Rule2023-13117
Publication of Russian Harmful Foreign Activities Sanctions Regulations Web General License 69
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
June 21, 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 69, which was previously made available on OFAC's website.
Full Text
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<title>Federal Register, Volume 88 Issue 118 (Wednesday, June 21, 2023)</title>
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[Federal Register Volume 88, Number 118 (Wednesday, June 21, 2023)]
[Rules and Regulations]
[Pages 40095-40096]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-13117]
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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 69
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 69,
which was previously made available on OFAC's website.
DATES: GL 69 was issued on May 31, 2023. See SUPPLEMENTARY INFORMATION
for additional relevant dates.
FOR FURTHER INFORMATION CONTACT: OFAC: Assistant Director for
Licensing,
[[Page 40096]]
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="https://ofac.treasury.gov">https://ofac.treasury.gov</a>.
Background
On May 31, 2023, OFAC issued GL 69 to authorize certain
transactions otherwise prohibited by the Russian Harmful Foreign
Activities Sanctions Regulations, 31 CFR part 587. GL 69 was made
available on OFAC's website (<a href="https://ofac.treasury.gov">https://ofac.treasury.gov</a>) when it was
issued. The text of this GL is provided below.
OFFICE OF FOREIGN ASSETS CONTROL
Russian Harmful Foreign Activities Sanctions Regulations 31 CFR Part
587
GENERAL LICENSE NO. 69
Authorizing Certain Debt Securities Servicing Transactions Involving
International Investment Bank
(a) Except as provided in paragraph (c) of this general license,
all transactions prohibited by Executive Order (E.O.) 14024 that are
ordinarily incident and necessary to the processing of interest or
principal payments on debt securities issued by International
Investment Bank (IIB) prior to April 12, 2023 are authorized through
12:01 a.m. eastern daylight time June 30, 2023, provided that such
interest or principal payments are not made to persons located in
the Russian Federation and that any payments to a blocked person,
wherever located, are made into a blocked account in accordance with
the Russian Harmful Foreign Activities Sanctions Regulations, 31 CFR
part 587 (RuHSR).
Note to paragraph (a). For the purposes of this general
license, the term ``person located in the Russian Federation''
includes persons in the Russian Federation, individuals ordinarily
resident in the Russian Federation, and entities incorporated or
organized under the laws of the Russian Federation or any
jurisdiction within the Russian Federation.
(b) U.S. financial institutions are authorized to unblock
interest or principal payments that were blocked on or after April
12, 2023 but before May 31, 2023 on debt securities issued by IIB
prior to April 12, 2023, provided that the funds are unblocked
solely to effect transactions authorized in paragraph (a) of this
general license.
Note to paragraph (b). U.S. financial institutions unblocking
property pursuant to paragraph (b) of this general license are
required to file an unblocking report pursuant to 31 CFR 501.603.
(c) 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 blocked person described in paragraph (a) of
this general license, unless separately authorized.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
Dated: May 31, 2023
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
[FR Doc. 2023-13117 Filed 6-20-23; 8:45 am]
BILLING CODE 4810-AL-P
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</html>Indexed from Federal Register on June 21, 2023.
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