OFAC Implementation of Certain Sanctions Imposed on KISH PROTECTION & INDEMNITY and CENTRAL INSURANCE OF IRAN by the Secretary of State Pursuant to the Iran Threat Reduction and Syria Human Rights Act of 2012
Notice published September 5, 2014 · 79 FR 53105
- Document number
- FR Doc. 2014-21218
- Type
- Notice
- Published
- September 5, 2014
- Citation
- 79 FR 53105 (pages 53,105–53,106)
- Action
- Notice.
- Effective
- March 14, 2013
- Dates
- OFAC's actions described in this notice to implement the sanctions on KISH PROTECTION & INDEMNITY and CENTRAL INSURANCE OF IRAN were effective March 14, 2013.
- Official sources
- PDF (govinfo.gov) · federalregister.gov
Summary
The Federal Register's summaryThe Treasury Department's Office of Foreign Assets Control ("OFAC") is providing notice of actions taken by OFAC to implement certain of the sanctions imposed on KISH PROTECTION & INDEMNITY and CENTRAL INSURANCE OF IRAN by the Secretary of State pursuant to the Iran Threat Reduction and Syria Human Rights Act of 2012 (Pub. L. 112- 158) (22 U.S.C. 8701-8795).
Executive orders cited
- Executive Order 13628 · Other documents citing it
Text
As the Government Publishing Office publishes it. Pages OFAC printed as images (in recent notices, the lists of names) are in the official PDF.
[Federal Register Volume 79, Number 172 (Friday, September 5, 2014)]
[Notices]
[Pages 53105-53106]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-21218]
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DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
OFAC Implementation of Certain Sanctions Imposed on KISH
PROTECTION & INDEMNITY and CENTRAL INSURANCE OF IRAN by the Secretary
of State Pursuant to the Iran Threat Reduction and Syria Human Rights
Act of 2012
AGENCY: Office of Foreign Assets Control, Treasury.
ACTION: Notice.
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SUMMARY: The Treasury Department's Office of Foreign Assets Control
(``OFAC'') is providing notice of actions taken by OFAC to implement
certain of the sanctions imposed on KISH PROTECTION & INDEMNITY and
CENTRAL INSURANCE OF IRAN by the Secretary of State pursuant to the
Iran Threat Reduction and Syria Human Rights Act of 2012 (Pub. L. 112-
158) (22 U.S.C. 8701-8795).
DATES: OFAC's actions described in this notice to implement the
sanctions on KISH PROTECTION & INDEMNITY and CENTRAL INSURANCE OF IRAN
were effective March 14, 2013.
FOR FURTHER INFORMATION CONTACT: Assistant Director for Sanctions
Compliance and Evaluation, Office of Foreign Assets Control, Department
of the Treasury, Washington, DC 20220, tel.: 202-622-2490.
SUPPLEMENTARY INFORMATION:
Electronic and Facsimile Availability
This document and additional information concerning OFAC are
available from OFAC's Web site (www.treasury.gov/ofac) or via facsimile
through a 24-hour fax-on demand service tel.: (202) 622-0077.
Background
Section 212 of the Iran Threat Reduction and Syria Human Rights Act
of 2012 (Pub. L. 112-158) (22 U.S.C. 8701-8795) (``TRA'') requires the
Secretary of State, pursuant to authority delegated by the President,
to impose or waive sanctions on persons determined to have knowingly
provided, on or after the date of enactment of the TRA, underwriting
services or insurance or reinsurance services for the National Iranian
Oil Company, the National Iranian Tanker Company, or a successor entity
to either such company. When the Secretary of State imposes sanctions
pursuant to section 212 of the TRA, he is required to select five or
more of the sanctions described in section 6(a) of the Iran Sanctions
Act of 1996 (Pub. L. 104-172) (50 U.S.C. 1701 note), as amended
(``ISA''). Executive Order 13628 of October 9, 2012, ``Authorizing the
Implementation of Certain Sanctions Set Forth in the Iran Threat
Reduction and Syria Human Rights Act of 2012 and Additional Sanctions
With Respect to Iran'' (``E.O. 13628''), requires the Secretary of the
Treasury, pursuant to authority under the International Emergency
Economic Powers Act (50 U.S.C. 1701-1706), to implement certain
sanctions set forth in section 6 of ISA, when those sanctions are
selected and imposed by the Secretary of State pursuant to the TRA.
The Secretary of the Treasury is responsible for implementing the
following sanctions described in section 6(a) of ISA and imposed by the
Secretary of State pursuant to section 212 of the TRA: (i) With respect
to section 6(a)(3) of ISA, to prohibit any U.S. financial institution
from making loans or providing credits to a person sanctioned under
section 212 of the TRA, consistent with section 6(a)(3) of ISA; (ii)
with respect to section 6(a)(6) of ISA, to prohibit any transactions in
foreign exchange that are subject to the jurisdiction of the United
States and in which a person sanctioned under section 212 of the TRA
has any interest; (iii) with respect to section 6(a)(7) of ISA, to
prohibit any transfers of credit or payments between financial
institutions or by, through, or to any financial institution, to the
extent that such transfers or payments are subject to the jurisdiction
of the United States and involved any interest of a person sanctioned
under section 212 of the TRA; (iv) with respect to section 6(a)(8) of
ISA, to block 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 United States person, including
any foreign branch, of a person sanctioned under section 212 of the
TRA, and to provide that such property and interests in property may
not be transferred, paid, exported, withdrawn, or otherwise dealt in;
(v) with respect to section 6(a)(9) of ISA, to prohibit any United
States person from investing in or purchasing significant amounts of
equity or debt instruments of a person sanctioned under section 212 of
the TRA; (vi) with respect to section 6(a)(11) of ISA, to impose on the
principal executive officer or officers, or persons performing similar
functions and with similar authorities, of a person sanctioned under
section 212 of the TRA the sanctions described in paragraphs (i)
through (v) above and (vii) below, as selected by the Secretary of
State; and (vii) with respect to section 6(a)(12) of ISA, to restrict
or prohibit imports of goods, technology, or services, directly or
indirectly, into the United States from a person sanctioned under
section 212 of the TRA.
The Secretary of State has imposed sanctions on two persons
pursuant to section 212 of the TRA. See 78 FR 21183 (April 9, 2013),
which provides the names of the two persons subject to sanctions, as
well as a complete list of the sanctions imposed on each person.
Accordingly, the Director of OFAC, acting pursuant to delegated
authority, has taken the actions described below to implement those
sanctions set forth in section 1 of E.O. 13628 and imposed by the
Secretary of State pursuant to section 212 of the TRA with respect to
the following persons:
1. KISH PROTECTION & INDEMNITY (a.k.a. KISH MUTUAL PROTECTION &
INDEMNITY; a.k.a. KISH P&I), Flt No. 9, No. 78, Vaali Nejad Alley,
Africa Blvd., Tehran, Iran [IRAN-TRA]
2. CENTRAL INSURANCE OF IRAN (a.k.a. BIMEH MARKAZI; a.k.a. BIMEH
MARKAZI IRAN; a.k.a. CENTRAL INSURANCE OF IR IRAN; a.k.a. CENTRAL
INSURANCE OF THE ISLAMIC REPUBLIC OF IRAN), No. 223 N. East St.,
Africa Ave., Tehran, Iran [IRAN-TRA]
The Director of OFAC has: (a) Blocked 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
United States person, including any overseas branch, of the two
entities
[[Page 53106]]
listed above; and (b) prohibited any transfers of credit or payments
between financial institutions or by, through, or to any financial
institution, to the extent that such transfers or payments are subject
to the jurisdiction of the United States and involve any interest of
the two entities listed above. Both entities have been added to OFAC's
List of Specially Designated Nationals and Blocked Persons with the
identifying tag ``IRAN-TRA.''
Dated: August 8, 2014.
Barbara C. Hammerle,
Acting Director, Office of Foreign Assets Control.
[FR Doc. 2014-21218 Filed 9-4-14; 8:45 am]
BILLING CODE 4810-AL-P