Publication of Russian Harmful Foreign Activities Sanctions Regulations Web General Licenses 70 and 71., 52038 [2023-16731]
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Federal Register / Vol. 88, No. 150 / Monday, August 7, 2023 / Rules and Regulations
DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
31 CFR Part 587
Publication of Russian Harmful
Foreign Activities Sanctions
Regulations Web General Licenses 70
and 71.
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 pursuant
to the Russian Harmful Foreign
Activities Sanctions Regulations: GLs 70
and 71, each of which was previously
made available on OFAC’s website.
DATES: GLs 70 and 71 were issued on
July 20, 2023. See SUPPLEMENTARY
INFORMATION for additional relevant
dates.
SUMMARY:
FOR FURTHER INFORMATION CONTACT:
OFAC: Assistant Director for Licensing,
202–622–2480; Assistant Director for
Regulatory Affairs, 202–622–4855; or
Assistant Director for Compliance, 202–
622–2490.
SUPPLEMENTARY INFORMATION:
Electronic Availability
Background
On July 20, 2023, OFAC issued GLs
70 and 71 to authorize certain
transactions otherwise prohibited by the
Russian Harmful Foreign Activities
Sanctions Regulations, 31 CFR part 587.
GLs 70 and 71 each have an expiration
date of October 18, 2023. Each GL was
made available on OFAC’s website
(https://ofac.treasury.gov/) at the time of
publication. The text of these GLs is
provided below.
OFFICE OF FOREIGN ASSETS CONTROL
Russian Harmful Foreign Activities
Sanctions Regulations
31 CFR Part 587
ddrumheller on DSK120RN23PROD with RULES1
GENERAL LICENSE NO. 70
Authorizing the Wind Down of Transactions
Involving Joint Stock Company Ural Mining
and Metallurgical Company
(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
the wind down of any transaction involving
15:10 Aug 04, 2023
Jkt 259001
OFFICE OF FOREIGN ASSETS CONTROL
Russian Harmful Foreign Activities
Sanctions Regulations
31 CFR Part 587
This document and additional
information concerning OFAC are
available on OFAC’s website: https://
ofac.treasury.gov/.
VerDate Sep<11>2014
Joint Stock Company Ural Mining and
Metallurgical Company (UMMC), or any
entity in which UMMC owns, directly or
indirectly, a 50 percent or greater interest
(collectively, the ‘‘UMMC Entities’’), are
authorized through 12:01 a.m. eastern
daylight time, October 18, 2023, provided
that any payment to a UMMC Entity 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 PayableThrough 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, as amended; or
(3) Any transactions otherwise prohibited
by the RuHSR, including transactions
involving any person blocked pursuant to the
RuHSR other than the UMMC Entities, unless
separately authorized.
Bradley T. Smith,
Deputy Director, Office of Foreign Assets
Control.
Dated: July 20, 2023.
financial institution or their successor-ininterest, all transactions prohibited by E.O.
14024 that are ordinarily incident and
necessary to the processing of funds
involving one or more of the Blocked Entities
as an originating, intermediary, or beneficiary
financial institution, through 12:01 a.m.
eastern daylight time, October 18, 2023.
(c) This general license does not authorize:
(1) Any transactions prohibited by
Directive 2 under E.O. 14024, 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 RuHSR, including transactions
involving any person blocked pursuant to the
RuHSR other than the Blocked Entities
described in paragraph (a) of this general
license, unless separately authorized.
Bradley T. Smith,
Deputy Director, Office of Foreign Assets
Control.
Dated: July 20, 2023.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
[FR Doc. 2023–16731 Filed 8–4–23; 8:45 am]
BILLING CODE 4810–AL–P
DEPARTMENT OF THE TREASURY
GENERAL LICENSE NO. 71
Office of Foreign Assets Control
Authorizing the Wind Down and Rejection of
Transactions Involving Certain Entities
Blocked on July 20, 2023
(a) Except as provided in paragraph (c) of
this general license, all transactions
prohibited by Executive Order (E.O.) 14024
that are ordinarily incident and necessary to
the wind down of transactions involving one
or more of the following blocked persons
(collectively, the ‘‘Blocked Entities’’) are
authorized through 12:01 a.m. eastern
daylight time, October 18, 2023, provided
that any payment to a Blocked Entity is made
into a blocked account in accordance with
the Russian Harmful Foreign Activities
Sanctions Regulations, 31 CFR part 587
(RuHSR):
(1) Joint Stock Company Petersburg Social
Commercial Bank;
(2) Joint Stock Company Locko Bank;
(3) Unistream Commercial Bank JSC;
(4) Joint Stock Company Commercial Bank
Solidarnost;
(5) JSC Tinkoff Bank; 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) Except as provided in paragraph (c) of
this general license, U.S. persons are
authorized to reject, rather than block, and
return to the originator or originating
31 CFR Part 591
PO 00000
Frm 00018
Fmt 4700
Sfmt 4700
Publication of Venezuela Sanctions
Regulations Web General License 40B.
Office of Foreign Assets
Control, Treasury.
AGENCY:
ACTION:
Publication of a web general
license.
The Department of the
Treasury’s Office of Foreign Assets
Control (OFAC) is publishing one
general license (GL) issued pursuant to
the Venezuela Sanctions Regulations:
GL 40B, which was previously made
available on OFAC’s website.
SUMMARY:
GL 40B was issued on July 10,
2023. See SUPPLEMENTARY INFORMATION
for additional relevant dates.
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 Compliance, 202–
622–2490.
SUPPLEMENTARY INFORMATION:
E:\FR\FM\07AUR1.SGM
07AUR1
]]>Agencies
[Federal Register Volume 88, Number 150 (Monday, August 7, 2023)]
[Rules and Regulations]
[Page 52038]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-16731]
[[Page 52038]]
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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 70 and 71.
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 two general licenses (GLs) issued pursuant
to the Russian Harmful Foreign Activities Sanctions Regulations: GLs 70
and 71, each of which was previously made available on OFAC's website.
DATES: GLs 70 and 71 were issued on July 20, 2023. 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 Compliance, 202-622-2490.
SUPPLEMENTARY INFORMATION:
Electronic Availability
This document and additional information concerning OFAC are
available on OFAC's website: https://ofac.treasury.gov/.
Background
On July 20, 2023, OFAC issued GLs 70 and 71 to authorize certain
transactions otherwise prohibited by the Russian Harmful Foreign
Activities Sanctions Regulations, 31 CFR part 587. GLs 70 and 71 each
have an expiration date of October 18, 2023. Each GL was made available
on OFAC's website (https://ofac.treasury.gov/) at the time of
publication. 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. 70
Authorizing the Wind Down of Transactions Involving Joint Stock Company
Ural Mining and Metallurgical Company
(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 the wind down of any
transaction involving Joint Stock Company Ural Mining and
Metallurgical Company (UMMC), or any entity in which UMMC owns,
directly or indirectly, a 50 percent or greater interest
(collectively, the ``UMMC Entities''), are authorized through 12:01
a.m. eastern daylight time, October 18, 2023, provided that any
payment to a UMMC Entity 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,
as amended; or
(3) Any transactions otherwise prohibited by the RuHSR,
including transactions involving any person blocked pursuant to the
RuHSR other than the UMMC Entities, unless separately authorized.
Bradley T. Smith,
Deputy Director, Office of Foreign Assets Control.
Dated: July 20, 2023.
OFFICE OF FOREIGN ASSETS CONTROL
Russian Harmful Foreign Activities Sanctions Regulations
31 CFR Part 587
GENERAL LICENSE NO. 71
Authorizing the Wind Down and Rejection of Transactions Involving
Certain Entities Blocked on July 20, 2023
(a) Except as provided in paragraph (c) of this general license,
all transactions prohibited by Executive Order (E.O.) 14024 that are
ordinarily incident and necessary to the wind down of transactions
involving one or more of the following blocked persons
(collectively, the ``Blocked Entities'') are authorized through
12:01 a.m. eastern daylight time, October 18, 2023, provided that
any payment to a Blocked Entity is made into a blocked account in
accordance with the Russian Harmful Foreign Activities Sanctions
Regulations, 31 CFR part 587 (RuHSR):
(1) Joint Stock Company Petersburg Social Commercial Bank;
(2) Joint Stock Company Locko Bank;
(3) Unistream Commercial Bank JSC;
(4) Joint Stock Company Commercial Bank Solidarnost;
(5) JSC Tinkoff Bank; 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) Except as provided in paragraph (c) of this general license,
U.S. persons are authorized to reject, rather than block, and return
to the originator or originating financial institution or their
successor-in-interest, all transactions prohibited by E.O. 14024
that are ordinarily incident and necessary to the processing of
funds involving one or more of the Blocked Entities as an
originating, intermediary, or beneficiary financial institution,
through 12:01 a.m. eastern daylight time, October 18, 2023.
(c) 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 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 RuHSR,
including transactions involving any person blocked pursuant to the
RuHSR other than the Blocked Entities described in paragraph (a) of
this general license, unless separately authorized.
Bradley T. Smith,
Deputy Director, Office of Foreign Assets Control.
Dated: July 20, 2023.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
[FR Doc. 2023-16731 Filed 8-4-23; 8:45 am]
BILLING CODE 4810-AL-P
