Publication of Global Magnitsky Sanctions Regulations Web General Licenses 1, 2, and Subsequent Iterations, 64380-64381 [2023-20161]
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64380
Federal Register / Vol. 88, No. 180 / Tuesday, September 19, 2023 / Rules and Regulations
Persons With Respect to the
Humanitarian and Human Rights Crisis
in Ethiopia’’ (86 FR 52389). On February
9, 2022, OFAC incorporated the
prohibitions of E.O. 14046 into the
Ethiopia Sanctions Regulations, 31 CFR
part 550. GL 4 was made available on
OFAC’s website (https://
ofac.treasury.gov) when it was issued.
GL 4 is now expired. The text of this GL
is provided below.
OFFICE OF FOREIGN ASSETS CONTROL
Executive Order 14046 of September 17,
2021
Imposing Sanctions on Certain Persons With
Respect to the Humanitarian and Human
Rights Crisis in Ethiopia
GENERAL LICENSE NO. 4
Authorizing the Wind Down of Transactions
Involving Hidri Trust or Red Sea Trading
Corporation
(a) Except as provided in paragraph (b) of
this general license, all transactions and
activities prohibited by Executive Order
(E.O.) 14046 that are ordinarily incident and
necessary to the wind down of transactions
involving Hidri Trust or Red Sea Trading
Corporation are authorized through 12:01
a.m. eastern standard time, December 14,
2021.
Note to paragraph (a): OFAC’s 50 Percent
Rule does not apply to persons blocked
solely pursuant to the blocking sanctions in
section 2(a)(i)(A) of E.O. 14046.
(b) This general license does not authorize:
(1) Any debit to an account on the books
of a U.S. financial institution of any blocked
person under E.O. 14046; or
(2) Any transactions or activities otherwise
prohibited by E.O. 14046, or prohibited by
any part of 31 CFR chapter V, statute, or
other E.O., or involving any blocked person
other than the blocked persons identified in
paragraph (a) of this general license.
Bradley T. Smith,
Acting Director, Office of Foreign Assets
Control.
Dated: November 12, 2021.
Bradley T. Smith,
Director, Office of Foreign Assets Control.
[FR Doc. 2023–20160 Filed 9–18–23; 8:45 am]
BILLING CODE 4810–AL–P
DEPARTMENT OF THE TREASURY
ddrumheller on DSK120RN23PROD with RULES1
Office of Foreign Assets Control
31 CFR Part 583
Publication of Global Magnitsky
Sanctions Regulations Web General
Licenses 1, 2, and Subsequent
Iterations
Office of Foreign Assets
Control, Treasury.
AGENCY:
VerDate Sep<11>2014
16:04 Sep 18, 2023
Jkt 259001
Publication of web general
licenses.
ACTION:
The Department of the
Treasury’s Office of Foreign Assets
Control (OFAC) is publishing four
general licenses (GLs) issued pursuant
to the Global Magnitsky Sanctions
Regulations: GLs 1, 1A, 2, and 2A, each
of which was previously made available
on OFAC’s website.
DATES: GL 1 was issued on December 9,
2019. 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:
SUMMARY:
Electronic Availability
This document and additional
information concerning OFAC are
available on OFAC’s website: https://
ofac.treasury.gov.
Background
On December 9, 2019, OFAC issued
GL 1 to authorize certain transactions
otherwise prohibited by the Global
Magnitsky Sanctions Regulations, 31
CFR part 583 (‘‘the Regulations’’).
Subsequently, on December 18, 2019,
OFAC issued GL 1A, which superseded
GL 1. On July 31, 2020, OFAC issued GL
2, also authorizing certain transactions
otherwise prohibited by the Regulations.
On September 25, 2020, OFAC issued
GL 2A, which superseded GL 2. Each
GL was made available on OFAC’s
website (https://ofac.treasury.gov) when
it was issued. Each of these GLs is now
expired. The text of these GLs is
provided below.
OFFICE OF FOREIGN ASSETS CONTROL
Global Magnitsky Sanctions Regulations
31 CFR Part 583
GENERAL LICENSE NO. 1
Authorizing Certain Activities Necessary to
the Wind Down of Transactions Involving
Ventspils Freeport Authority, Ventspils
Attistibas Agentura, Biznesa Attistibas
Asociacija, and Latvijas Tranzita Biznesa
Asociacija
(a) Except as provided in paragraph (b) of
this general license, all transactions and
activities prohibited by the Global Magnitsky
Sanctions Regulations, 31 CFR part 583, that
are ordinarily incident and necessary to the
wind down of transactions involving,
directly or indirectly, one or more of the
following entities, or any entity in which one
or more of the following entities owns,
directly or indirectly, a 50 percent or greater
interest, are authorized through 12:01 a.m.
eastern standard time, January 8, 2020:
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• Ventspils Freeport Authority;
• Ventspils Attistibas Agentura (Ventspils
Development Agency);
• Biznesa Attistibas Asociacija (Business
Development Association); or
• Latvijas Tranzita Biznesa Asociacija
(Latvian Transit Business Association).
(b) This general license does not authorize:
(1) Any debit to an account on the books
of a U.S. financial institution of the entities
listed in paragraph (a), or any entity in which
one or more of the entities in paragraph (a)
owns, directly or indirectly, a 50 percent or
greater interest;
(2) Any transactions or dealings otherwise
prohibited by the Global Magnitsky
Sanctions Regulations, or any other part of 31
CFR chapter V, or any transactions or
dealings with any blocked person other than
the blocked persons described in paragraph
(a) of this general license; or
(3) The unblocking of any property blocked
pursuant to any part of 31 CFR chapter V, or
any Executive order except as authorized by
paragraph (a) of this general license.
Andrea Gacki,
Director, Office of Foreign Assets Control.
Dated: December 9, 2019.
OFFICE OF FOREIGN ASSETS CONTROL
Global Magnitsky Sanctions Regulations
31 CFR Part 583
GENERAL LICENSE NO. 1A
Authorizing Certain Activities Necessary to
the Wind Down of Transactions Involving
Ventspils Attistibas Agentura, Biznesa
Attistibas Asociacija, and Latvijas Tranzita
Biznesa Asociacija
(a) Except as provided in paragraph (b) of
this general license, all transactions and
activities prohibited by the Global Magnitsky
Sanctions Regulations, 31 CFR part 583, that
are ordinarily incident and necessary to the
wind down of transactions involving,
directly or indirectly, one or more of the
following entities, or any entity in which one
or more of the following entities owns,
directly or indirectly, a 50 percent or greater
interest, are authorized through 12:01 a.m.
eastern standard time, January 8, 2020:
• Ventspils Attistibas Agentura (Ventspils
Development Agency);
• Biznesa Attistibas Asociacija (Business
Development Association); or
• Latvijas Tranzita Biznesa Asociacija
(Latvian Transit Business Association).
(b) This general license does not authorize:
(1) Any debit to an account on the books
of a U.S. financial institution of the entities
listed in paragraph (a), or any entity in which
one or more of the entities in paragraph (a)
owns, directly or indirectly, a 50 percent or
greater interest;
(2) Any transactions or dealings otherwise
prohibited by the Global Magnitsky
Sanctions Regulations, or any other part of 31
CFR chapter V, or any transactions or
dealings with any blocked person other than
the blocked persons described in paragraph
(a) of this general license; or
(3) The unblocking of any property blocked
pursuant to any part of 31 CFR chapter V, or
any Executive order except as authorized by
paragraph (a) of this general license.
E:\FR\FM\19SER1.SGM
19SER1
Federal Register / Vol. 88, No. 180 / Tuesday, September 19, 2023 / Rules and Regulations
(c) Effective December 18, 2019, General
License 1, dated December 9, 2019, is
replaced and superseded in its entirety by
this General License 1A.
Andrea Gacki,
Director, Office of Foreign Assets Control.
Dated: December 18, 2019.
OFFICE OF FOREIGN ASSETS CONTROL
Global Magnitsky Sanctions Regulations
31 CFR Part 583
ddrumheller on DSK120RN23PROD with RULES1
GENERAL LICENSE NO. 2
Authorizing Certain Wind Down and
Divestment Transactions and Activities
Related to Blocked Subsidiaries of the
Xinjiang Production and Construction Corps
(XPCC)
(a) Except as provided in paragraph (d) of
this general license, all transactions and
activities otherwise prohibited by the Global
Magnitsky Sanctions Regulations, 31 CFR
part 583 (GMSR), that are ordinarily incident
and necessary to the wind down of
transactions involving any entity in which
the XPCC owns, directly or indirectly, a 50
percent or greater interest (Blocked XPCC
Subsidiary), are authorized through 12:01
a.m. eastern daylight time, September 30,
2020.
(b) Except as provided in paragraph (d) of
this general license, all transactions and
activities otherwise prohibited by the GMSR
that are ordinarily incident and necessary to
(1) divest or transfer debt, equity, or other
holdings in any Blocked XPCC Subsidiary to
a non-U.S. person, or (2) facilitate the transfer
of debt, equity, or other holdings in any
Blocked XPCC Subsidiary by a non-U.S.
person to another non-U.S. person, are
authorized through 12:01 a.m. eastern
daylight time, September 30, 2020.
(c) The transactions and activities
authorized in paragraph (b) include
facilitating, clearing, and settling transactions
that are ordinarily incident and necessary to
a U.S. person’s divestment to a non-U.S.
person of debt, equity, or other holdings in
any Blocked XPCC Subsidiary.
(d) This general license does not authorize:
(1) The unblocking of any property blocked
pursuant to any other part of 31 CFR chapter
V;
(2) Any debit to the account of any Blocked
XPCC Subsidiary on the books of a U.S.
financial institution;
(3) U.S. persons to sell debt, equity, or
other holdings to; to purchase or invest in
debt, equity, or other holdings in; or to
facilitate such transactions with, directly or
indirectly, any person whose property and
interests in property are blocked pursuant to
the GMSR, including any Blocked XPCC
Subsidiary, other than purchases of or
investments in debt, equity, or other holdings
in any Blocked XPCC Subsidiary that are
ordinarily incident and necessary to the
divestment or transfer of investments in debt,
equity, or other holdings in any Blocked
XPCC Subsidiary as described in paragraph
(b); or
(4) Any transactions or dealings involving
the property or interests in property of any
person whose property and interests in
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16:04 Sep 18, 2023
Jkt 259001
property are blocked pursuant to the GMSR,
including the XPCC, or any person whose
property and interests in property are
blocked pursuant to any other part of 31 CFR
chapter V, other than Blocked XPCC
Subsidiaries.
(e) U.S. persons participating in
transactions authorized by this general
license are required, within 10 business days
after the expiration date of this general
license, to file a comprehensive, detailed
report of each transaction, including the
name of this general license, the names and
addresses of parties involved, the type and
scope of activities conducted, and the dates
on which the activities occurred, with the
Office of Foreign Assets Control, Office of
Compliance and Enforcement, U.S.
Department of the Treasury, 1500
Pennsylvania Avenue NW, Freedman’s Bank
Building, Washington, DC 20220, or via
email (preferred) to OFACReport@
treasury.gov.
Andrea Gacki,
Director, Office of Foreign Assets Control.
Dated: July 31, 2020.
OFFICE OF FOREIGN ASSETS CONTROL
Global Magnitsky Sanctions Regulations
31 CFR Part 583
GENERAL LICENSE NO. 2A
Authorizing Certain Wind Down and
Divestment Transactions and Activities
Related to Blocked Subsidiaries of the
Xinjiang Production and Construction Corps
(XPCC)
(a) Except as provided in paragraph (d) of
this general license, all transactions and
activities otherwise prohibited by the Global
Magnitsky Sanctions Regulations, 31 CFR
part 583 (GMSR), that are ordinarily incident
and necessary to the wind down of
transactions involving any entity in which
the XPCC owns, directly or indirectly, a 50
percent or greater interest (Blocked XPCC
Subsidiary), are authorized through 12:01
a.m. eastern standard time, November 30,
2020.
(b) Except as provided in paragraph (d) of
this general license, all transactions and
activities otherwise prohibited by the GMSR
that are ordinarily incident and necessary to
(1) divest or transfer debt, equity, or other
holdings in any Blocked XPCC Subsidiary to
a non-U.S. person, or (2) facilitate the transfer
of debt, equity, or other holdings in any
Blocked XPCC Subsidiary by a non-U.S.
person to another non-U.S. person, are
authorized through 12:01 a.m. eastern
standard time, November 30, 2020.
(c) The transactions and activities
authorized in paragraph (b) include
facilitating, clearing, and settling transactions
that are ordinarily incident and necessary to
a U.S. person’s divestment to a non-U.S.
person of debt, equity, or other holdings in
any Blocked XPCC Subsidiary.
(d) This general license does not authorize:
(1) The unblocking of any property blocked
pursuant to any other part of 31 CFR chapter
V;
(2) Any debit to the account of any Blocked
XPCC Subsidiary on the books of a U.S.
financial institution;
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64381
(3) U.S. persons to sell debt, equity, or
other holdings to; to purchase or invest in
debt, equity, or other holdings in; or to
facilitate such transactions with, directly or
indirectly, any person whose property and
interests in property are blocked pursuant to
the GMSR, including any Blocked XPCC
Subsidiary, other than purchases of or
investments in debt, equity, or other holdings
in any Blocked XPCC Subsidiary that are
ordinarily incident and necessary to the
divestment or transfer of investments in debt,
equity, or other holdings in any Blocked
XPCC Subsidiary as described in paragraph
(b); or
(4) Any transactions or dealings involving
the property or interests in property of any
person whose property and interests in
property are blocked pursuant to the GMSR,
including the XPCC, or any person whose
property and interests in property are
blocked pursuant to any other part of 31 CFR
chapter V, other than Blocked XPCC
Subsidiaries.
(e) U.S. persons participating in
transactions authorized by this general
license are required, within 10 business days
after the expiration date of this general
license, to file a comprehensive, detailed
report of each transaction, including the
name of this general license, the names and
addresses of parties involved, the type and
scope of activities conducted, and the dates
on which the activities occurred, with the
Office of Foreign Assets Control, Office of
Compliance and Enforcement, U.S.
Department of the Treasury, 1500
Pennsylvania Avenue NW, Freedman’s Bank
Building, Washington, DC 20220, or via
email (preferred) to OFACReport@
treasury.gov.
(f) Effective September 25, 2020, General
License No. 2, dated July 31, 2020, is
replaced and superseded in its entirety by
this General License 2A.
Andrea Gacki,
Director, Office of Foreign Assets Control.
Dated: September 25, 2020.
Bradley T. Smith,
Director, Office of Foreign Assets Control.
[FR Doc. 2023–20161 Filed 9–18–23; 8:45 am]
BILLING CODE 4810–AL–P
DEPARTMENT OF HOMELAND
SECURITY
Coast Guard
33 CFR Part 100
[Docket No. USCG–2023–0768]
Special Local Regulations; Clearwater
Offshore Nationals/Race World
Offshore; Gulf of Mexico; Clearwater,
FL
Coast Guard, Department of
Homeland Security (DHS).
ACTION: Notification of enforcement of
regulation.
AGENCY:
E:\FR\FM\19SER1.SGM
19SER1
]]>Agencies
[Federal Register Volume 88, Number 180 (Tuesday, September 19, 2023)]
[Rules and Regulations]
[Pages 64380-64381]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-20161]
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DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
31 CFR Part 583
Publication of Global Magnitsky Sanctions Regulations Web General
Licenses 1, 2, and Subsequent Iterations
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
pursuant to the Global Magnitsky Sanctions Regulations: GLs 1, 1A, 2,
and 2A, each of which was previously made available on OFAC's website.
DATES: GL 1 was issued on December 9, 2019. 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 December 9, 2019, OFAC issued GL 1 to authorize certain
transactions otherwise prohibited by the Global Magnitsky Sanctions
Regulations, 31 CFR part 583 (``the Regulations''). Subsequently, on
December 18, 2019, OFAC issued GL 1A, which superseded GL 1. On July
31, 2020, OFAC issued GL 2, also authorizing certain transactions
otherwise prohibited by the Regulations. On September 25, 2020, OFAC
issued GL 2A, which superseded GL 2. Each GL was made available on
OFAC's website (https://ofac.treasury.gov) when it was issued. Each of
these GLs is now expired. The text of these GLs is provided below.
OFFICE OF FOREIGN ASSETS CONTROL
Global Magnitsky Sanctions Regulations
31 CFR Part 583
GENERAL LICENSE NO. 1
Authorizing Certain Activities Necessary to the Wind Down of
Transactions Involving Ventspils Freeport Authority, Ventspils
Attistibas Agentura, Biznesa Attistibas Asociacija, and Latvijas
Tranzita Biznesa Asociacija
(a) Except as provided in paragraph (b) of this general license,
all transactions and activities prohibited by the Global Magnitsky
Sanctions Regulations, 31 CFR part 583, that are ordinarily incident
and necessary to the wind down of transactions involving, directly
or indirectly, one or more of the following entities, or any entity
in which one or more of the following entities owns, directly or
indirectly, a 50 percent or greater interest, are authorized through
12:01 a.m. eastern standard time, January 8, 2020:
Ventspils Freeport Authority;
Ventspils Attistibas Agentura (Ventspils Development
Agency);
Biznesa Attistibas Asociacija (Business Development
Association); or
Latvijas Tranzita Biznesa Asociacija (Latvian Transit
Business Association).
(b) This general license does not authorize:
(1) Any debit to an account on the books of a U.S. financial
institution of the entities listed in paragraph (a), or any entity
in which one or more of the entities in paragraph (a) owns, directly
or indirectly, a 50 percent or greater interest;
(2) Any transactions or dealings otherwise prohibited by the
Global Magnitsky Sanctions Regulations, or any other part of 31 CFR
chapter V, or any transactions or dealings with any blocked person
other than the blocked persons described in paragraph (a) of this
general license; or
(3) The unblocking of any property blocked pursuant to any part
of 31 CFR chapter V, or any Executive order except as authorized by
paragraph (a) of this general license.
Andrea Gacki,
Director, Office of Foreign Assets Control.
Dated: December 9, 2019.
OFFICE OF FOREIGN ASSETS CONTROL
Global Magnitsky Sanctions Regulations
31 CFR Part 583
GENERAL LICENSE NO. 1A
Authorizing Certain Activities Necessary to the Wind Down of
Transactions Involving Ventspils Attistibas Agentura, Biznesa
Attistibas Asociacija, and Latvijas Tranzita Biznesa Asociacija
(a) Except as provided in paragraph (b) of this general license,
all transactions and activities prohibited by the Global Magnitsky
Sanctions Regulations, 31 CFR part 583, that are ordinarily incident
and necessary to the wind down of transactions involving, directly
or indirectly, one or more of the following entities, or any entity
in which one or more of the following entities owns, directly or
indirectly, a 50 percent or greater interest, are authorized through
12:01 a.m. eastern standard time, January 8, 2020:
Ventspils Attistibas Agentura (Ventspils Development
Agency);
Biznesa Attistibas Asociacija (Business Development
Association); or
Latvijas Tranzita Biznesa Asociacija (Latvian Transit
Business Association).
(b) This general license does not authorize:
(1) Any debit to an account on the books of a U.S. financial
institution of the entities listed in paragraph (a), or any entity
in which one or more of the entities in paragraph (a) owns, directly
or indirectly, a 50 percent or greater interest;
(2) Any transactions or dealings otherwise prohibited by the
Global Magnitsky Sanctions Regulations, or any other part of 31 CFR
chapter V, or any transactions or dealings with any blocked person
other than the blocked persons described in paragraph (a) of this
general license; or
(3) The unblocking of any property blocked pursuant to any part
of 31 CFR chapter V, or any Executive order except as authorized by
paragraph (a) of this general license.
[[Page 64381]]
(c) Effective December 18, 2019, General License 1, dated
December 9, 2019, is replaced and superseded in its entirety by this
General License 1A.
Andrea Gacki,
Director, Office of Foreign Assets Control.
Dated: December 18, 2019.
OFFICE OF FOREIGN ASSETS CONTROL
Global Magnitsky Sanctions Regulations
31 CFR Part 583
GENERAL LICENSE NO. 2
Authorizing Certain Wind Down and Divestment Transactions and
Activities Related to Blocked Subsidiaries of the Xinjiang Production
and Construction Corps (XPCC)
(a) Except as provided in paragraph (d) of this general license,
all transactions and activities otherwise prohibited by the Global
Magnitsky Sanctions Regulations, 31 CFR part 583 (GMSR), that are
ordinarily incident and necessary to the wind down of transactions
involving any entity in which the XPCC owns, directly or indirectly,
a 50 percent or greater interest (Blocked XPCC Subsidiary), are
authorized through 12:01 a.m. eastern daylight time, September 30,
2020.
(b) Except as provided in paragraph (d) of this general license,
all transactions and activities otherwise prohibited by the GMSR
that are ordinarily incident and necessary to (1) divest or transfer
debt, equity, or other holdings in any Blocked XPCC Subsidiary to a
non-U.S. person, or (2) facilitate the transfer of debt, equity, or
other holdings in any Blocked XPCC Subsidiary by a non-U.S. person
to another non-U.S. person, are authorized through 12:01 a.m.
eastern daylight time, September 30, 2020.
(c) The transactions and activities authorized in paragraph (b)
include facilitating, clearing, and settling transactions that are
ordinarily incident and necessary to a U.S. person's divestment to a
non-U.S. person of debt, equity, or other holdings in any Blocked
XPCC Subsidiary.
(d) This general license does not authorize:
(1) The unblocking of any property blocked pursuant to any other
part of 31 CFR chapter V;
(2) Any debit to the account of any Blocked XPCC Subsidiary on
the books of a U.S. financial institution;
(3) U.S. persons to sell debt, equity, or other holdings to; to
purchase or invest in debt, equity, or other holdings in; or to
facilitate such transactions with, directly or indirectly, any
person whose property and interests in property are blocked pursuant
to the GMSR, including any Blocked XPCC Subsidiary, other than
purchases of or investments in debt, equity, or other holdings in
any Blocked XPCC Subsidiary that are ordinarily incident and
necessary to the divestment or transfer of investments in debt,
equity, or other holdings in any Blocked XPCC Subsidiary as
described in paragraph (b); or
(4) Any transactions or dealings involving the property or
interests in property of any person whose property and interests in
property are blocked pursuant to the GMSR, including the XPCC, or
any person whose property and interests in property are blocked
pursuant to any other part of 31 CFR chapter V, other than Blocked
XPCC Subsidiaries.
(e) U.S. persons participating in transactions authorized by
this general license are required, within 10 business days after the
expiration date of this general license, to file a comprehensive,
detailed report of each transaction, including the name of this
general license, the names and addresses of parties involved, the
type and scope of activities conducted, and the dates on which the
activities occurred, with the Office of Foreign Assets Control,
Office of Compliance and Enforcement, U.S. Department of the
Treasury, 1500 Pennsylvania Avenue NW, Freedman's Bank Building,
Washington, DC 20220, or via email (preferred) to
[email protected].
Andrea Gacki,
Director, Office of Foreign Assets Control.
Dated: July 31, 2020.
OFFICE OF FOREIGN ASSETS CONTROL
Global Magnitsky Sanctions Regulations
31 CFR Part 583
GENERAL LICENSE NO. 2A
Authorizing Certain Wind Down and Divestment Transactions and
Activities Related to Blocked Subsidiaries of the Xinjiang Production
and Construction Corps (XPCC)
(a) Except as provided in paragraph (d) of this general license,
all transactions and activities otherwise prohibited by the Global
Magnitsky Sanctions Regulations, 31 CFR part 583 (GMSR), that are
ordinarily incident and necessary to the wind down of transactions
involving any entity in which the XPCC owns, directly or indirectly,
a 50 percent or greater interest (Blocked XPCC Subsidiary), are
authorized through 12:01 a.m. eastern standard time, November 30,
2020.
(b) Except as provided in paragraph (d) of this general license,
all transactions and activities otherwise prohibited by the GMSR
that are ordinarily incident and necessary to (1) divest or transfer
debt, equity, or other holdings in any Blocked XPCC Subsidiary to a
non-U.S. person, or (2) facilitate the transfer of debt, equity, or
other holdings in any Blocked XPCC Subsidiary by a non-U.S. person
to another non-U.S. person, are authorized through 12:01 a.m.
eastern standard time, November 30, 2020.
(c) The transactions and activities authorized in paragraph (b)
include facilitating, clearing, and settling transactions that are
ordinarily incident and necessary to a U.S. person's divestment to a
non-U.S. person of debt, equity, or other holdings in any Blocked
XPCC Subsidiary.
(d) This general license does not authorize:
(1) The unblocking of any property blocked pursuant to any other
part of 31 CFR chapter V;
(2) Any debit to the account of any Blocked XPCC Subsidiary on
the books of a U.S. financial institution;
(3) U.S. persons to sell debt, equity, or other holdings to; to
purchase or invest in debt, equity, or other holdings in; or to
facilitate such transactions with, directly or indirectly, any
person whose property and interests in property are blocked pursuant
to the GMSR, including any Blocked XPCC Subsidiary, other than
purchases of or investments in debt, equity, or other holdings in
any Blocked XPCC Subsidiary that are ordinarily incident and
necessary to the divestment or transfer of investments in debt,
equity, or other holdings in any Blocked XPCC Subsidiary as
described in paragraph (b); or
(4) Any transactions or dealings involving the property or
interests in property of any person whose property and interests in
property are blocked pursuant to the GMSR, including the XPCC, or
any person whose property and interests in property are blocked
pursuant to any other part of 31 CFR chapter V, other than Blocked
XPCC Subsidiaries.
(e) U.S. persons participating in transactions authorized by
this general license are required, within 10 business days after the
expiration date of this general license, to file a comprehensive,
detailed report of each transaction, including the name of this
general license, the names and addresses of parties involved, the
type and scope of activities conducted, and the dates on which the
activities occurred, with the Office of Foreign Assets Control,
Office of Compliance and Enforcement, U.S. Department of the
Treasury, 1500 Pennsylvania Avenue NW, Freedman's Bank Building,
Washington, DC 20220, or via email (preferred) to
[email protected].
(f) Effective September 25, 2020, General License No. 2, dated
July 31, 2020, is replaced and superseded in its entirety by this
General License 2A.
Andrea Gacki,
Director, Office of Foreign Assets Control.
Dated: September 25, 2020.
Bradley T. Smith,
Director, Office of Foreign Assets Control.
[FR Doc. 2023-20161 Filed 9-18-23; 8:45 am]
BILLING CODE 4810-AL-P
