OFAC Implementation of Certain Sanctions Imposed on Ferland Company Limited by the Secretary of State Pursuant to the Iran Sanctions Act of 1996, as Amended; Actions Taken With Respect to Ferland Company Limited Pursuant to Executive Order 13608 and Executive Order 13645

Notice published September 5, 2014 · 79 FR 53109

Document number: FR Doc. 2014-21220
Type: Notice
Published: September 5, 2014
Citation: 79 FR 53109 (pages 53,109–53,110)
Action: Notice.
Effective: May 31, 2013
Dates: OFAC's actions described in this notice to implement certain ISA sanctions and impose sanctions pursuant to E.O. 13608 on Ferland Company Limited were effective May 31, 2013. OFAC's actions pursuant to Executive Order 13645 described in this notice were effective December 12, 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 with respect to Ferland Company Limited to (i) implement certain of the sanctions imposed by the Secretary of State pursuant to the Iran Sanctions Act of 1996 (Pub. L. 104-172) (50 U.S.C. 1701 note), as amended ("ISA"); (ii) impose sanctions pursuant to Executive Order 13608 of May 1, 2012, "Prohibiting Certain Transactions With and Suspending Entry Into the United States of Foreign Sanctions Evaders With Respect to Iran and Syria" ("E.O. 13608"); and (iii) block property and interests in property in which Ferland Company Limited has an interest pursuant to Executive Order 13645 of June 3, 2013 "Authorizing the Implementation of Certain Sanction set forth in the Iran Freedom and Counter- Proliferation Act of 2012 and Additional Sanctions with Respect to Iran" ("E.O. 13645").

Executive orders cited

Executive Order 13608 · Other documents citing it
Executive Order 13628 · Other documents citing it
Executive Order 13645 · 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 53109-53110]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-21220]



[[Page 53109]]

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DEPARTMENT OF THE TREASURY

Office of Foreign Assets Control


OFAC Implementation of Certain Sanctions Imposed on Ferland
Company Limited by the Secretary of State Pursuant to the Iran
Sanctions Act of 1996, as Amended; Actions Taken With Respect to
Ferland Company Limited Pursuant to Executive Order 13608 and Executive
Order 13645

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 with respect to
Ferland Company Limited to (i) implement certain of the sanctions
imposed by the Secretary of State pursuant to the Iran Sanctions Act of
1996 (Pub. L. 104-172) (50 U.S.C. 1701 note), as amended (``ISA'');
(ii) impose sanctions pursuant to Executive Order 13608 of May 1, 2012,
``Prohibiting Certain Transactions With and Suspending Entry Into the
United States of Foreign Sanctions Evaders With Respect to Iran and
Syria'' (``E.O. 13608''); and (iii) block property and interests in
property in which Ferland Company Limited has an interest pursuant to
Executive Order 13645 of June 3, 2013 ``Authorizing the Implementation
of Certain Sanction set forth in the Iran Freedom and Counter-
Proliferation Act of 2012 and Additional Sanctions with Respect to
Iran'' (``E.O. 13645'').

DATES: OFAC's actions described in this notice to implement certain ISA
sanctions and impose sanctions pursuant to E.O. 13608 on Ferland
Company Limited were effective May 31, 2013. OFAC's actions pursuant to
Executive Order 13645 described in this notice were effective December
12, 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

    The Iran Sanctions Act of 1996 (Pub. L. 104-172) (50 U.S.C. 1701
note), as amended (``ISA''), requires the Secretary of State, pursuant
to authority delegated by the President, to impose or waive sanctions
on persons determined to have engaged in certain investment or other
activity in connection with Iran's petroleum or petrochemical sectors.
Specifically, section 5(a)(8) of ISA requires the imposition of
sanctions on certain persons that conceal the Iranian origin of crude
oil and refined petroleum products. 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 ISA.
    The Secretary of the Treasury is responsible for implementing the
following sanctions described in section 6(a) of ISA: (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
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 ISA 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 ISA; (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 ISA, 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 ISA; (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 ISA the sanctions described in (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 ISA.
    The Secretary of State has imposed sanctions on the person listed
below pursuant to section 5(a)(8) of ISA. See 78 FR 35351 (June 12,
2013), which provides the name of the entity subject to sanctions, as
well as a complete list of the sanctions imposed. Accordingly, the
Director of OFAC, acting pursuant to delegated authority, has taken
action under E. O. 13628 to implement with respect to the entity listed
below certain sanctions imposed by the Secretary of State pursuant to
the following subsections of ISA: 6(a)(3), (6), (7), and (8).
    On May 1, 2012, the President issued Executive Order 13608,
``Prohibiting Certain Transactions With and Suspending Entry Into the
United States of Foreign Sanctions Evaders With Respect to Iran and
Syria'' (``E.O. 13608''). Section 1(a)(ii) of E.O. 13608 authorizes the
Secretary of the Treasury, in consultation with the Secretary of State,
to impose on a foreign person certain measures upon determining that
the foreign person has, inter alia, ``facilitated deceptive
transactions for or on behalf of any person subject to United States
sanctions concerning Iran or Syria.''
    Section 7(d) of E.O. 13608 defines the term ``deceptive
transaction'' to mean ``any transaction where the identity of any
person subject to United States sanctions concerning Iran or Syria is
withheld or obscured from other participants in the transaction or any
relevant regulatory authorities.''
    Section 1(b) of E.O. 13608 authorizes the Secretary of the Treasury
to prohibit all transactions or dealings involving such persons
sanctioned under E.O. 13608 in or related to any goods, services, or
technology (i) in or intended for the United States, or (ii) provided
by or to United States persons, wherever located. These prohibitions
cover the aforementioned transactions or dealings, but do not require
the blocking of property or interests in property of the person
sanctioned pursuant to E.O. 13608.
    On May 31, 2013, the Director of OFAC, acting pursuant to delegated
authority, imposed sanctions on the entity listed below and prohibited
all

[[Page 53110]]

transactions or dealings involving that entity, as described in Section
1(b) of E.O. 13608.
    On June 3, 2013, the President issued Executive Order 13645
(``Authorizing the Implementation of Certain Sanctions Set Forth in the
Iran Freedom and Counter-Proliferation Act of 2012 and Additional
Sanctions With Respect to Iran'') (``E.O. 13645''). Section 2 of E.O.
13645 blocks, with certain exceptions, all property and interests in
property that are in the United States, that hereafter come within the
United States, or that are or hereafter come within the possession or
control of any United States person, including any foreign branch, of
persons determined by the Secretary of the Treasury, in consultation
with the Secretary of State, to satisfy any of the criteria set forth
in subsection (a)(i) or (a)(ii) of section 2.
    On December 12, 2013, the Director of OFAC, acting pursuant to
delegated authority, designated the entity listed below \1\ as a person
whose property and interests in property are blocked pursuant to
section 2 of E.O. 13645.
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    \1\ In addition, on December 12, 2013, the Director of OFAC
designated individual VITALY SOKOLENKO and entities MID OIL ASIA
PTE. LTD., SINGA TANKERS PTE. LTD., and SIQIRIYA MARITIME CORP.
pursuant to section 2 of E.O. 13645. Separate notices detailing
OFAC's actions with respect to this individual and these entities
are being published in today's Federal Register.
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Entity

1. FERLAND COMPANY LIMITED (a.k.a. FERLAND CO. LTD), 29 A Anna
Komnini St., PO Box 2303, Nicosia, Cyprus; 5/7 Sabaneyev Most.,
Odessa, Ukraine [EO13645] [ISA] [FSE-IR].

    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 entity
listed above; (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 entity listed above; (c) prohibited U.S. financial institutions
from making loans or providing credits totaling more than $10,000,000
over a 12-month period to the entity listed above; (d) prohibited any
transactions in foreign exchange that are subject to the jurisdiction
of the United States and which involve any interest of the entity
listed above; and (e) prohibited all transactions or dealings involving
the entity listed above in or related to any goods, services, or
technology (i) in or intended for the United States, or (ii) provided
by or to United States persons, wherever located. Ferland Company
Limited has been added to both OFAC's List of Specially Designated
Nationals and Blocked Persons and OFAC's List of Foreign Sanctions
Evaders with the identifying tags ``EO13645'', ``ISA'', and ``FSE-IR.''

    Dated: July 18, 2014.
Barbara C. Hammerle,
Acting Director, Office of Foreign Assets Control.
[FR Doc. 2014-21220 Filed 9-4-14; 8:45 am]
BILLING CODE 4810-AL-P

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