Rule2023-05645
Publication of Russian Harmful Foreign Activities Sanctions Regulations Determination
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
March 21, 2023
Issuing agencies
Treasury DepartmentForeign Assets Control Office
Abstract
The Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing a sector determination issued pursuant to an April 15, 2021 Executive order. The determination was previously issued on OFAC's website.
Full Text
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<title>Federal Register, Volume 88 Issue 54 (Tuesday, March 21, 2023)</title>
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[Federal Register Volume 88, Number 54 (Tuesday, March 21, 2023)]
[Rules and Regulations]
[Page 16887]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-05645]
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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 Determination
AGENCY: Office of Foreign Assets Control, Treasury.
ACTION: Publication of a determination.
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SUMMARY: The Department of the Treasury's Office of Foreign Assets
Control (OFAC) is publishing a sector determination issued pursuant to
an April 15, 2021 Executive order. The determination was previously
issued on OFAC's website.
DATES: The Determination Pursuant to Section 1(a)(i) of Executive Order
14024 was issued on February 24, 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 Sanctions Compliance &
Evaluation, 202-622-2490.
SUPPLEMENTARY INFORMATION:
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 April 15, 2021, the President, invoking the authority of, inter
alia, the International Emergency Economic Powers Act (50 U.S.C. 1701
et seq.) (IEEPA), issued Executive Order (E.O.) 14024 (86 FR 20249,
April 19, 2022). Among other prohibitions, section 1(a)(i) of E.O.
14024 blocks, with certain exceptions, all property and interests in
property that are in the United States, that come within the United
States, or that are or come within the possession or control of any
U.S. person of any person determined by the Secretary of the Treasury,
in consultation with the Secretary of State, or by the Secretary of
State, in consultation with the Secretary of the Treasury, to operate
or have operated in the technology sector or the defense and related
material sector of the Russian Federation economy, or any other sector
of the Russian Federation economy as may be determined by the Secretary
of the Treasury, in consultation with the Secretary of State. On
February 24, 2023, pursuant to delegated authority, the Director of
OFAC, in consultation with the Department of State, determined that the
prohibitions in section 1(a)(i) of E.O. 14024 shall apply to the metals
and mining sector of the Russian Federation economy.
The determination took effect on February 24, 2023. The text of the
determination is below.
OFFICE OF FOREIGN ASSETS CONTROL
Determination Pursuant to Section 1(a)(i) of Executive Order 14024
Metals and Mining Sector of the Russian Federation Economy
Section 1(a)(i) of Executive Order (E.O.) 14024 of April 15, 2021
(``Blocking Property With Respect To Specified Harmful Foreign
Activities of the Government of the Russian Federation'') imposes
economic sanctions on any person determined by the Secretary of the
Treasury, in consultation with the Secretary of State, or the Secretary
of State, in consultation with the Secretary of the Treasury, to
operate or have operated in such sectors of the Russian Federation
economy as may be determined by the Secretary of the Treasury, in
consultation with the Secretary of State.
To further address the unusual and extraordinary threat to the
national security, foreign policy, and economy of the United States
described in E.O. 14024, and in consultation with the Department of
State and pursuant to 31 CFR 587.802, I hereby determine that section
1(a)(i) of E.O. 14024 shall apply to the metals and mining sector of
the Russian Federation economy. Any person determined, pursuant to
section 1(a)(i) of E.O. 14024, to operate or have operated in this
sector shall be subject to sanctions pursuant to section 1(a)(i).
This determination shall take effect on February 24, 2023.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
February 24, 2023.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
[FR Doc. 2023-05645 Filed 3-20-23; 8:45 am]
BILLING CODE 4810-AL-P
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</html>Indexed from Federal Register on March 21, 2023.
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