Rule2023-11463
Publication of Russian Harmful Foreign Activities Sanctions Regulations Web General License 8G
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 31, 2023
Issuing agencies
Treasury DepartmentForeign Assets Control Office
Abstract
The Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing one general license (GL) issued pursuant to the Russian Harmful Foreign Activities Sanctions Regulations: GL 8G, which was previously made available on OFAC's website.
Full Text
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<title>Federal Register, Volume 88 Issue 104 (Wednesday, May 31, 2023)</title>
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[Federal Register Volume 88, Number 104 (Wednesday, May 31, 2023)]
[Rules and Regulations]
[Pages 34748-34749]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-11463]
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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 License 8G
AGENCY: Office of Foreign Assets Control, Treasury.
ACTION: Publication of a Web General License.
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SUMMARY: The Department of the Treasury's Office of Foreign Assets
Control (OFAC) is publishing one general license (GL) issued pursuant
to the Russian Harmful Foreign Activities Sanctions Regulations: GL 8G,
which was previously made available on OFAC's website.
DATES: GL 8G was issued on May 5, 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: <a href="http://www.treas.gov/ofac">www.treas.gov/ofac</a>.
Background
On May 5, 2023, OFAC issued GL 8G to authorize certain transactions
otherwise prohibited by the Russian Harmful Foreign Activities
Sanctions Regulations, 31 CFR part 587. GL 8G was made available on
OFAC's website (<a href="http://www.treas.gov/ofac">www.treas.gov/ofac</a>) when it was issued. The text of
this GL is provided below.
[[Page 34749]]
OFFICE OF FOREIGN ASSETS CONTROL
Russian Harmful Foreign Activities Sanctions Regulations
31 CFR Part 587
GENERAL LICENSE NO. 8G
Authorizing Transactions Related to Energy
(a) Except as provided in paragraph (c) of this general license,
all transactions prohibited by Executive Order (E.O.) 14024
involving one or more of the following entities that are related to
energy are authorized, through 12:01 a.m. eastern daylight time,
November 1, 2023:
(1) State Corporation Bank for Development and Foreign Economic
Affairs Vnesheconombank;
(2) Public Joint Stock Company Bank Financial Corporation
Otkritie;
(3) Sovcombank Open Joint Stock Company;
(4) Public Joint Stock Company Sberbank of Russia;
(5) VTB Bank Public Joint Stock Company;
(6) Joint Stock Company Alfa-Bank;
(7) Public Joint Stock Company Rosbank;
(8) Bank Zenit Public Joint Stock Company;
(9) Bank Saint-Petersburg Public Joint Stock Company;
(10) 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; or
(11) the Central Bank of the Russian Federation.
(b) For the purposes of this general license, the term ``related
to energy'' means the extraction, production, refinement,
liquefaction, gasification, regasification, conversion, enrichment,
fabrication, transport, or purchase of petroleum, including crude
oil, lease condensates, unfinished oils, natural gas liquids,
petroleum products, natural gas, or other products capable of
producing energy, such as coal, wood, or agricultural products used
to manufacture biofuels, or uranium in any form, as well as the
development, production, generation, transmission, or exchange of
power, through any means, including nuclear, thermal, and renewable
energy sources.
(c) This general license does not authorize:
(1) Any transactions prohibited by Directive 1A under E.O.
14024, Prohibitions Related to Certain Sovereign Debt of the Russian
Federation;
(2) The opening or maintaining of a correspondent account or
payable-through account for or on behalf of any entity subject to
Directive 2 under E.O. 14024, Prohibitions Related to Correspondent
or Payable-Through Accounts and Processing of Transactions Involving
Certain Foreign Financial Institutions;
(3) Any debit to an account on the books of a U.S. financial
institution of the Central Bank of the Russian Federation; or
(4) 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 persons described in paragraph (a) of
this general license, unless separately authorized.
(d) Effective May 5, 2023, General License No. 8F, dated
February 24, 2023, is replaced and superseded in its entirety by
this General License No. 8G.
Note to General License No. 8G. This authorization is valid
until November 1, 2023, unless renewed.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
Dated: May 5, 2023.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
[FR Doc. 2023-11463 Filed 5-30-23; 8:45 am]
BILLING CODE 4810-AL-P
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</html>Indexed from Federal Register on May 31, 2023.
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.