[Federal Register Volume 89, Number 193 (Friday, October 4, 2024)]
[Rules and Regulations]
[Pages 80740-80741]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-22934]


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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 79 and 80

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 two general licenses (GLs) issued pursuant 
to the Russian Harmful Foreign Activities Sanctions Regulations: GLs 79 
and 80, each of which was previously made available on OFAC's website.

DATES: GLs 79 and 80 were issued on December 12, 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 or 
https://ofac.treasury.gov/contact-ofac.

SUPPLEMENTARY INFORMATION:

Electronic Availability

    This document and additional information concerning OFAC are 
available on OFAC's website: https://ofac.treasury.gov/.

Background

    On December 12, 2023, OFAC issued GLs 79 and 80 to authorize 
certain transactions otherwise prohibited by the Russian Harmful 
Foreign Activities Sanctions Regulations, 31 CFR part 587. Each GL has 
an expiration date of March 11, 2024 and was made available on OFAC's 
website (https://ofac.treasury.gov/) at the time of publication. 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. 79

Authorizing the Wind Down of Transactions Involving Certain Entities 
Blocked on December 12, 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 are authorized 
through 12:01 a.m. eastern daylight time, March 11, 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) Limited Liability Company Kyiv Square;
    (2) Highland Gold Mining Limited;
    (3) Limited Liability Company Kismet Capital Group; 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, as amended; or
    (3) Any transactions otherwise prohibited by the RuHSR, including 
transactions involving any person blocked pursuant to the RuHSR other 
than the blocked persons mentioned in paragraph (a), unless separately 
authorized.

Bradley T. Smith,

Director, Office of Foreign Assets Control.

    Dated: December 12, 2023.

OFFICE OF FOREIGN ASSETS CONTROL

Russian Harmful Foreign Activities Sanctions Regulations

31 CFR Part 587

GENERAL LICENSE NO. 80

Authorizing Certain Transactions Related to Debt or Equity of, or 
Derivative Contracts Involving, Highland Gold Mining Limited

    (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 Highland Gold Mining Limited (Highland Gold), or any entity 
in which Highland Gold owns, directly or indirectly, a 50 percent or 
greater interest, purchased prior to December 12, 2023 (``Covered Debt 
or Equity''), to a non-U.S. person are authorized through 12:01 a.m. 
eastern daylight time, March 11, 2024.
    (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, December 12, 2023 are authorized through 12:01 a.m. eastern 
daylight time, March 11, 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, December 12, 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 daylight time, March 11, 
2024, provided that any payments to a blocked person are made into a 
blocked account in accordance with the Russian Harmful Foreign

[[Page 80741]]

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: December 12, 2023.

Lisa M. Palluconi,
Acting Deputy Director, Office of Foreign Assets Control.
[FR Doc. 2024-22934 Filed 10-3-24; 8:45 am]
BILLING CODE 4810-AL-P