[Federal Register Volume 88, Number 54 (Tuesday, March 21, 2023)]
[Rules and Regulations]
[Page 16887]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-05645]


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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 Determination

AGENCY: Office of Foreign Assets Control, Treasury.

ACTION: Publication of a determination.

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SUMMARY: The Department of the Treasury's Office of Foreign Assets 
Control (OFAC) is publishing a sector determination issued pursuant to 
an April 15, 2021 Executive order. The determination was previously 
issued on OFAC's website.

DATES: The Determination Pursuant to Section 1(a)(i) of Executive Order 
14024 was issued on February 24, 2023. 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 April 15, 2021, the President, invoking the authority of, inter 
alia, the International Emergency Economic Powers Act (50 U.S.C. 1701 
et seq.) (IEEPA), issued Executive Order (E.O.) 14024 (86 FR 20249, 
April 19, 2022). Among other prohibitions, section 1(a)(i) of E.O. 
14024 blocks, with certain exceptions, 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 
U.S. person of any person determined by the Secretary of the Treasury, 
in consultation with the Secretary of State, or by the Secretary of 
State, in consultation with the Secretary of the Treasury, to operate 
or have operated in the technology sector or the defense and related 
material sector of the Russian Federation economy, or any other sector 
of the Russian Federation economy as may be determined by the Secretary 
of the Treasury, in consultation with the Secretary of State. On 
February 24, 2023, pursuant to delegated authority, the Director of 
OFAC, in consultation with the Department of State, determined that the 
prohibitions in section 1(a)(i) of E.O. 14024 shall apply to the metals 
and mining sector of the Russian Federation economy.
    The determination took effect on February 24, 2023. The text of the 
determination is below.

OFFICE OF FOREIGN ASSETS CONTROL

Determination Pursuant to Section 1(a)(i) of Executive Order 14024

Metals and Mining Sector of the Russian Federation Economy

    Section 1(a)(i) of Executive Order (E.O.) 14024 of April 15, 2021 
(``Blocking Property With Respect To Specified Harmful Foreign 
Activities of the Government of the Russian Federation'') imposes 
economic sanctions on any person determined by the Secretary of the 
Treasury, in consultation with the Secretary of State, or the Secretary 
of State, in consultation with the Secretary of the Treasury, to 
operate or have operated in such sectors of the Russian Federation 
economy as may be determined by the Secretary of the Treasury, in 
consultation with the Secretary of State.
    To further address the unusual and extraordinary threat to the 
national security, foreign policy, and economy of the United States 
described in E.O. 14024, and in consultation with the Department of 
State and pursuant to 31 CFR 587.802, I hereby determine that section 
1(a)(i) of E.O. 14024 shall apply to the metals and mining sector of 
the Russian Federation economy. Any person determined, pursuant to 
section 1(a)(i) of E.O. 14024, to operate or have operated in this 
sector shall be subject to sanctions pursuant to section 1(a)(i).
    This determination shall take effect on February 24, 2023.

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

February 24, 2023.

Andrea M. Gacki,
Director, Office of Foreign Assets Control.
[FR Doc. 2023-05645 Filed 3-20-23; 8:45 am]
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