Publication of an Iran-Related Determination

Rule published November 19, 2024 · 89 FR 91262

Document number: FR Doc. 2024-26800
Type: Rule
Published: November 19, 2024
Citation: 89 FR 91262 (pages 91,262–91,263)
Action: Publication of a determination.
Dates: The determination was issued on October 11, 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 a sector determination pursuant to a January 10, 2020 Executive Order. The determination was previously issued on OFAC's website.

Regulations cited

31 CFR part 562 (today: Iranian Sector and Human Rights Abuses Sanctions Regulations) · Other documents citing it · eCFR as of November 19, 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 12957 · Other documents citing it
Executive Order 13902 · Other documents citing it · OFAC program tags: IRAN-EO13902

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 223 (Tuesday, November 19, 2024)]
[Rules and Regulations]
[Pages 91262-91263]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-26800]


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DEPARTMENT OF THE TREASURY

Office of Foreign Assets Control

31 CFR Part 562


Publication of an Iran-Related Determination

AGENCY: Office of Foreign Assets Control, Treasury.

ACTION: Publication of a determination.

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SUMMARY: The Department of the Treasury's Office of Foreign Assets
Control (OFAC) is publishing a sector determination pursuant to a
January 10, 2020 Executive Order. The determination was previously
issued on OFAC's website.

DATES: The determination was issued on October 11, 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 or
https://ofac.treasury.gov/contact-ofac.

SUPPLEMENTARY INFORMATION:

Electronic Availability

    This document and additional information concerning OFAC are
available on OFAC's website: https://ofac.treasury.gov/.

Background

    On January 10, 2020, the President, invoking the authority of,
inter alia, the International Emergency Economic Powers Act (50 U.S.C.
1701 et seq.) (IEEPA), issued Executive Order (E.O.) 13902 of January
10, 2020, ``Imposing Sanctions With Respect to Additional Sectors of
Iran'' (85 FR 2003, January 14, 2020). Among other prohibitions,
section 1(a)(i) of E.O. 13902 blocks, with certain exceptions, 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 U.S. person of, any person determined by
the Secretary of the Treasury, in consultation with the Secretary of
State to operate in the construction, mining, manufacturing, or
textiles sectors of the Iranian economy, or any other sector of the
Iranian economy as may be determined by the Secretary of the Treasury,
in consultation with the Secretary of State.
    On October 11, 2024, the Secretary of the Treasury, in consultation
with the Department of State, determined that section 1(a)(i) of E.O.
13902 shall apply to the petroleum and petrochemical sectors of the
Iranian economy. This determination took effect on October 11, 2024.
    The determination was made available on OFAC's website (https://ofac.treasury.gov/) when it was issued. The text of the determination
is provided below.

Determination Pursuant to Section 1(a)(i) of Executive Order 13902

Petroleum and Petrochemical Sectors of the Iranian Economy

    Section 1(a)(i) of Executive Order (E.O.) 13902 of January 10,
2020 (``Imposing Sanctions With Respect to Additional Sectors of
Iran'') imposes economic sanctions on any person determined by the
Secretary of the Treasury, in consultation with the Secretary of
State, to operate in such sectors of the Iranian economy as may be
determined by

[[Page 91263]]

the Secretary of the Treasury, in consultation with the Secretary of
State.
    To further address the unusual and extraordinary threat to the
national security, foreign policy, and economy of the United States
described in E.O. 12957 of March 15, 1995 (``Prohibiting Certain
Transactions With Respect to the Development of Iranian Petroleum
Resources'') and E.O. 13902, and in consultation with the Department
of State, I hereby determine that section 1(a)(i) of E.O. 13902
shall apply to the petroleum and petrochemical sectors of the
Iranian economy. Any person determined to operate in these sectors
shall be subject to sanctions pursuant to section 1(a)(i).
    This determination shall take effect on October 11, 2024.

Janet L. Yellen,

Secretary, U.S. Department of the Treasury.

Lisa M. Palluconi,
Acting Director, Office of Foreign Assets Control.
[FR Doc. 2024-26800 Filed 11-18-24; 8:45 am]
BILLING CODE 4810-AL-P

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