[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
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(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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