[Federal Register Volume 88, Number 248 (Thursday, December 28, 2023)]
[Rules and Regulations]
[Page 89574]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-28670]


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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 78

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 78, 
which was previously made available on OFAC's website.

DATES: GL 78 was issued on December 1, 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 December 1, 2023, OFAC issued GL 78 to authorize certain 
transactions otherwise prohibited by the Russian Harmful Foreign 
Activities Sanctions Regulations, 31 CFR part 587. GL 78 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. 78

Authorizing Limited Safety and Environmental Transactions Involving 
Certain Persons or Vessels Blocked on December 1, 2023

    (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 or vessels described in paragraph (b) 
are authorized through 12:01 a.m. eastern standard time, February 
29, 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 (RuHSR):
    (1) The safe docking and anchoring of any of the blocked vessels 
listed in paragraph (b) of this general license (``blocked 
vessels'') in port;
    (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 and vessels 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) Sterling Shipping Incorporated (registered owner of NS 
Champion; IMO 9299719);
    (2) Streymoy Shipping Limited (registered owner of Viktor 
Bakaev, IMO 9610810); and
    (3) HS Atlantica Limited (registered owner of HS Atlantica, IMO 
9322839).
    (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 and vessels 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 or vessels in paragraph 
(b) of this general license, unless separately authorized.

Gregory T. Gatjanis,
Associate Director, Office of Foreign Assets Control.

    Dated: December 1, 2023.

Bradley T. Smith,
Director, Office of Foreign Assets Control.
[FR Doc. 2023-28670 Filed 12-27-23; 8:45 am]
BILLING CODE 4810-AL-P