[Federal Register Volume 85, Number 47 (Tuesday, March 10, 2020)]
[Rules and Regulations]
[Pages 13746-13747]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-04851]


=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY

Office of Foreign Assets Control

31 CFR Part 595


Removal of Terrorism Sanctions Regulations

AGENCY: Office of Foreign Assets Control, Treasury.

ACTION: Final rule.

-----------------------------------------------------------------------

SUMMARY: The Department of the Treasury's Office of Foreign Assets 
Control (OFAC) is removing from the Code of Federal Regulations the 
Terrorism Sanctions Regulations as a result of the termination of the 
national emergency on which the regulations were based.

DATES: Effective Date: March 10, 2020.

FOR FURTHER INFORMATION CONTACT: OFAC: Assistant Director for 
Licensing, 202-622-2480; Assistant Director for Regulatory Affairs, 
202-622-4855; or Assistant Director for Sanctions Compliance & 
Evaluation, 202-622-2490.

SUPPLEMENTARY INFORMATION: 

Electronic Availability

    This document and additional information concerning OFAC are 
available on OFAC's website (www.treasury.gov/ofac).

Background

    On January 23, 1995, the President issued Executive Order 12947, 
``Prohibiting Transactions With Terrorists Who Threaten To Disrupt the 
Middle East Peace Process'' (E.O. 12947), declaring a national 
emergency with respect to ``grave acts of violence committed by foreign 
terrorists that disrupt the Middle East peace process,'' and invoking 
the authority, inter alia, of the International Emergency Economic 
Powers Act (50 U.S.C. 1701-1706). In E.O. 12947, the President blocked 
all property and interests in property of (1) persons listed in the 
Annex to E.O. 12947; (2) foreign persons designated by the Secretary of 
State, in coordination with the Secretary of the Treasury and the 
Attorney General, because they are found (a) to have committed, or to 
pose a significant risk of committing, acts of violence that have the 
purpose or effect of disrupting the Middle East peace process, or (b) 
to assist in, sponsor, or provide financial, material, or technological 
support for, or services in support of, such acts of violence; and (3) 
persons determined by the Secretary of the Treasury, in coordination 
with the Secretary of State and the Attorney General, to be owned or 
controlled by, or to act for or on behalf of, any of the foregoing 
persons.
    On February 2, 1996, OFAC issued the Terrorism Sanctions 
Regulations, 31 CFR part 595 (the ``Regulations''), as a final rule to 
implement E.O. 12947. The Regulations were amended on several 
occasions.
    On August 20, 1998, the President issued Executive Order 13099, 
``Prohibiting Transactions With Terrorists Who Threaten To Disrupt the 
Middle East Peace Process'' (E.O. 13099), amending the Annex to E.O. 
12947 in order to take additional steps with respect to the national 
emergency declared in E.O. 12947. On February 16, 2005, the President 
issued Executive Order 13372, ``Clarification of Certain Executive 
Orders Blocking Property and Prohibiting Certain Transactions,'' 
further amending E.O. 12947 in order to clarify steps taken in E.O. 
12947 as amended by E.O. 13099.
    On September 9, 2019, the President issued Executive Order 13886, 
``Modernizing Sanctions To Combat Terrorism'' (E.O. 13886). In E.O. 
13886, the President found that it was necessary to consolidate and 
enhance sanctions to combat acts of terrorism and threats of terrorism 
by foreign terrorists. Accordingly, he terminated the national 
emergency declared in E.O. 12947, as amended, and revoked that order.
    As a result, OFAC is removing the Regulations from the Code of 
Federal Regulations. Pursuant to section 202 of the National 
Emergencies Act (50 U.S.C. 1622), termination of the national emergency 
declared in E.O. 12947, as amended, shall not affect any action taken 
or proceeding pending and not finally concluded or determined as of 
12:01 a.m. eastern daylight time on September 10, 2019 (the effective 
date of E.O. 13886), any action or proceeding based on any act 
committed prior to the effective date, or any rights or duties that 
matured or penalties that were incurred prior to the effective date.

Public Participation

    Because the Regulations 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, as well as the 
provisions of Executive Order 13771, 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.

Paperwork Reduction Act

    The Paperwork Reduction Act does not apply because this rule does 
not impose information collection requirements that would require the 
approval of the Office of Management and Budget under 44 U.S.C. 3501 et 
seq.

List of Subjects in 31 CFR Part 595

    Administrative practice and procedure, Banks, Banking and finance, 
Blocking of assets, Fines and penalties, Reporting and recordkeeping 
requirements, Specially designated terrorists, Terrorism, Transfer of 
assets.

PART 595--[REMOVED]

0
For the reasons set forth in the preamble, and under the authority of 3 
U.S.C. 301; 31 U.S.C. 321(b); 50 U.S.C. 1601-1651, 1701-1706; Public 
Law 101-410, 104 Stat. 890 (28 U.S.C. 2461 note); Public Law 110-96, 
121 Stat.1011; E.O. 12947, 60 FR 5079, 3 CFR, 1995 Comp., p. 319; E.O. 
13099, 63 FR 45167, 3 CFR, 1998 Comp., p. 208; E.O. 13372, 70 FR 8499, 
3 CFR, 2006 Comp., p. 159; and E.O. 13886, 84 FR 48041 (September 12, 
2019), OFAC

[[Page 13747]]

amends 31 CFR chapter V by removing part 595.

    Dated: March 5, 2020.
Andrea Gacki,
Director, Office of Foreign Assets Control.
[FR Doc. 2020-04851 Filed 3-9-20; 8:45 am]
 BILLING CODE 4810-AL-P