Publication of Russia Harmful Activities Sanctions Regulations Web General Licenses 99A, 100A, and 102
Rule published September 6, 2024 · 89 FR 72719
- Document number
- FR Doc. 2024-19913
- Type
- Rule
- Published
- September 6, 2024
- Citation
- 89 FR 72719 (pages 72,719–72,721)
- Action
- Publication of web general licenses.
- Dates
- GLs 99A and 100A were issued on August 2, 2024. See SUPPLEMENTARY INFORMATION for additional relevant dates.
- Official sources
- PDF (govinfo.gov) · federalregister.gov
Summary
The Federal Register's summaryThe Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing three general licenses (GLs) issued pursuant to the Russian Harmful Foreign Activities Sanctions Regulations: GLs 99A, 100A, and 102, each of which was previously made available on OFAC's website.
Regulations cited
- 31 CFR part 587 (today: Russian Harmful Foreign Activities Sanctions Regulations) · Other documents citing it · eCFR as of September 6, 2024
OFAC has reused some part numbers, so today's heading can name a different regulation from the one this document concerned.
Executive orders cited
- Executive Order 14024 · Other documents citing it · OFAC program tags: RUSSIA-EO14024
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 89, Number 173 (Friday, September 6, 2024)]
[Rules and Regulations]
[Pages 72719-72721]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-19913]
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DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
31 CFR Part 587
Publication of Russia Harmful Activities Sanctions Regulations
Web General Licenses 99A, 100A, and 102
AGENCY: Office of Foreign Assets Control, Treasury.
[[Page 72720]]
ACTION: Publication of web general licenses.
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SUMMARY: The Department of the Treasury's Office of Foreign Assets
Control (OFAC) is publishing three general licenses (GLs) issued
pursuant to the Russian Harmful Foreign Activities Sanctions
Regulations: GLs 99A, 100A, and 102, each of which was previously made
available on OFAC's website.
DATES: GLs 99A and 100A were issued on August 2, 2024. 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: https://ofac.treasury.gov.
Background
On August 2, 2024, OFAC issued GLs 99A and 100A to authorize
certain transactions otherwise prohibited by the Russian Harmful
Foreign Activities Sanctions Regulations, 31 CFR part 587 (RuHSR).
These GLs supersede GLs 99 and 100, respectively, and have expiration
dates of October 12, 2024. On August 12, 2024, OFAC issued GL 102,
authorizing transactions otherwise prohibited by the RuHSR and expiring
November 12, 2024. Each GL was made available on OFAC's website
(https://ofac.treasury.gov) when it was issued. The text of these GLs
is provided below.
OFFICE OF FOREIGN ASSETS CONTROL
Russian Harmful Foreign Activities Sanctions Regulations
31 CFR Part 587
GENERAL LICENSE NO. 99A
Authorizing the Wind Down of Transactions and Certain Transactions
Related to Debt or Equity of, or Derivative Contracts Involving, MOEX,
NCC, or NSD
(a) Except as provided in paragraph (f) of this general license,
all transactions prohibited by Executive Order (E.O.) 14024 that are
ordinarily incident and necessary to the wind down of any
transaction involving one or more of the following blocked entities
are authorized through 12:01 a.m. eastern daylight time, October 12,
2024, provided that any payment to a blocked person is made into a
blocked account in accordance with the Russian Harmful Foreign
Activities Sanctions Regulations, 31 CFR part 587 (RuHSR):
(1) Moscow Exchange (MOEX);
(2) National Clearing Center (NCC);
(3) Non-Bank Credit Institution Joint Stock Company National
Settlement Depository (NSD); and
(4) 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.
(b) Except as provided in paragraphs (e) and (f) of this general
license, all transactions prohibited by E.O. 14024 that are
ordinarily incident and necessary to the divestment or transfer, or
the facilitation of the divestment or transfer, of debt or equity
issued or guaranteed by any of the blocked entities identified in
paragraph (a) (``Covered Debt or Equity'') to a non-U.S. person are
authorized through 12:01 a.m. eastern daylight time, October 12,
2024.
(c) Except as provided in paragraph (f) of this general license,
all transactions prohibited by E.O. 14024 that are ordinarily
incident and necessary to facilitating, clearing, and settling
trades of Covered Debt or Equity that were placed prior to 4:00 p.m.
eastern daylight time, June 12, 2024 are authorized through 12:01
a.m. eastern daylight time, October 12, 2024.
(d) Except as provided in paragraph (f) of this general license,
all transactions prohibited by E.O. 14024 that are ordinarily
incident and necessary to the wind down of derivative contracts
entered into prior to 4:00 p.m. eastern daylight time June 12, 2024
that (i) include a blocked person described in paragraph (a) of this
general license as a counterparty or (ii) are linked to Covered Debt
or Equity are authorized through 12:01 a.m. eastern daylight time,
October 12, 2024, provided that any payments to a blocked person are
made into a blocked account in accordance with the RuHSR.
(e) Paragraph (b) of this general license does not authorize:
(1) U.S. persons to sell, or to facilitate the sale of, Covered
Debt or Equity to, directly or indirectly, any person whose property
and interests in property are blocked; or
(2) U.S. persons to purchase or invest in, or to facilitate the
purchase of or investment in, directly or indirectly, Covered Debt
or Equity, other than purchases of or investments in Covered Debt or
Equity ordinarily incident and necessary to the divestment or
transfer of Covered Debt or Equity as described in paragraph (b) of
this general license.
(f) 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 persons described in paragraph (a) of
this general license, unless separately authorized.
(g) Effective August 2, 2024, General License No. 99, dated June
12, 2024, is replaced and superseded in its entirety by this General
License No. 99A.
Bradley T. Smith,
Director, Office of Foreign Assets Control.
Dated: August 2, 2024.
OFFICE OF FOREIGN ASSETS CONTROL
Russian Harmful Foreign Activities Sanctions Regulations
31 CFR Part 587
GENERAL LICENSE NO. 100A
Authorizing Certain Transactions Related to Debt or Equity or the
Conversion of Currencies Involving MOEX, NCC, or NSD
(a) Except as provided in paragraph (b) of this general license,
all transactions prohibited by Executive Order (E.O.) 14024 that are
ordinarily incident and necessary to the divestment of debt or
equity to a non-U.S. person, who is not a person whose property or
interests in property are blocked, or the conversion of currencies,
involving one or more of the following blocked entities that is
acting solely as a securities, trade, or settlement depository,
central counterparty or clearing house, or public trading market,
are authorized through 12:01 a.m. eastern daylight time, October 12,
2024:
(1) Moscow Exchange (MOEX);
(2) National Clearing Center (NCC);
(3) Non-Bank Credit Institution Joint Stock Company National
Settlement Depository (NSD); and
(4) 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.
(b) 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 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.
(c) Effective August 2, 2024, General License No. 100, dated
June 12, 2024, is replaced and superseded in its entirety by this
General License No. 100A.
Bradley T. Smith,
Director, Office of Foreign Assets Control.
Dated: August 2, 2024.
[[Page 72721]]
OFFICE OF FOREIGN ASSETS CONTROL
Russian Harmful Foreign Activities Sanctions Regulations
31 CFR Part 587
GENERAL LICENSE NO. 102
Authorizing Certain Transactions Involving VPower Finance Security
(Hong Kong) Limited
(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 transportation, delivery,
or storage of currency; cash processing services; or maintenance of
automated teller machines (ATMs) within Hong Kong involving VPower
Finance Security (Hong Kong) Limited (``VPower'') are authorized
through 12:01 a.m. eastern standard time, November 12, 2024.
(b) Except as provided in paragraph (c) of this general license,
all transactions prohibited by E.O. 14024 that are ordinarily
incident and necessary to the provision and staffing of customer
service centers for mass transit railway stations within Hong Kong
involving VPower are authorized through 12:01 a.m. eastern standard
time, November 12, 2024.
(c) This general license does not authorize:
(1) Any transactions related to the transportation, delivery, or
storage of gold;
(2) 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;
(3) 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
(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 person described in paragraph (a) of
this general license, unless separately authorized.
Lisa M. Palluconi,
Acting Director, Office of Foreign Assets Control.
Dated: August 12, 2024.
Lisa M. Palluconi,
Acting Director, Office of Foreign Assets Control.
[FR Doc. 2024-19913 Filed 9-5-24; 8:45 am]
BILLING CODE 4810-AL-P