[Federal Register Volume 61, Number 203 (Friday, October 18, 1996)]
[Rules and Regulations]
[Page 54334]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-26810]


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DEPARTMENT OF THE TREASURY

Office of Foreign Assets Control

31 CFR Chapter V


Blocked Persons, Specially Designated Nationals, Specially 
Designated Terrorists, Specially Designated Narcotics Traffickers, and 
Blocked Vessels; Removal of Entry

AGENCY: Office of Foreign Assets Control, Treasury.

ACTION: Amendment of final rule.

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SUMMARY: The Office of Foreign Assets Control is removing from appendix 
C to 31 CFR chapter V an entry for a vessel no longer deemed to be 
blocked under economic sanctions imposed against the Federal Republic 
of Yugoslavia (Serbia & Montenegro).

EFFECTIVE DATE: October 18, 1996.

FOR FURTHER INFORMATION CONTACT: Office of Foreign Assets Control, 
Department of the Treasury, Washington, DC 20220, tel.: 202/622-2520.

SUPPLEMENTARY INFORMATION:

Electronic Availability

     This document is available as an electronic file on The Federal 
Bulletin Board the day of publication in the Federal Register. By 
modem, dial 202/512-1387 and type ``GO FAC,'' or call 202/512-1530 for 
disk or paper copies. This file is available for downloading without 
charge in WordPerfect 5.1, ASCII, and Adobe AcrobatTM readable 
(*.PDF) formats. For Internet access, the address for use with the 
World Wide Web (Home Page), Telnet, or FTP protocol is: 
fedbbs.access.gpo.gov. The document is also accessible for downloading 
in ASCII format without charge from Treasury's Electronic Library 
(``TEL'') in the ``Business, Trade and Labor Mall'' of the FedWorld 
bulletin board. By modem, dial 703/321-3339, and select the appropriate 
self-expanding file in TEL. For Internet access, use one of the 
following protocols: Telnet = fedworld.gov (192.239.93.3); World Wide 
Web (Home Page) = http://www.fedworld.gov; FTP = ftp.fedworld.gov 
(192.239.92.205). Additional information concerning the programs of the 
Office of Foreign Assets Control is available for downloading from the 
Office's Internet Home Page: http://www.ustreas.gov/treasury/services/
fac/fac.html, or in fax form through the Office's 24-hour fax-on-demand 
service: call 202/622-0077 using a fax machine, fax modem, or touch 
tone telephone.

Background

    Appendix C to 31 CFR chapter V contains the names of vessels 
blocked pursuant to the various economic sanctions programs 
administered by the Office of Foreign Assets Control (``OFAC'') (61 FR 
32936, June 26, 1996). The M/V RAMA (formerly known as the ``KUPRES'') 
was designated as a vessel that was the property of undertakings or 
entities organized or located in the Federal Republic of Yugoslavia 
(Serbia & Montenegro) (the ``FRY (S&M)''), or of entities owned or 
controlled by such undertakings or entities. As such, all transactions 
by U.S. persons with respect to the M/V RAMA were blocked pursuant to 
Sec. 585.201(b) of the Federal Republic of Yugoslavia (Serbia & 
Montenegro) and the Bosnian Serb-Controlled Areas of the Republic of 
Bosnia and Herzegovina Sanctions Regulations, 31 CFR part 585 (the 
``Regulations''). Sanctions against the FRY (S&M) were suspended on 
January 16, 1996, and all transactions by U.S. persons with respect to 
the M/V RAMA and other FRY (S&M) vessels outside U.S. jurisdiction on 
this date were authorized. This rule is being issued to remove the 
entry ``RAMA'' from appendix C, because OFAC has determined that this 
vessel was sold in a judicial sale in Panama and is no longer the 
property of undertakings or entities organized or located in the FRY 
(S&M), or of entities owned or controlled by such undertakings or 
entities. Accordingly, transactions with regard to this vessel are not 
subject to the suspended prohibitions in Sec. 585.201(b) of the 
Regulations.
    Since the Regulations and this amendment to appendix C to 31 CFR 
chapter V involve a foreign affairs function, the provisions of 
Executive Order 12866 and the Administrative Procedure Act (5 U.S.C. 
553), requiring notice of proposed rulemaking, opportunity for public 
participation, and delay in effective date, are inapplicable. Because 
no notice of proposed rulemaking is required for this rule, the 
Regulatory Flexibility Act (5 U.S.C. 601-612) does not apply.
    For the reasons set forth in the preamble, and under the authority 
of 3 U.S.C. 301; 22 U.S.C. 287c; 49 U.S.C. App. 1514; 50 U.S.C. 1601-
1651; 50 U.S.C. 1701-1706; E.O. 12808, 57 FR 23299, 3 CFR, 1992 Comp., 
p. 305; E.O. 12810, 57 FR 24347, 3 CFR, 1992 Comp., p. 307; E.O. 12831, 
58 FR 5253, 3 CFR, 1993 Comp., p. 576; E.O. 12846, 58 FR 25771, 3 CFR, 
1993 Comp., p. 599; and E.O. 12934, 59 FR 54117, 3 CFR, 1994 Comp., p. 
930, appendix C to 31 CFR chapter V is amended as set forth below:
    Appendix C to chapter V of 31 CFR is amended by removing the entry 
for the vessel ``RAMA''.

    Dated: September 18, 1996.
R. Richard Newcomb,
Director, Office of Foreign Assets Control.
    Approved: September 24, 1996.
James E. Johnson,
Assistant Secretary (Enforcement).
[FR Doc. 96-26810 Filed 10-17-96; 8:45 am]
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