[Federal Register Volume 79, Number 172 (Friday, September 5, 2014)]
[Notices]
[Pages 53110-53111]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-21217]


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DEPARTMENT OF THE TREASURY

Office of Foreign Assets Control


OFAC Implementation of Certain Sanctions Imposed on JAM 
PETROCHEMICAL COMPANY and NIKSIMA FOOD AND BEVERAGE JLT Pursuant to 
Executive Order 13622 of July 30, 2012

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 to implement 
certain of the sanctions imposed on two entities by the Secretary of 
State pursuant to Executive Order 13622 of July 30, 2012, ``Authorizing 
Additional Sanctions With Respect to Iran.''

DATES: OFAC's actions described in this notice to implement the 
sanctions on JAM PETROCHEMICAL COMPANY and NIKSIMA FOOD AND BEVERAGE 
JLT were effective May 31, 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

    On July 30, 2012, the President issued Executive Order 13622, 
``Authorizing Additional Sanctions With Respect to Iran'' (``E.O. 
13622''), under the authority of, inter alia, the International 
Emergency Economic Powers Act (50 U.S.C. 1601 et seq.). Section 
2(a)(ii) of E.O. 13622 authorizes the Secretary of State to impose 
sanctions on a person he determines has knowingly engaged, on or after 
the effective date of E.O. 13622, in a significant transaction for the 
purchase or acquisition of petrochemical products from Iran.\1\ Section 
4 of E.O. 13622 requires the Secretary of the Treasury to implement 
certain of the sanctions imposed by the Secretary of State pursuant to 
section 2 of E.O. 13622.
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    \1\ Section 16 of Executive Order 13645 of June 3, 2013, 
``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'') amended 
section 2 of E.O. 13622 to clarify that the scope of sanctionable 
activity included significant transactions for the ``sale, 
transport, or marketing'' of petroleum, petroleum products, and 
petrochemicals. The Secretary of State's action with respect to the 
persons identified in this notice was undertaken prior to the 
issuance of E.O. 13645.
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    The Secretary of the Treasury is responsible for implementing the 
following sanctions set forth in section 4 of E.O. 13622 and imposed by 
the Secretary of State pursuant to section 2 of E.O. 13622: (i) With 
respect to section 4(a)(i) of E.O. 13622, to prohibit any U.S. 
financial institution from making loans or providing credits to a 
person sanctioned under section 2 of E.O. 13622; (ii) with respect to 
section 4(a)(ii) of E.O. 13622, to prohibit any transactions in foreign 
exchange that are subject to the jurisdiction of the United States and 
in which a person sanctioned under section 2 of E.O. 13622 has any 
interest; (iii) with respect to section 4(a)(iii) of E.O. 13622, 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 section 2 of E.O. 13622; (iv) with respect to section 4(a)(iv) of 
E.O. 13622, 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 section 2 of 
E.O. 13622, and to provide that such property and interests in property 
may not be transferred, paid, exported, withdrawn, or otherwise dealt 
in; and (v) with respect to section 4(a)(v) of E.O. 13622, to restrict 
or prohibit imports of goods, technology, or services, directly or 
indirectly, into the United States from a person sanctioned under 
section 2 of E.O. 13622.

[[Page 53111]]

    The Secretary of State has imposed sanctions on two entities 
pursuant to section 2 of E.O 13622. See 78 FR 35351 (June 12, 2013), 
which provides the names of the two entities subject to sanctions, as 
well as a complete list of the sanctions imposed on each entity. 
Accordingly, the Director of OFAC, acting pursuant to delegated 
authority, has taken the actions described below to implement certain 
sanctions imposed by the Secretary of State pursuant to section 2 of 
Executive Order 13622 with respect to the following persons:

1. JAM PETROCHEMICAL COMPANY, Pars Special Economic Zone, Assaluyeh, 
Boushehr Province, Iran [EO13622].
2. NIKSIMA FOOD AND BEVERAGE JLT, Dubai, United Arab Emirates 
[EO13622].

    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 two 
entities 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 two entities listed above; and (c) prohibited any 
transactions in foreign exchange that are subject to the jurisdiction 
of the United States and involve any interest of the two entities 
listed above. Both entities have been added to OFAC's List of Specially 
Designated Nationals and Blocked Persons with the identifying tag 
``EO13622.''

    Dated: August 8, 2014.
Barbara C. Hammerle,
Acting Director, Office of Foreign Assets Control.
[FR Doc. 2014-21217 Filed 9-4-14; 8:45 am]
BILLING CODE 4810-AL-P