[Federal Register Volume 88, Number 10 (Tuesday, January 17, 2023)]
[Rules and Regulations]
[Pages 2522-2523]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-00348]


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DEPARTMENT OF THE TREASURY

Office of Foreign Assets Control

31 CFR Part 583


Publication of Global Magnitsky Sanctions Regulations Web General 
Licenses 3 and 4

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 two general licenses (GLs) issued pursuant 
to the Global Magnitsky Sanctions Regulations: GLs 3 and 4, each of 
which was previously made available on OFAC's website.

DATES: GLs 3 and 4 were issued on December 9, 2022. See SUPPLEMENTARY 
INFORMATION 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

    On December 9, 2022, OFAC issued GLs 3 and 4 to authorize certain 
transactions otherwise prohibited by the Global Magnitsky Sanctions 
Regulations, 31 CFR part 583. Each GL was made available on OFAC's 
website (www.treas.gov/ofac) when it was issued. Both GLs have an 
expiration date of March 9, 2023. The text of these GLs is provided 
below.

OFFICE OF FOREIGN ASSETS CONTROL

Global Magnitsky Sanctions Regulations

31 CFR Part 583

GENERAL LICENSE NO. 3

Authorizing Transactions Related to Debt or Equity of Pingtan Marine 
Enterprise Ltd.

    (a) Except as provided in paragraphs (d) and (e) of this general 
license, all transactions prohibited by the Global Magnitsky Sanctions 
Regulations, 31 CFR part 583 (GMSR), that are ordinarily incident and 
necessary to the divestment or transfer, or facilitation of the 
divestment or transfer, of debt or equity of Pingtan Marine Enterprise 
Ltd. (PME) to a non-U.S. person are authorized through 12:01 a.m. 
eastern standard time, March 9, 2023.
    (b) Except as provided in paragraph (e) of this general license, 
all transactions prohibited by the GMSR that are ordinarily incident 
and necessary to facilitating, clearing, and settling trades of debt or 
equity of PME that were placed prior to 4:00 p.m. eastern standard 
time, December 9, 2022, are authorized through 12:01 a.m. eastern 
standard time, March 9, 2023.
    (c) Except as provided in paragraph (e) of this general license, 
all transactions prohibited by the GMSR that are ordinarily incident 
and necessary to the wind down of financial contracts or other 
agreements linked to the debt or equity of PME and entered into prior 
to 4:00 p.m. eastern standard time, December 9, 2022 are authorized 
through 12:01 a.m. eastern standard time, March 9, 2023, provided that 
any payments to a blocked person are made into a blocked account in 
accordance with the GMSR.
    Note to paragraph (c). The wind down of financial contracts or 
other agreements linked to the debt or equity of PME includes the 
delisting of PME from a U.S. securities exchange.
    (d) Paragraph (a) of this general license does not authorize:
    (1) U.S. persons to sell, or to facilitate the sale of debt or 
equity of PME to, directly or indirectly, any person whose property and 
interests in property are blocked; or
    (2) U.S. persons to purchase or invest in, or to facilitate the 
purchase of or investment in, directly or indirectly, debt or equity of 
PME, other than purchases of or investments in debt or equity of PME 
that are ordinarily incident and necessary to the divestment or 
transfer of debt or equity of PME as described in paragraph (a) of this 
general license.

[[Page 2523]]

    (e) This general license does not authorize any transactions 
otherwise prohibited by the GMSR, including transactions involving any 
person blocked pursuant to the GMSR other than PME, unless separately 
authorized.

Andrea M. Gacki,
Director,
Office of Foreign Assets Control.

Dated: December 9, 2022.

OFFICE OF FOREIGN ASSETS CONTROL

Global Magnitsky Sanctions Regulations

31 CFR Part 583

GENERAL LICENSE NO. 4

Authorizing the Wind Down of Transactions Involving Certain Vessels

    (a) Except as provided in paragraph (b) of this general license, 
all transactions ordinarily incident and necessary to the wind down of 
any transaction involving any vessel in which any of the following 
blocked entities have an interest that are prohibited by the Global 
Magnitsky Sanctions Regulations, 31 CFR part 583 (GMSR), are authorized 
through 12:01 a.m. eastern standard time, March 9, 2023, provided that 
any payment to a blocked person must be made into a blocked account in 
accordance with the GMSR:
    (1) Dalian Ocean Fishing Co., Ltd.;
    (2) Fujian Provincial Pingtan County Ocean Fishing Group Co., Ltd.;
    (3) Fuzhou Honglong Ocean Fishing Co., Ltd.;
    (4) Pingtan Marine Enterprise Ltd.; or
    (5) Any entity in which one or more of the above entities own, 
directly or indirectly, individually or in the aggregate, a 50 percent 
or greater interest.
    (b) This general license does not authorize:
    (1) The entry into any new commercial contracts involving the 
entities or vessels described in paragraph (a) of this general license, 
except as authorized by paragraph (a); or
    (2) Any transactions otherwise prohibited by the GMSR, including 
transactions involving any person blocked pursuant to the GMSR other 
than the blocked entities described in paragraph (a) of this general 
license, unless separately authorized.

Andrea M. Gacki,
Director,
Office of Foreign Assets Control,

Dated: December 9, 2022.

Andrea M. Gacki,
Director, Office of Foreign Assets Control.
[FR Doc. 2023-00348 Filed 1-13-23; 8:45 am]
BILLING CODE 4810-AL-P