[Federal Register Volume 89, Number 56 (Thursday, March 21, 2024)]
[Rules and Regulations]
[Pages 20116-20119]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-05990]


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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 Licenses 88, 88A, 89, 90, 91, 91A, 92, and 93

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 eight general licenses (GLs) issued 
pursuant to the Russian Harmful Foreign Activities Sanctions 
Regulations: GLs 88, 88A, 89, 90, 91, 91A, 92, and 93, each of which 
were previously made available on OFAC's website.

DATES: GLs 88, 88A, 89, 90, 91, 91A, 92, and 93 were issued on February 
23, 2024. 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 February 23, 2024, OFAC issued GLs 88, 89, 90, 91, 92, and 93 to 
authorize certain transactions otherwise prohibited by the Russian 
Harmful Foreign Activities Sanctions Regulations, 31 CFR part 587 
(RuHSR). Also on February 23, 2024, OFAC issued GLs 88A and 91A, which 
superseded GLs 88 and 91, respectively. GL 88 had an expiration date of 
April 8, 2024; GLs 88A, 89, 90, and 92 expire on April 8, 2024. GL 91 
had an expiration date of May 23, 2024; GL 91A expires on May 23, 2024. 
Each GL was

[[Page 20117]]

made available on OFAC's website (https://ofac.treasury.gov) when it 
was issued. 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. 88

Authorizing the Wind Down of Transactions Involving Certain Entities 
Blocked on February 23, 2024

    (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 
are authorized through 12:01 a.m. eastern daylight time, April 8, 
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):
    (1) PJSC Transcontainer;
    (2) Publichnoe Aktsionernoe Obshchestvo Mechel;
    (3) JSC SUEK;
    (4) ILLC Geopromining Investment;
    (5) LLC Holding GPM;
    (6) Joint Stock Company Samara Metallurgical Plant;
    (7) Joint Stock Company Rimera;
    (8) Public Joint Stock Company Pipe Metallurgical Company;
    (9) Vostochnaya Stevedoring Company LLC;
    (10) JSC Rosgeologia;
    (11) National Payment Card System Joint Stock Company;
    (12) Limited Liability Company BSF Capital;
    (13) Limited Liability Company Investment Consultant Elbrus 
Capital;
    (14) Limited Liability Company Orbita Capital Partners;
    (15) Nonprofit Organization Investment and Venture Fund of the 
Republic of Tatarstan;
    (16) Obshchestvo S Ogranichennoi Otvetstvennostyu Guard Kapital;
    (18) Limited Liability Company Shipbuilding Complex Zvezda; and
    (19) 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 persons described in paragraph (a) of 
this general license, unless separately authorized.

Bradley T. Smith,
Director, Office of Foreign Assets Control.

    Dated: February 23, 2024.

OFFICE OF FOREIGN ASSETS CONTROL

Russian Harmful Foreign Activities Sanctions Regulations

31 CFR Part 587

GENERAL LICENSE NO. 88A

Authorizing the Wind Down of Transactions Involving Certain Entities 
Blocked on February 23, 2024

    (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 
are authorized through 12:01 a.m. eastern daylight time, April 8, 
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):
    (1) PJSC Transcontainer;
    (2) Publichnoe Aktsionernoe Obshchestvo Mechel;
    (3) JSC SUEK;
    (4) ILLC Geopromining Investment;
    (5) LLC Holding GPM;
    (6) Joint Stock Company Samara Metallurgical Plant;
    (7) Joint Stock Company Rimera;
    (8) Public Joint Stock Company Pipe Metallurgical Company;
    (9) Vostochnaya Stevedoring Company LLC;
    (10) JSC Rosgeologia;
    (11) National Payment Card System Joint Stock Company;
    (12) Limited Liability Company BSF Capital;
    (13) Limited Liability Company Investment Consultant Elbrus 
Capital;
    (14) Limited Liability Company Orbita Capital Partners;
    (15) Nonprofit Organization Investment and Venture Fund of the 
Republic of Tatarstan;
    (16) Obshchestvo S Ogranichennoi Otvetstvennostyu Guard Kapital;
    (18) Limited Liability Company Shipbuilding Complex Zvezda;
    (19) Joint Stock Company Sovcomflot; and
    (20) 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 persons described in paragraph (a) of 
this general license, unless separately authorized.
    (c) Effective February 23, 2024, General License No. 88, dated 
February 23, 2024, is replaced and superseded in its entirety by 
this General License No. 88A.

Bradley T. Smith,
Director, Office of Foreign Assets Control.

    Dated: February 23, 2024.

OFFICE OF FOREIGN ASSETS CONTROL

Russian Harmful Foreign Activities Sanctions Regulations

31 CFR Part 587

GENERAL LICENSE NO. 90

Authorizing Certain Transactions Related to Debt or Equity of, or 
Derivative Contracts Involving, Certain Entities Blocked on February 
23, 2024

    (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 issued or guaranteed by the following blocked entities 
(``Covered Debt or Equity'') to a non-U.S. person are authorized 
through 12:01 a.m. eastern daylight time, April 8, 2024:
    (1) LLC Holding GPM;
    (2) Limited Liability Company Geopromaining Verkhne Menkeche;
    (3) Joint Stock Company Sarylakh Surma;
    (4) Joint Stock Company Zvezda;
    (5) ILLC Geopromining Investment;
    (6) Public Joint Stock Company PIK Specialized Homebuilder; and
    (7) 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 standard time, February 23, 2024 are authorized through 
12:01 a.m. eastern daylight time, April 8, 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, February 23, 
2024 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 daylight 
time, April 8, 2024, provided that any payments to a blocked person 
are made into a blocked account in accordance with the Russian

[[Page 20118]]

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: February 23, 2024.

OFFICE OF FOREIGN ASSETS CONTROL

Russian Harmful Foreign Activities Sanctions Regulations

31 CFR Part 587

GENERAL LICENSE NO. 91

Authorizing Limited Safety and Environmental Transactions Involving 
Certain Blocked Persons or Vessels

    (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 one of the following activities 
involving the blocked persons described in paragraph (b) are 
authorized through 12:01 a.m. eastern daylight time, May 23, 2024, 
provided that any payment to a blocked person must be made into a 
blocked account in accordance with the Russian Harmful Foreign 
Activities Sanctions Regulations, 31 CFR part 587 (RuHSR):
    (1) The safe docking and anchoring in port of any vessels in 
which any person listed in paragraph (b) of this general license has 
a property interest (``blocked vessels'');
    (2) The preservation of the health or safety of the crew of any 
of the blocked vessels; or
    (3) Emergency repairs of any of the blocked vessels or 
environmental mitigation or protection activities relating to any of 
the blocked vessels.
    (b) The authorization in paragraph (a) of this general license 
applies to the following blocked persons listed on the Office of 
Foreign Assets Control's Specially Designated Nationals and Blocked 
Persons List and any entity in which any of the following persons 
own, directly or indirectly, individually or in the aggregate, a 50 
percent or greater interest:
    (1) Ladoga Shipping Company Limited Liability Company;
    (2) JSC Polar Marine Geosurvey Expedition;
    (3) Yuzhmorgeologiya AO;
    (4) Sevmorneftegeofizika AO; and
    (5) Amige AO.
    (c) This general license does not authorize:
    (1) The entry into any new commercial contracts involving the 
property or interests in property of any blocked persons, including 
the blocked entities described in paragraph (b) of this general 
license, except as authorized by paragraph (a);
    (2) The offloading of any cargo onboard any of the blocked 
vessels, including the offloading of crude oil or petroleum products 
of Russian Federation origin, except for the offloading of cargo 
that is ordinarily incident and necessary to address vessel 
emergencies authorized pursuant to paragraph (a) of this general 
license;
    (3) Any transactions related to the sale of crude oil or 
petroleum products of Russian Federation origin;
    (4) 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;
    (5) 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
    (6) Any transactions otherwise prohibited by the RuHSR, 
including transactions involving the property or interests in 
property of any person blocked pursuant to the RuHSR, other than 
transactions involving the blocked persons described in paragraph 
(b) of this general license, unless separately authorized.

Bradley T. Smith,
Director, Office of Foreign Assets Control.

    Dated: February 23, 2024.

OFFICE OF FOREIGN ASSETS CONTROL

Russian Harmful Foreign Activities Sanctions Regulations

31 CFR Part 587

GENERAL LICENSE NO. 91A

Authorizing Limited Safety and Environmental Transactions Involving 
Certain Blocked Persons or Vessels

    (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 one of the following activities 
involving the blocked persons described in paragraph (b) are 
authorized through 12:01 a.m. eastern daylight time, May 23, 2024, 
provided that any payment to a blocked person must be made into a 
blocked account in accordance with the Russian Harmful Foreign 
Activities Sanctions Regulations, 31 CFR part 587 (RuHSR):
    (1) The safe docking and anchoring in port of any vessels in 
which any person listed in paragraph (b) of this general license has 
a property interest (``blocked vessels'');
    (2) The preservation of the health or safety of the crew of any 
of the blocked vessels; or
    (3) Emergency repairs of any of the blocked vessels or 
environmental mitigation or protection activities relating to any of 
the blocked vessels.
    (b) The authorization in paragraph (a) of this general license 
applies to the following blocked persons listed on the Office of 
Foreign Assets Control's Specially Designated Nationals and Blocked 
Persons List and any entity in which any of the following persons 
own, directly or indirectly, individually or in the aggregate, a 50 
percent or greater interest:
    (1) Ladoga Shipping Company Limited Liability Company;
    (2) JSC Polar Marine Geosurvey Expedition;
    (3) Yuzhmorgeologiya AO;
    (4) Sevmorneftegeofizika AO
    (5) Amige AO; and
    (6) Joint Stock Company Sovcomflot.
    (c) This general license does not authorize:
    (1) The entry into any new commercial contracts involving the 
property or interests in property of any blocked persons, including 
the blocked entities described in paragraph (b) of this general 
license, except as authorized by paragraph (a);
    (2) The offloading of any cargo onboard any of the blocked 
vessels, including the offloading of crude oil or petroleum products 
of Russian Federation origin, except for the offloading of cargo 
that is ordinarily incident and necessary to address vessel 
emergencies authorized pursuant to paragraph (a) of this general 
license;
    (3) Any transactions related to the sale of crude oil or 
petroleum products of Russian Federation origin;
    (4) 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;
    (5) 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
    (6) Any transactions otherwise prohibited by the RuHSR, 
including transactions involving the property or interests in 
property of any person blocked pursuant to the RuHSR, other than 
transactions involving the blocked persons described in paragraph 
(b) of this general license, unless separately authorized.
    (d) Effective February 23, 2024, General License No. 91, dated 
February 23, 2024, is replaced and superseded in its entirety by 
this General License No. 91A.

Bradley T. Smith,
Director, Office of Foreign Assets Control.


[[Page 20119]]


    Dated: February 23, 2024.

OFFICE OF FOREIGN ASSETS CONTROL

Russian Harmful Foreign Activities Sanctions Regulations

31 CFR Part 587

GENERAL LICENSE NO. 92

Authorizing the Offloading of Cargo From Sovcomflot Vessels

    (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 delivery and offloading of 
cargo from any vessel identified on the Office of Foreign Assets 
Control's List of Specially Designated Nationals and Blocked Persons 
that is blocked solely due to a property interest of Joint Stock 
Company Sovcomflot (Sovcomflot), or any entity in which Sovcomflot 
owns, directly or indirectly, a 50 percent or greater interest, are 
authorized through 11:59 p.m. eastern daylight time, April 8, 2024, 
provided that the cargo was loaded prior to February 23, 2024.
    (b) This general license does not authorize:
    (1) The entry into any new commercial contracts involving the 
property or interests in property of any blocked persons, including 
the blocked entity described in paragraph (a) of this general 
license, except as authorized by paragraph (a);
    (2) 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;
    (3) 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
    (4) Any transactions otherwise prohibited by the RuHSR, 
including transactions involving the property or interests in 
property of any person blocked pursuant to the RuHSR, other than 
transactions involving the blocked persons or vessels described in 
paragraph (a) of this general license, unless separately authorized.

Bradley T. Smith,
Director, Office of Foreign Assets Control.

    Dated: February 23, 2024.

OFFICE OF FOREIGN ASSETS CONTROL

Russian Harmful Foreign Activities Sanctions Regulations

31 CFR Part 587

GENERAL LICENSE NO. 93

Authorizing Transactions Involving Certain Sovcomflot Vessels

    (a) Except as provided in paragraph (b) of this general license, 
all transactions prohibited by Executive Order (E.O.) 14024 
involving any vessel that is blocked solely due to a property 
interest of Joint Stock Company Sovcomflot or any entity in which 
Sovcomflot owns, directly or indirectly, a 50 percent or greater 
interest, are authorized, provided that such vessel is not 
identified on the Office of Foreign Assets Control's List of 
Specially Designated Nationals and Blocked Persons.
    (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 Russian Harmful 
Foreign Activities Sanctions Regulations, 31 CFR part 587 (RuHSR), 
including transactions involving any person or property blocked 
pursuant to the RuHSR other than the blocked persons and vessels 
described in paragraph (a) of this general license, unless 
separately authorized.

Bradley T. Smith,
Director, Office of Foreign Assets Control.

    Dated: February 23, 2024.

Bradley T. Smith,
Director, Office of Foreign Assets Control.
[FR Doc. 2024-05990 Filed 3-20-24; 8:45 am]
BILLING CODE 4810-AL-P