[Federal Register Volume 89, Number 173 (Friday, September 6, 2024)]
[Rules and Regulations]
[Pages 72719-72721]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-19913]


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DEPARTMENT OF THE TREASURY

Office of Foreign Assets Control

31 CFR Part 587


Publication of Russia Harmful Activities Sanctions Regulations 
Web General Licenses 99A, 100A, and 102

AGENCY: Office of Foreign Assets Control, Treasury.

[[Page 72720]]


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 three general licenses (GLs) issued 
pursuant to the Russian Harmful Foreign Activities Sanctions 
Regulations: GLs 99A, 100A, and 102, each of which was previously made 
available on OFAC's website.

DATES: GLs 99A and 100A were issued on August 2, 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 August 2, 2024, OFAC issued GLs 99A and 100A to authorize 
certain transactions otherwise prohibited by the Russian Harmful 
Foreign Activities Sanctions Regulations, 31 CFR part 587 (RuHSR). 
These GLs supersede GLs 99 and 100, respectively, and have expiration 
dates of October 12, 2024. On August 12, 2024, OFAC issued GL 102, 
authorizing transactions otherwise prohibited by the RuHSR and expiring 
November 12, 2024. Each GL was 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. 99A

Authorizing the Wind Down of Transactions and Certain Transactions 
Related to Debt or Equity of, or Derivative Contracts Involving, MOEX, 
NCC, or NSD

    (a) Except as provided in paragraph (f) 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, October 12, 
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) Moscow Exchange (MOEX);
    (2) National Clearing Center (NCC);
    (3) Non-Bank Credit Institution Joint Stock Company National 
Settlement Depository (NSD); and
    (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 paragraphs (e) and (f) of this general 
license, all transactions prohibited by 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 any of the blocked entities identified in 
paragraph (a) (``Covered Debt or Equity'') to a non-U.S. person are 
authorized through 12:01 a.m. eastern daylight time, October 12, 
2024.
    (c) Except as provided in paragraph (f) 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, June 12, 2024 are authorized through 12:01 
a.m. eastern daylight time, October 12, 2024.
    (d) Except as provided in paragraph (f) 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 daylight time June 12, 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, 
October 12, 2024, provided that any payments to a blocked person are 
made into a blocked account in accordance with the RuHSR.
    (e) Paragraph (b) 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 (b) of 
this general license.
    (f) 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.
    (g) Effective August 2, 2024, General License No. 99, dated June 
12, 2024, is replaced and superseded in its entirety by this General 
License No. 99A.

Bradley T. Smith,

Director, Office of Foreign Assets Control.

    Dated: August 2, 2024.

OFFICE OF FOREIGN ASSETS CONTROL

Russian Harmful Foreign Activities Sanctions Regulations

31 CFR Part 587

GENERAL LICENSE NO. 100A

Authorizing Certain Transactions Related to Debt or Equity or the 
Conversion of Currencies Involving MOEX, NCC, or NSD

    (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 divestment of debt or 
equity to a non-U.S. person, who is not a person whose property or 
interests in property are blocked, or the conversion of currencies, 
involving one or more of the following blocked entities that is 
acting solely as a securities, trade, or settlement depository, 
central counterparty or clearing house, or public trading market, 
are authorized through 12:01 a.m. eastern daylight time, October 12, 
2024:
    (1) Moscow Exchange (MOEX);
    (2) National Clearing Center (NCC);
    (3) Non-Bank Credit Institution Joint Stock Company National 
Settlement Depository (NSD); and
    (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 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.
    (c) Effective August 2, 2024, General License No. 100, dated 
June 12, 2024, is replaced and superseded in its entirety by this 
General License No. 100A.

Bradley T. Smith,

Director, Office of Foreign Assets Control.

    Dated: August 2, 2024.

[[Page 72721]]

OFFICE OF FOREIGN ASSETS CONTROL

Russian Harmful Foreign Activities Sanctions Regulations

31 CFR Part 587

GENERAL LICENSE NO. 102

Authorizing Certain Transactions Involving VPower Finance Security 
(Hong Kong) Limited

    (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 transportation, delivery, 
or storage of currency; cash processing services; or maintenance of 
automated teller machines (ATMs) within Hong Kong involving VPower 
Finance Security (Hong Kong) Limited (``VPower'') are authorized 
through 12:01 a.m. eastern standard time, November 12, 2024.
    (b) Except as provided in paragraph (c) of this general license, 
all transactions prohibited by E.O. 14024 that are ordinarily 
incident and necessary to the provision and staffing of customer 
service centers for mass transit railway stations within Hong Kong 
involving VPower are authorized through 12:01 a.m. eastern standard 
time, November 12, 2024.
    (c) This general license does not authorize:
    (1) Any transactions related to the transportation, delivery, or 
storage of gold;
    (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 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 person described in paragraph (a) of 
this general license, unless separately authorized.

Lisa M. Palluconi,

Acting Director, Office of Foreign Assets Control.

    Dated: August 12, 2024.

Lisa M. Palluconi,
Acting Director, Office of Foreign Assets Control.
[FR Doc. 2024-19913 Filed 9-5-24; 8:45 am]
BILLING CODE 4810-AL-P