[Federal Register Volume 88, Number 104 (Wednesday, May 31, 2023)]
[Rules and Regulations]
[Pages 34748-34749]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-11463]


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

DEPARTMENT OF THE TREASURY

Office of Foreign Assets Control

31 CFR Part 587


Publication of Russian Harmful Foreign Activities Sanctions 
Regulations Web General License 8G

AGENCY: Office of Foreign Assets Control, Treasury.

ACTION: Publication of a Web General License.

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

SUMMARY: The Department of the Treasury's Office of Foreign Assets 
Control (OFAC) is publishing one general license (GL) issued pursuant 
to the Russian Harmful Foreign Activities Sanctions Regulations: GL 8G, 
which was previously made available on OFAC's website.

DATES: GL 8G was issued on May 5, 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 Compliance, 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 May 5, 2023, OFAC issued GL 8G to authorize certain transactions 
otherwise prohibited by the Russian Harmful Foreign Activities 
Sanctions Regulations, 31 CFR part 587. GL 8G was made available on 
OFAC's website (www.treas.gov/ofac) when it was issued. The text of 
this GL is provided below.

[[Page 34749]]

OFFICE OF FOREIGN ASSETS CONTROL

Russian Harmful Foreign Activities Sanctions Regulations

31 CFR Part 587

GENERAL LICENSE NO. 8G

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, 
November 1, 2023:
    (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) Public Joint Stock Company Rosbank;
    (8) Bank Zenit Public Joint Stock Company;
    (9) Bank Saint-Petersburg Public Joint Stock Company;
    (10) 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
    (11) 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 Russian 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 May 5, 2023, General License No. 8F, dated 
February 24, 2023, is replaced and superseded in its entirety by 
this General License No. 8G.

    Note to General License No. 8G. This authorization is valid 
until November 1, 2023, unless renewed.


Andrea M. Gacki,
Director, Office of Foreign Assets Control.
    Dated: May 5, 2023.

Andrea M. Gacki,
Director, Office of Foreign Assets Control.
[FR Doc. 2023-11463 Filed 5-30-23; 8:45 am]
BILLING CODE 4810-AL-P