[Federal Register Volume 88, Number 223 (Tuesday, November 21, 2023)]
[Rules and Regulations]
[Pages 80984-80986]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-25642]


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

DEPARTMENT OF THE TREASURY

Office of Foreign Assets Control

31 CFR Part 587


Publication of Russian Harmful Foreign Activities Sanctions 
Regulations Web General Licenses 13G, 74, 75, and 76.

AGENCY: Office of Foreign Assets Control, Treasury.

ACTION: Publication of web general licenses.

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

SUMMARY: The Department of the Treasury's Office of Foreign Assets 
Control (OFAC) is publishing four general licenses (GLs) issued 
pursuant to the Russian Harmful Foreign Activities Sanctions 
Regulations: GLs 13G, 74, 75, and 76, each of which were previously 
made available on OFAC's website.

DATES: GLs 13G, 74, 75, and 76 were issued on November 2, 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: https://ofac.treasury.gov.

Background

    On November 2, 2023, OFAC issued GLs 13G, 74, 75, and 76 to 
authorize certain transactions otherwise prohibited by the Russian 
Harmful Foreign Activities Sanctions Regulations, 31 CFR part 587. Each 
GL was made available on OFAC's website (https://ofac.treasury.gov) 
when it was issued and has an expiration date of January 31, 2024. The 
text of these GLs is provided below.

OFFICE OF FOREIGN ASSETS CONTROL

Russian Harmful Foreign Activities Sanctions Regulations

31 CFR Part 587

GENERAL LICENSE NO. 13G

Authorizing Certain Administrative Transactions Prohibited by Directive 
4 Under Executive Order 14024

    (a) Except as provided in paragraph (b) of this general license, 
U.S. persons, or entities owned or controlled, directly or indirectly, 
by a U.S. person, are authorized to pay taxes, fees, or import duties, 
and purchase or receive permits, licenses, registrations, 
certifications, or tax refunds to the extent such transactions are 
prohibited by Directive 4 under Executive Order 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, provided such 
transactions are ordinarily incident and necessary to the day-to-day 
operations in the Russian Federation of such U.S. persons or entities, 
through 12:01 a.m. eastern standard time, January 31, 2024.
    (b) This general license does not authorize:
    (1) Any debit to an account on the books of a U.S. financial 
institution of the Central Bank of the Russian Federation, the National 
Wealth Fund of the Russian Federation, or the Ministry of Finance of 
the Russian Federation; or
    (2) 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, unless separately authorized.
    (c) Effective November 2, 2023, General License No. 13F, dated 
August

[[Page 80985]]

10, 2023, is replaced and superseded in its entirety by this General 
License No. 13G.

Bradley T. Smith,

Director, Office of Foreign Assets Control.

    Dated: November 2, 2023.

OFFICE OF FOREIGN ASSETS CONTROL

Russian Harmful Foreign Activities Sanctions Regulations

31 CFR Part 587

GENERAL LICENSE NO. 74

Authorizing the Wind Down and Rejection of Transactions Involving East-
West United 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 wind down of transactions 
involving East-West United Bank, or any entity in which East-West 
United Bank owns, directly or indirectly, a 50 percent or greater 
interest, are authorized through 12:01 a.m. eastern standard time, 
January 31, 2024, provided that any payment to a blocked person is made 
into a blocked account in accordance with the Russian Harmful Foreign 
Activities Sanctions Regulations, 31 CFR part 587 (RuHSR).
    (b) Except as provided in paragraph (c) of this general license, 
U.S. persons are authorized to reject, rather than block, and return to 
the originator or originating financial institution or their successor-
in-interest, all transactions prohibited by E.O. 14024 that are 
ordinarily incident and necessary to the processing of funds involving 
East-West United Bank, or any entity in which East-West United Bank 
owns, directly or indirectly, a 50 percent or greater interest, as an 
originating, intermediary, or beneficiary financial institution, 
through 12:01 a.m. eastern standard time, January 31, 2024.
    (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 debit to an account on the books of a U.S. financial 
institution of the Central Bank of the Russian Federation, the National 
Wealth Fund of the Russian Federation, or 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 persons described in paragraph (a) of this general 
license, unless separately authorized.

Bradley T. Smith,

Director, Office of Foreign Assets Control.

    Dated: November 2, 2023.

OFFICE OF FOREIGN ASSETS CONTROL

Russian Harmful Foreign Activities Sanctions Regulations

31 CFR Part 587

GENERAL LICENSE NO. 75

Authorizing Certain Transactions Related to Debt or Equity of, or 
Derivative Contracts Involving, Certain Entities Blocked on November 2, 
2023

    (a) Except as provided in paragraphs (d) and (e) of this general 
license, all transactions prohibited by Executive Order (E.O.) 14024 
that are ordinarily incident and necessary to the divestment or 
transfer, or the facilitation of the divestment or transfer, of debt or 
equity of the following blocked entities (``Covered Debt or Equity'') 
to a non-U.S. person are authorized through 12:01 a.m. eastern standard 
time, January 31, 2024:
    (1) Sistema Public Joint Stock Financial Corporation;
    (2) East-West United Bank;
    (3) Limited Liability Company Arctic LNG 2; or
    (4) 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) Except as provided in paragraph (e) of this general license, 
all transactions prohibited by E.O. 14024 that are ordinarily incident 
and necessary to facilitating, clearing, and settling trades of Covered 
Debt or Equity that were placed prior to 4:00 p.m. eastern daylight 
time, November 2, 2023 are authorized through 12:01 a.m. eastern 
standard time, January 31, 2024.
    (c) Except as provided in paragraph (e) of this general license, 
all transactions prohibited by E.O. 14024 that are ordinarily incident 
and necessary to the wind down of derivative contracts entered into 
prior to 4:00 p.m. eastern standard time, November 2, 2023 that (i) 
include a blocked person described in paragraph (a) of this general 
license as a counterparty or (ii) are linked to Covered Debt or Equity 
are authorized through 12:01 a.m. eastern standard time, January 31, 
2024, provided that any payments to a blocked person are made into a 
blocked account in accordance with the Russian Harmful Foreign 
Activities Sanctions Regulations, 31 CFR part 587 (RuHSR).
    (d) Paragraph (a) of this general license does not authorize:
    (1) U.S. persons to sell, or to facilitate the sale of, Covered 
Debt or Equity 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, Covered Debt or 
Equity, other than purchases of or investments in Covered Debt or 
Equity ordinarily incident and necessary to the divestment or transfer 
of Covered Debt or Equity as described in paragraph (a) of this general 
license.
    (e) 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 persons described in paragraph (a) of this general 
license, unless separately authorized.

Bradley T. Smith,

Director, Office of Foreign Assets Control.

    Dated: November 2, 2023.

OFFICE OF FOREIGN ASSETS CONTROL

Russian Harmful Foreign Activities Sanctions Regulations

31 CFR Part 587

GENERAL LICENSE NO. 76

Authorizing the Wind Down of Transactions Involving Certain Entities 
Blocked on November 2, 2023

    (a) Except as provided in paragraph (b) of this general license, 
all transactions prohibited by Executive Order (E.O.) 14024 that are 
ordinarily incident and necessary to the wind down of any transaction 
involving one or more of the following blocked entities (collectively, 
the ``Blocked Entities'') are authorized through 12:01 a.m. eastern 
standard time, January 31, 2024, provided that any payment to a Blocked 
Entity is made into a blocked account in accordance with the Russian 
Harmful

[[Page 80986]]

Foreign Activities Sanctions Regulations, 31 CFR part 587 (RuHSR):
    (1) Sistema Public Joint Stock Financial Corporation;
    (2) Saint Petersburg Stock Exchange;
    (3) Limited Liability Company Arctic LNG 2; or
    (4) 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) 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 Entities described in paragraph (a) of this general 
license, unless separately authorized.

Bradley T. Smith,

Director, Office of Foreign Assets Control.

    Dated: November 2, 2023.

Bradley T. Smith,
Director, Office of Foreign Assets Control.
[FR Doc. 2023-25642 Filed 11-20-23; 8:45 am]
BILLING CODE 4810-AL-P