquefaction,
gasification, regasification, conversion, enrichment, fabrication,
transport, or purchase of petroleum, including crude oil, lease
condensates, unfinished oils, natural gas liquids, petroleum products,
natural gas, or other products capable of producing energy, such as
coal, wood, or agricultural products used to manufacture biofuels, or
uranium in any form, as well as the development, production,
generation, transmission, or exchange of power, through any means,
including nuclear, thermal, and renewable energy sources.
(c) This general license does not authorize:
(1) Any transactions prohibited by Directive 1A under E.O. 14024,
Prohibitions Related to Certain Sovereign Debt of the Russian
Federation;
(2) The opening or maintaining of a correspondent account or
payable-through account for or on behalf of any entity subject to
Directive 2 under E.O. 14024, Prohibitions Related to Correspondent or
Payable-Through Accounts and Processing of Transactions Involving
Certain Foreign Financial Institutions;
(3) Any debit to an account on the books of a U.S. financial
institution of the Central Bank of the Russian Federation; or
(4) Any transactions otherwise prohibited by the Russia 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.
(d) Effective June 14, 2022, General License No. 8B, dated April 6,
2022, is replaced and superseded in its entirety by this General
License No. 8C.
Note to General License No. 8C. This authorization is valid
until December 5, 2022 unless renewed.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
Dated: June 14, 2022.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
[FR Doc. 2022-19312 Filed 9-7-22; 8:45 am]
BILLING CODE 4810-AL-P
