Rule2022-11471
Publication of Ukraine-/Russia-Related Web General Licenses 15K and 15L
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
May 27, 2022
Issuing agencies
Treasury DepartmentForeign Assets Control Office
Abstract
The Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing two general licenses (GLs) issued in the Ukraine-/Russia-Related sanctions program: GL 15K, which was previously issued on OFAC's website and is now expired, and GL 15L, which was also previously issued on OFAC's website and had an expiration date of May 25, 2022.
Full Text
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<title>Federal Register, Volume 87 Issue 103 (Friday, May 27, 2022)</title>
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[Federal Register Volume 87, Number 103 (Friday, May 27, 2022)]
[Rules and Regulations]
[Pages 32082-32084]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-11471]
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DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
31 CFR Part 589
Publication of Ukraine-/Russia-Related Web General Licenses 15K
and 15L
AGENCY: Office of Foreign Assets Control, Treasury.
ACTION: Publication of Web General Licenses.
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SUMMARY: The Department of the Treasury's Office of Foreign Assets
Control (OFAC) is publishing two general licenses (GLs) issued in the
Ukraine-/Russia-Related sanctions program: GL 15K, which was previously
issued on OFAC's website and is now expired, and GL 15L, which was also
previously issued on OFAC's website and had an expiration date of May
25, 2022.
DATES: GL 15L was issued on April 25, 2022. See SUPPLEMENTARY
INFORMATION of this rule 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
[[Page 32083]]
available on OFAC's website: <a href="http://www.treas.gov/ofac">www.treas.gov/ofac</a>.
Background
OFAC issued GL 15 on May 22, 2018 to authorize certain transactions
necessary for the maintenance or wind down of operations or existing
contracts with GAZ Group, or entities in which GAZ Group owned,
directly or indirectly, a 50 percent or greater interest, otherwise
prohibited by the Ukraine Related Sanctions Regulations, 31 CFR part
589 (which have since been renamed the Ukraine-/Russia-Related
Sanctions Regulations). At the time of issuance, OFAC made GL 15, which
had an expiration date of October 23, 2018, available on its website
(<a href="http://www.treas.gov/ofac">www.treas.gov/ofac</a>). Subsequently, OFAC issued further iterations of
GL 15, all of which were available on OFAC's website. These iterations
extended the period the authorizations in GL 15 remained in effect and
broadened the scope of GL 15's authorizations. OFAC published GLs 15
through GL 15J in the Federal Register on July 28, 2021 (86 FR 40310,
July 28, 2021).
On January 24, 2022, OFAC issued GL 15K, replacing and superseding
GL 15J. GL 15K had an expiration date of April 27, 2022. On April 25,
2022, OFAC issued GL 15L, replacing and superseding GL 15K. GL 15L
narrows the scope of GL 15K and had an expiration date of May 25, 2022.
The text of GLs 15K and 15L is provided below.
OFFICE OF FOREIGN ASSETS CONTROL
Ukraine Related Sanctions Regulations 31 CFR Part 589
GENERAL LICENSE NO. 15K
Authorizing Certain Activities Involving GAZ Group
(a) Except as provided in paragraphs (c) and (d) of this general
license, transactions and activities otherwise prohibited by the
Ukraine Related Sanctions Regulations, 31 CFR part 589 (URSR), that are
ordinarily incident and necessary to the manufacture and sale of
existing and new models of vehicles, components, and spare parts,
including automobiles, light commercial vehicles, trucks, buses,
engines/powertrains, produced by GAZ Group, or any entity in which GAZ
Group owns, directly or indirectly, a 50 percent or greater interest,
are authorized through 12:01 a.m. eastern daylight time, April 27,
2022, including:
<bullet> Research, design, development, production, modification,
upgrade, certification, distribution, and marketing;
<bullet> Provision or receipt of services, including warranty,
maintenance, logistics, storage, shipping, insurance, security,
brokerage, legal, banking and financial (including financing and
renegotiation of debt), technical and engineering, advertising, and
customer services;
<bullet> Entry into joint ventures, contract manufacturing
agreements, supplier contracts, and other new contracts associated with
activities authorized by paragraph (a);
<bullet> Payment and receipt of dividends and other funds owed by
or to GAZ Group relating to activities authorized by paragraph (a);
<bullet> The conduct of financial transactions associated with
activities authorized by paragraph (a); and
<bullet> Activities necessary for compliance with paragraph
(f)(1)(i), including financial auditing services.
(b) Except as provided in paragraphs (c) and (d) of this general
license, all transactions and activities otherwise prohibited by the
URSR that are ordinarily incident and necessary to the maintenance or
wind down of operations, contracts, or other agreements involving GAZ
Group, or any other entity in which GAZ Group owns, directly or
indirectly, a 50 percent or greater interest, and that were in effect
prior to April 6, 2018, including the importation of goods, services,
or technology into the United States, are authorized through 12:01 a.m.
eastern daylight time, April 27, 2022.
(c) All funds in accounts of blocked persons identified in
paragraphs (a) and (b) that were blocked as of 12:01 a.m. eastern
daylight time, May 22, 2018, remain blocked, except that such funds may
be used for the activities authorized by this general license.
(d) This general license does not authorize:
(1) The divestiture or transfer of debt, equity, or other holdings
in, to, or for the benefit of the blocked persons described above;
(2) Any transactions or dealings otherwise prohibited by any other
part of 31 CFR chapter V, or any transactions or dealings with any
blocked person other than the blocked persons described in paragraphs
(a) and (b) of this general license; or
(3) The unblocking of any property blocked pursuant to any part of
31 CFR chapter V, except as authorized by paragraphs (a) or (b).
(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 detailed report of
each transaction, including the names and addresses of parties
involved, the type and scope of activities conducted, and the dates on
which the activities occurred, via email to <a href="/cdn-cgi/l/email-protection#b7f8f1f6f4e5d2c7d8c5c3f7c3c5d2d6c4c2c5ce99d0d8c1"><span class="__cf_email__" data-cfemail="014e4740425364716e73754175736460727473782f666e77">[email protected]</span></a>
(preferred) or mail to 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.
(f)(1) GAZ Group is required to provide the following information
to OFAC:
(i) Audited financial statements and board meeting minutes for GAZ
Group, reports of composition and changes to GAZ Group's Board of
Directors, lists of any new joint ventures entered into by GAZ Group
and any joint ventures under development by GAZ Group in which GAZ
Group is a participant, and financing agreements entered into by GAZ
Group valued at or exceeding $5 million U.S. dollars. This information
must be reported within five days of the close of each calendar
quarter.
(ii) Certification that GAZ Group is not acting for or on behalf of
Mr. Oleg Deripaska or any other person included on OFAC's list of
Specially Designated Nationals and Blocked Persons, and that control
over the actions, policies, and decisions of the company rests with GAZ
Group's Board of Directors and shareholders. This information must be
reported within five days of the close of each calendar month.
(2) Information reported under paragraph (f)(1) of this general
license must reference General License 15K and be sent via email to
<a href="/cdn-cgi/l/email-protection#642b2225273601140b161024101601051711161d4a030b12"><span class="__cf_email__" data-cfemail="f6b9b0b7b5a49386998482b6828493978583848fd8919980">[email protected]</span></a> (preferred) or mail to 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.
(g) Effective January 24, 2022 General License No. 15J, dated
December 23, 2020, is replaced and superseded in its entirety by this
General License No. 15K.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
Dated: January 24, 2022.
OFFICE OF FOREIGN ASSETS CONTROL
Ukraine Related Sanctions Regulations 31 CFR Part 589
GENERAL LICENSE NO. 15L
Authorizing the Wind Down of Transactions Involving GAZ Group
(a) Except as provided in paragraph (b), all transactions and
activities prohibited by the Ukraine Related
[[Page 32084]]
Sanctions Regulations, 31 CFR part 589 (URSR), that are ordinarily
incident and necessary to the wind down of transactions involving GAZ
Group, or any entity in which GAZ Group owns, directly or indirectly, a
50 percent or greater interest, are authorized through 12:01 a.m.
eastern daylight time, May 25, 2022.
(b) This general license does not authorize:
(1) Any debit to an account of GAZ Group, or any entity in which
GAZ Group owns, directly or indirectly, a 50 percent or greater
interest, on the books of a U.S. financial institution; or
(2) Any transactions or activities otherwise prohibited by the
URSR, or prohibited by any part of 31 CFR chapter V, statute, or
Executive order, or involving any blocked person other than the blocked
persons described in paragraph (a) of this general license.
(c) Effective April 25, 2022, General License No. 15K, dated
January 24, 2022, is replaced and superseded in its entirety by this
General License No. 15L.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
Dated: April 25, 2022.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
[FR Doc. 2022-11471 Filed 5-26-22; 8:45 am]
BILLING CODE 4810-AL-P
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</html>Indexed from Federal Register on May 27, 2022.
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