Rule2022-19443
Publication of Russian Harmful Foreign Activities Sanctions Regulations Web General Licenses 40B, 47A, and 48A
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
September 8, 2022
Issuing agencies
Treasury DepartmentForeign Assets Control Office
Abstract
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.
Full Text
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<title>Federal Register, Volume 87 Issue 173 (Thursday, September 8, 2022)</title>
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[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 [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[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.
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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: <a href="http://www.treas.gov/ofac">www.treas.gov/ofac</a>.
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 (<a href="http://www.treas.gov/ofac">www.treas.gov/ofac</a>). 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
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</html>Indexed from Federal Register on September 8, 2022.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.