[Federal Register Volume 89, Number 75 (Wednesday, April 17, 2024)]
[Rules and Regulations]
[Page 27386]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-08144]


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DEPARTMENT OF THE TREASURY

Office of Foreign Assets Control

31 CFR Part 541


Zimbabwe Sanctions Regulations

AGENCY: Office of Foreign Assets Control, Treasury.

ACTION: Final rule.

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SUMMARY: The Department of the Treasury's Office of Foreign Assets 
Control (OFAC) is removing from the Code of Federal Regulations the 
Zimbabwe Sanctions Regulations as a result of the termination of the 
national emergency on which the regulations were based.

DATES:  This rule is effective April 17, 2024.

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.treasury.gov/ofac.

Background

    On March 6, 2003, the President, invoking the authority of, inter 
alia, the International Emergency Economic Powers Act (50 U.S.C. 1701-
1706) (IEEPA), issued Executive Order (E.O.) 13288, ``Blocking Property 
of Persons Undermining Democratic Processes or Institutions in 
Zimbabwe'' (68 FR 11457, March 10, 2003). In E.O. 13288, the President 
determined that the actions and policies of certain members of the 
Government of Zimbabwe and other persons to undermine Zimbabwe's 
democratic processes or institutions, contributing to the deliberate 
breakdown in the rule of law in Zimbabwe, to politically motivated 
violence and intimidation in that country, and to political and 
economic instability in the southern African region, constituted an 
unusual and extraordinary threat to the foreign policy of the United 
States, and declared a national emergency to deal with that threat. In 
E.O. 13391, ``Blocking Property of Additional Persons Undermining 
Democratic Processes or Institutions in Zimbabwe'' (70 FR 71201, 
November 25, 2005), the President took additional steps with respect to 
the continued actions and policies of certain persons who undermine 
Zimbabwe's democratic processes and with respect to the national 
emergency described and declared in E.O. 13288. The President 
additionally expanded the scope of the national emergency with respect 
to Zimbabwe in E.O. 13469, ``Blocking Property of Additional Persons 
Undermining Democratic Processes or Institutions in Zimbabwe'' (73 FR 
43841, July 29, 2008).
    On July 29, 2004, OFAC issued the Zimbabwe Sanctions Regulations, 
31 CFR part 541 (69 FR 45246, July 29, 2004) (the ``Regulations''), as 
an interim final rule to implement E.O. 13288. The Regulations were 
issued in abbreviated form for the purpose of providing immediate 
guidance to the public. On July 10, 2014, the Regulations were adopted 
as a final rule, with changes to implement the two later Executive 
orders and update the Regulations (79 FR 39312, July 10, 2014). 
Subsequently, the Regulations were amended multiple times, most 
recently on January 12, 2024 (89 FR 2142, January 12, 2024).
    On March 4, 2024, the President issued E.O. 14118, ``Termination of 
Emergency with Respect to the Situation in Zimbabwe'' (89 FR 15945, 
March 5, 2024). In E.O. 14118, the President found that the national 
emergency declared in E.O. 13288, as relied upon for additional steps 
taken in E.O. 13391, and as expanded by E.O. 13469, should no longer be 
in effect. Accordingly, the President terminated the national emergency 
declared in E.O. 13288 and revoked that order, E.O. 13391, and E.O. 
13469.
    As a result, OFAC is removing the Regulations from the Code of 
Federal Regulations. Pursuant to section 202(a) of the National 
Emergencies Act (50 U.S.C. 1622(a)) and section 1 of E.O. 14118, 
termination of the national emergency declared in E.O. 13288, as 
modified by E.O. 13391 and E.O. 13469, shall not affect any action 
taken or proceeding pending not finally concluded or determined as of 
March 4, 2024 (the date of E.O. 14118), any action or proceeding based 
on any act committed prior to the date of E.O. 14118, or any rights or 
duties that matured or penalties that were incurred prior to the date 
of E.O. 14118.

Public Participation

    Because the Regulations involve a foreign affairs function, the 
provisions of E.O. 12866 of September 30, 1993, ``Regulatory Planning 
and Review'' (58 FR 51735, October 4, 1993), and the Administrative 
Procedure Act (5 U.S.C. 553) requiring notice of proposed rulemaking, 
opportunity for public participation, and delay in effective date are 
inapplicable. Because no notice of proposed rulemaking is required for 
this rule, the Regulatory Flexibility Act (5 U.S.C. 601-612) does not 
apply.

Paperwork Reduction Act

    The Paperwork Reduction Act does not apply because this rule does 
not impose information collection requirements that would require the 
approval of the Office of Management and Budget under 44 U.S.C. 3501 et 
seq.

List of Subjects in 31 CFR Part 541

    Administrative practice and procedure, Banks, banking, Blocking of 
assets, Brokers, Credit, Foreign trade, Penalties, Reporting and 
recordkeeping requirements, Sanctions, Securities, Services, Zimbabwe.

PART 541--[REMOVED]

0
For the reasons set forth in the preamble, and pursuant to 50 U.S.C. 
1601-1651 and E.O. 14118 (89 FR 15945, March 5, 2024), OFAC amends 31 
CFR chapter V by removing part 541.

Bradley T. Smith,
Director, Office of Foreign Assets Control.
[FR Doc. 2024-08144 Filed 4-16-24; 8:45 am]
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