[Federal Register Volume 88, Number 118 (Wednesday, June 21, 2023)]
[Rules and Regulations]
[Pages 40095-40096]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-13117]


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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 License 69

AGENCY: Office of Foreign Assets Control, Treasury.

ACTION: Publication of a Web General License.

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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 69, 
which was previously made available on OFAC's website.

DATES: GL 69 was issued on May 31, 2023. See SUPPLEMENTARY INFORMATION 
for additional relevant dates.

FOR FURTHER INFORMATION CONTACT: OFAC: Assistant Director for 
Licensing,

[[Page 40096]]

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: https://ofac.treasury.gov.

Background

    On May 31, 2023, OFAC issued GL 69 to authorize certain 
transactions otherwise prohibited by the Russian Harmful Foreign 
Activities Sanctions Regulations, 31 CFR part 587. GL 69 was made 
available on OFAC's website (https://ofac.treasury.gov) when it was 
issued. The text of this GL is provided below.

OFFICE OF FOREIGN ASSETS CONTROL

Russian Harmful Foreign Activities Sanctions Regulations 31 CFR Part 
587

GENERAL LICENSE NO. 69

Authorizing Certain Debt Securities Servicing Transactions Involving 
International Investment Bank

    (a) Except as provided in paragraph (c) of this general license, 
all transactions prohibited by Executive Order (E.O.) 14024 that are 
ordinarily incident and necessary to the processing of interest or 
principal payments on debt securities issued by International 
Investment Bank (IIB) prior to April 12, 2023 are authorized through 
12:01 a.m. eastern daylight time June 30, 2023, provided that such 
interest or principal payments are not made to persons located in 
the Russian Federation and that any payments to a blocked person, 
wherever located, are made into a blocked account in accordance with 
the Russian Harmful Foreign Activities Sanctions Regulations, 31 CFR 
part 587 (RuHSR).
     Note to paragraph (a). For the purposes of this general 
license, the term ``person located in the Russian Federation'' 
includes persons in the Russian Federation, individuals ordinarily 
resident in the Russian Federation, and entities incorporated or 
organized under the laws of the Russian Federation or any 
jurisdiction within the Russian Federation.
    (b) U.S. financial institutions are authorized to unblock 
interest or principal payments that were blocked on or after April 
12, 2023 but before May 31, 2023 on debt securities issued by IIB 
prior to April 12, 2023, provided that the funds are unblocked 
solely to effect transactions authorized in paragraph (a) of this 
general license.
    Note to paragraph (b). U.S. financial institutions unblocking 
property pursuant to paragraph (b) of this general license are 
required to file an unblocking report pursuant to 31 CFR 501.603.
    (c) This general license does not authorize:
    (1) Any transactions prohibited by Directive 2 under E.O. 14024, 
Prohibitions Related to Correspondent or Payable-Through Accounts 
and Processing of Transactions Involving Certain Foreign Financial 
Institutions;
    (2) Any transactions prohibited by Directive 4 under E.O. 14024, 
Prohibitions Related to Transactions Involving the Central Bank of 
the Russian Federation, the National Wealth Fund of the Russian 
Federation, and the Ministry of Finance of the Russian Federation; 
or
    (3) Any transactions otherwise prohibited by the RuHSR, 
including transactions involving any person blocked pursuant to the 
RuHSR other than the blocked person described in paragraph (a) of 
this general license, unless separately authorized.

Andrea M. Gacki,

Director, Office of Foreign Assets Control.
    Dated: May 31, 2023

Andrea M. Gacki,
Director, Office of Foreign Assets Control.
[FR Doc. 2023-13117 Filed 6-20-23; 8:45 am]
BILLING CODE 4810-AL-P