Publication of Ethiopia Sanctions Regulations Web General License 4

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 19, 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 Ethiopia Sanctions Regulations: GL 4, which was previously made available on OFAC's website.

Full Text

<html>
<head>
<title>Federal Register, Volume 88 Issue 180 (Tuesday, September 19, 2023)</title>
</head>
<body><pre>
[Federal Register Volume 88, Number 180 (Tuesday, September 19, 2023)]
[Rules and Regulations]
[Pages 64379-64380]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-20160]


=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY

Office of Foreign Assets Control

31 CFR Part 550


Publication of Ethiopia Sanctions Regulations Web General License 
4

AGENCY: Office of Foreign Assets Control, Treasury.

ACTION: Publication of web general license.

-----------------------------------------------------------------------

SUMMARY: The Department of the Treasury's Office of Foreign Assets 
Control (OFAC) is publishing one general license (GL) issued pursuant 
to the Ethiopia Sanctions Regulations: GL 4, which was previously made 
available on OFAC's website.

DATES: GL 4 was issued on November 12, 2021. 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="https://ofac.treasury.gov">https://ofac.treasury.gov</a>.

Background

    On November 12, 2021, OFAC issued GL 4 to authorize certain 
transactions otherwise prohibited by Executive Order (E.O.) 14046 of 
September 17, 2021, ``Imposing Sanctions on Certain

[[Page 64380]]

Persons With Respect to the Humanitarian and Human Rights Crisis in 
Ethiopia'' (86 FR 52389). On February 9, 2022, OFAC incorporated the 
prohibitions of E.O. 14046 into the Ethiopia Sanctions Regulations, 31 
CFR part 550. GL 4 was made available on OFAC's website (<a href="https://ofac.treasury.gov">https://ofac.treasury.gov</a>) when it was issued. GL 4 is now expired. The text of 
this GL is provided below.

OFFICE OF FOREIGN ASSETS CONTROL

Executive Order 14046 of September 17, 2021

Imposing Sanctions on Certain Persons With Respect to the Humanitarian 
and Human Rights Crisis in Ethiopia

GENERAL LICENSE NO. 4

Authorizing the Wind Down of Transactions Involving Hidri Trust or Red 
Sea Trading Corporation

    (a) Except as provided in paragraph (b) of this general license, 
all transactions and activities prohibited by Executive Order (E.O.) 
14046 that are ordinarily incident and necessary to the wind down of 
transactions involving Hidri Trust or Red Sea Trading Corporation 
are authorized through 12:01 a.m. eastern standard time, December 
14, 2021.
    Note to paragraph (a): OFAC's 50 Percent Rule does not apply to 
persons blocked solely pursuant to the blocking sanctions in section 
2(a)(i)(A) of E.O. 14046.
    (b) This general license does not authorize:
    (1) Any debit to an account on the books of a U.S. financial 
institution of any blocked person under E.O. 14046; or
    (2) Any transactions or activities otherwise prohibited by E.O. 
14046, or prohibited by any part of 31 CFR chapter V, statute, or 
other E.O., or involving any blocked person other than the blocked 
persons identified in paragraph (a) of this general license.

Bradley T. Smith,

Acting Director, Office of Foreign Assets Control.

Dated: November 12, 2021.

Bradley T. Smith,
Director, Office of Foreign Assets Control.
[FR Doc. 2023-20160 Filed 9-18-23; 8:45 am]
BILLING CODE 4810-AL-P


</pre></body>
</html>

View on FederalRegister.gov →Plain-text source

Indexed from Federal Register on September 19, 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.