[Federal Register Volume 87, Number 173 (Thursday, September 8, 2022)]
[Rules and Regulations]
[Pages 54890-54892]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-19312]


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DEPARTMENT OF THE TREASURY

Office of Foreign Assets Control

31 CFR Part 587


Publication of Russian Harmful Foreign Activities Sanctions 
Regulations Web General Licenses 8, 8A, 8B, and 8C

AGENCY: Office of Foreign Assets Control, Treasury.

ACTION: Publication of web general licenses.

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SUMMARY: The Department of the Treasury's Office of Foreign Assets 
Control (OFAC) is publishing four general licenses (GLs) issued in the 
Russian Harmful Foreign Activities Sanctions program: GLs 8, 8A, and 
8B, which were previously issued on OFAC's website and are now expired, 
and GL 8C, which was also issued on OFAC's website and expires December 
5, 2022.

DATES: GL 8C was issued on June 14, 2022. See SUPPLEMENTARY INFORMATION 
of this document 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 Sanctions Compliance & 
Evaluation, 202-622-2490.

SUPPLEMENTARY INFORMATION:

Electronic Availability

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

Background

    OFAC issued GL 8 on February 24, 2022 to authorize certain 
transactions otherwise prohibited by Executive Order (E.O.) 14024. At 
the time of issuance, OFAC made GL 8 available on its website 
(www.treas.gov/ofac). Subsequently, OFAC issued further iterations of 
GL 8, all of which were available on OFAC's website. GL 8A, which also 
authorized certain transactions otherwise prohibited by E.O. 14024, was 
issued on February 28, 2022. GL 8B, which authorized certain 
transactions otherwise prohibited by the Russian Harmful Foreign 
Activities Sanctions Regulations, 31 CFR part 587 (RuHSR), was issued 
on April 6, 2022. All three of these GLs had an expiration date of June 
24, 2022. On June 14, 2022, OFAC issued GL 8C, which also authorizes 
certain transactions otherwise prohibited by the RuHSR and

[[Page 54891]]

has an expiration date of December 5, 2022. The text of GLs 8 through 
8C is provided below.

OFFICE OF FOREIGN ASSETS CONTROL

Executive Order 14024 of April 15, 2021

Blocking Property With Respect to Specified Harmful Foreign Activities 
of the Government of the Russian Federation

GENERAL LICENSE NO. 8

Authorizing Transactions Related to Energy

    (a) Except as provided in paragraph (c) of this general license, 
all transactions prohibited by Executive Order (E.O.) 14024 involving 
one or more of the following entities that are related to energy are 
authorized, through 12:01 a.m. eastern daylight time, June 24, 2022:
    (1) State Corporation Bank for Development and Foreign Economic 
Affairs Vnesheconombank;
    (2) Public Joint Stock Company Bank Financial Corporation Otkritie;
    (3) Sovcombank Open Joint Stock Company;
    (4) Public Joint Stock Company Sberbank of Russia;
    (5) VTB Bank Public Joint Stock Company; or
    (6) Any entity in which one or more of the above persons own, 
directly or indirectly, individually or in the aggregate, a 50 percent 
or greater interest.
    (b) For the purposes of this general license, the term ``related to 
energy'' means the extraction, production, refinement, liquefaction, 
gasification, regasification, conversion, enrichment, fabrication, 
transport, or purchase of petroleum, including crude oil, lease 
condensates, unfinished oils, natural gas liquids, petroleum products, 
natural gas, or other products capable of producing energy, such as 
coal, wood, or agricultural products used to manufacture biofuels, or 
uranium in any form, as well as the development, production, 
generation, transmission, or exchange of power, through any means, 
including nuclear, thermal, and renewable energy sources.
    (c) This general license does not authorize:
    (1) The opening or maintaining of a correspondent account or 
payable-through account for or on behalf of any entity subject to 
Directive 2 under E.O. 14024, Prohibitions Related to Correspondent or 
Payable-Through Accounts and Processing of Transactions Involving 
Certain Foreign Financial Institutions; or
    (2) Any transactions involving any person blocked pursuant to E.O. 
14024 other than the blocked persons described in paragraph (a) of this 
general license, unless separately authorized.

    Note to General License No. 8.  This authorization is valid 
until June 24, 2022 unless renewed.


Andrea M. Gacki,

Director, Office of Foreign Assets Control.

    Dated: February 24, 2022.

OFFICE OF FOREIGN ASSETS CONTROL

Executive Order 14024 of April 15, 2021

Blocking Property With Respect to Specified Harmful Foreign Activities 
of the Government of the Russian Federation

GENERAL LICENSE NO. 8A

Authorizing Transactions Related to Energy

    (a) Except as provided in paragraph (c) of this general license, 
all transactions prohibited by Executive Order (E.O.) 14024 involving 
one or more of the following entities that are related to energy are 
authorized, through 12:01 a.m. eastern daylight time, June 24, 2022:
    (1) State Corporation Bank for Development and Foreign Economic 
Affairs Vnesheconombank;
    (2) Public Joint Stock Company Bank Financial Corporation Otkritie;
    (3) Sovcombank Open Joint Stock Company;
    (4) Public Joint Stock Company Sberbank of Russia;
    (5) VTB Bank Public Joint Stock Company;
    (6) Any entity in which one or more of the above persons own, 
directly or indirectly, individually or in the aggregate, a 50 percent 
or greater interest; or
    (7) the Central Bank of the Russian Federation.
    (b) For the purposes of this general license, the term ``related to 
energy'' means the extraction, production, refinement, liquefaction, 
gasification, regasification, conversion, enrichment, fabrication, 
transport, or purchase of petroleum, including crude oil, lease 
condensates, unfinished oils, natural gas liquids, petroleum products, 
natural gas, or other products capable of producing energy, such as 
coal, wood, or agricultural products used to manufacture biofuels, or 
uranium in any form, as well as the development, production, 
generation, transmission, or exchange of power, through any means, 
including nuclear, thermal, and renewable energy sources.
    (c) This general license does not authorize:
    (1) Any transactions prohibited by Directive 1A under E.O. 14024, 
Prohibitions Related to Certain Sovereign Debt of the Russian 
Federation;
    (2) The opening or maintaining of a correspondent account or 
payable-through account for or on behalf of any entity subject to 
Directive 2 under E.O. 14024, Prohibitions Related to Correspondent or 
Payable-Through Accounts and Processing of Transactions Involving 
Certain Foreign Financial Institutions;
    (3) Any debit to an account on the books of a U.S. financial 
institution of the Central Bank of the Russian Federation; or
    (4) Any transactions involving any person blocked pursuant to E.O. 
14024 other than the blocked persons described in paragraph (a) of this 
general license, unless separately authorized.
    (d) Effective February 28, 2022, General License No. 8, dated 
February 24, 2022, is replaced and superseded in its entirety by this 
General License No. 8A.

    Note to General License No. 8A.  This authorization is valid 
until June 24, 2022 unless renewed.


Andrea M. Gacki,

Director, Office of Foreign Assets Control.

    Dated: February 28, 2022.

OFFICE OF FOREIGN ASSETS CONTROL

Russian Harmful Foreign Activities Sanctions Regulations 31 CFR Part 
587

GENERAL LICENSE NO. 8B

Authorizing Transactions Related to Energy

    (a) Except as provided in paragraph (c) of this general license, 
all transactions prohibited by Executive Order (E.O.) 14024 involving 
one or more of the following entities that are related to energy are 
authorized, through 12:01 a.m. eastern daylight time, June 24, 2022:
    (1) State Corporation Bank for Development and Foreign Economic 
Affairs Vnesheconombank;
    (2) Public Joint Stock Company Bank Financial Corporation Otkritie;
    (3) Sovcombank Open Joint Stock Company;
    (4) Public Joint Stock Company Sberbank of Russia;
    (5) VTB Bank Public Joint Stock Company;
    (6) Joint Stock Company Alfa-Bank;

[[Page 54892]]

    (7) Any entity in which one or more of the above persons own, 
directly or indirectly, individually or in the aggregate, a 50 percent 
or greater interest; or
    (8) the Central Bank of the Russian Federation.
    (b) For the purposes of this general license, the term ``related to 
energy'' means the extraction, production, refinement, liquefaction, 
gasification, regasification, conversion, enrichment, fabrication, 
transport, or purchase of petroleum, including crude oil, lease 
condensates, unfinished oils, natural gas liquids, petroleum products, 
natural gas, or other products capable of producing energy, such as 
coal, wood, or agricultural products used to manufacture biofuels, or 
uranium in any form, as well as the development, production, 
generation, transmission, or exchange of power, through any means, 
including nuclear, thermal, and renewable energy sources.
    (c) This general license does not authorize:
    (1) Any transactions prohibited by Directive 1A under E.O. 14024, 
Prohibitions Related to Certain Sovereign Debt of the Russian 
Federation;
    (2) The opening or maintaining of a correspondent account or 
payable-through account for or on behalf of any entity subject to 
Directive 2 under E.O. 14024, Prohibitions Related to Correspondent or 
Payable-Through Accounts and Processing of Transactions Involving 
Certain Foreign Financial Institutions;
    (3) Any debit to an account on the books of a U.S. financial 
institution of the Central Bank of the Russian Federation; or
    (4) Any transactions otherwise prohibited by the Russia Harmful 
Foreign Activities Sanctions Regulations, 31 CFR part 587 (RuHSR), 
including transactions involving any person blocked pursuant to the 
RuHSR other than the blocked persons described in paragraph (a) of this 
general license, unless separately authorized.
    (d) Effective April 6, 2022, General License No. 8A, dated February 
28, 2022, is replaced and superseded in its entirety by this General 
License No. 8B.

    Note to General License No. 8B.  This authorization is valid 
until June 24, 2022 unless renewed.


Andrea M. Gacki,

Director, Office of Foreign Assets Control.

    Dated: April 6, 2022.

OFFICE OF FOREIGN ASSETS CONTROL

Russian Harmful Foreign Activities Sanctions Regulations 31 CFR Part 
587

GENERAL LICENSE NO. 8C

Authorizing Transactions Related to Energy

    (a) Except as provided in paragraph (c) of this general license, 
all transactions prohibited by Executive Order (E.O.) 14024 involving 
one or more of the following entities that are related to energy are 
authorized, through 12:01 a.m. eastern standard time, December 5, 2022:
    (1) State Corporation Bank for Development and Foreign Economic 
Affairs Vnesheconombank;
    (2) Public Joint Stock Company Bank Financial Corporation Otkritie;
    (3) Sovcombank Open Joint Stock Company;
    (4) Public Joint Stock Company Sberbank of Russia;
    (5) VTB Bank Public Joint Stock Company;
    (6) Joint Stock Company Alfa-Bank;
    (7) Any entity in which one or more of the above persons own, 
directly or indirectly, individually or in the aggregate, a 50 percent 
or greater interest; or
    (8) the Central Bank of the Russian Federation.
    (b) For the purposes of this general license, the term ``related to 
energy'' means the extraction, production, refinement, liquefaction, 
gasification, regasification, conversion, enrichment, fabrication, 
transport, or purchase of petroleum, including crude oil, lease 
condensates, unfinished oils, natural gas liquids, petroleum products, 
natural gas, or other products capable of producing energy, such as 
coal, wood, or agricultural products used to manufacture biofuels, or 
uranium in any form, as well as the development, production, 
generation, transmission, or exchange of power, through any means, 
including nuclear, thermal, and renewable energy sources.
    (c) This general license does not authorize:
    (1) Any transactions prohibited by Directive 1A under E.O. 14024, 
Prohibitions Related to Certain Sovereign Debt of the Russian 
Federation;
    (2) The opening or maintaining of a correspondent account or 
payable-through account for or on behalf of any entity subject to 
Directive 2 under E.O. 14024, Prohibitions Related to Correspondent or 
Payable-Through Accounts and Processing of Transactions Involving 
Certain Foreign Financial Institutions;
    (3) Any debit to an account on the books of a U.S. financial 
institution of the Central Bank of the Russian Federation; or
    (4) Any transactions otherwise prohibited by the Russia Harmful 
Foreign Activities Sanctions Regulations, 31 CFR part 587 (RuHSR), 
including transactions involving any person blocked pursuant to the 
RuHSR other than the blocked persons described in paragraph (a) of this 
general license, unless separately authorized.
    (d) Effective June 14, 2022, General License No. 8B, dated April 6, 
2022, is replaced and superseded in its entirety by this General 
License No. 8C.

    Note to General License No. 8C.  This authorization is valid 
until December 5, 2022 unless renewed.


Andrea M. Gacki,

Director, Office of Foreign Assets Control.

    Dated: June 14, 2022.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
[FR Doc. 2022-19312 Filed 9-7-22; 8:45 am]
BILLING CODE 4810-AL-P