Publication of Russian Harmful Foreign Activities Sanctions Regulations Web General Licenses 40B, 47A, and 48A, 54892-54894 [2022-19443]
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54892
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2022, is replaced and superseded in its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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Federal Register / Vol. 87, No. 173 / Thursday, September 8, 2022 / Rules and Regulations
Electronic Availability
This document and additional
information concerning OFAC are
available on OFAC’s website:
www.treas.gov/ofac.
Background
On August 2, 2022, OFAC issued GLs
40A, 47, and 48 to authorize certain
transactions otherwise prohibited by the
Russian Harmful Foreign Activities
Sanctions Regulations, 31 CFR part 587.
On August 3, 2022, OFAC issued GLs
40B, 47A, and 48A to clarify that the
licenses apply to Joint Stock Company
State Transportation Leasing Company.
GL 40B replaced and superseded GL
40A and contains no expiration date. GL
47A replaced and superseded GL 47 and
expires at 12:01 a.m. eastern daylight
time, September 1, 2022. GL 48A
replaced and superseded GL 48 and
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 48A, and
(ii) 12:01 a.m. eastern daylight time,
October 31, 2022, for the authorization
in paragraph (a)(2) of GL 48. At the time
of issuance, GLs 40B, 47A, and 48A
were each 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
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GENERAL LICENSE NO. 40B
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;
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(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 3, 2022, General
License No. 40A, dated August 2, 2022,
is replaced and superseded in its
entirety by this General License No.
40B.
Note to General License 40B. 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
Administration Regulations, 15 CFR parts
730 through 774.
Bradley T. Smith,
Deputy Director, Office of Foreign Assets
Control.
Dated: August 3, 2022.
Annex—Blocked Entities Described in
Paragraph (a) of General License 40B
List of blocked entities described in
paragraph (a) of General License 40B:
(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;
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54893
(r) Joint Stock Company State
Transportation Leasing 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. 47A
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 State
Transportation Leasing 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
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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
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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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]]>Agencies
[Federal Register Volume 87, Number 173 (Thursday, September 8, 2022)]
[Rules and Regulations]
[Pages 54892-54894]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-19443]
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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 40B, 47A, and 48A
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 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.
SUPPLEMENTARY INFORMATION:
[[Page 54893]]
Electronic Availability
This document and additional information concerning OFAC are
available on OFAC's website: www.treas.gov/ofac.
Background
On August 2, 2022, OFAC issued GLs 40A, 47, and 48 to authorize
certain transactions otherwise prohibited by the Russian Harmful
Foreign Activities Sanctions Regulations, 31 CFR part 587. On August 3,
2022, OFAC issued GLs 40B, 47A, and 48A to clarify that the licenses
apply to Joint Stock Company State Transportation Leasing Company.
GL 40B replaced and superseded GL 40A and contains no expiration
date. GL 47A replaced and superseded GL 47 and expires at 12:01 a.m.
eastern daylight time, September 1, 2022. GL 48A replaced and
superseded GL 48 and 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 48A, and (ii) 12:01 a.m. eastern
daylight time, October 31, 2022, for the authorization in paragraph
(a)(2) of GL 48. At the time of issuance, GLs 40B, 47A, and 48A were
each 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. 40B
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 3, 2022, General License No. 40A, dated August
2, 2022, is replaced and superseded in its entirety by this General
License No. 40B.
Note to General License 40B. 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 through 774.
Bradley T. Smith,
Deputy Director, Office of Foreign Assets Control.
Dated: August 3, 2022.
Annex--Blocked Entities Described in Paragraph (a) of General License
40B
List of blocked entities described in paragraph (a) of General
License 40B:
(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 State Transportation Leasing 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. 47A
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 State Transportation Leasing 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
[[Page 54894]]
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
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 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
