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[Federal Register Volume 89, Number 220 (Thursday, November 14, 2024)]
[Rules and Regulations]
[Pages 89926-89928]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-26229]

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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 8K, 25G, 110, 111, and 112

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 five general licenses (GLs) issued 
pursuant to the Russian Harmful Foreign Activities Sanctions 
Regulations: GLs 8K, 25G, 110, 111, and 112, each of which was 
previously made available on OFAC's website.

DATES: GLs 8K, 25G, 110, 111, and 112 were issued on October 30, 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 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 October 30, 2024, OFAC issued GLs 8K, 25G, 110, 111, and 112 to 
authorize certain transactions otherwise prohibited by the Russian 
Harmful Foreign Activities Sanctions Regulations, 31 CFR part 587. Each 
GL was made available on OFAC's website (https://ofac.treasury.gov) 
when it was issued. GL 8K replaced and superseded GL 8J. GL 25G 
replaced and superseded GL 25F. The text of these GL is provided below.

OFFICE OF FOREIGN ASSETS CONTROL

Russian Harmful Foreign Activities Sanctions Regulations

31 CFR Part 587

GENERAL LICENSE NO. 8K

Authorizing Transactions Related to Energy

    (a) Except as provided in paragraph (c) of this general license, 
all transactions prohibited by Executive Order (E.O.) 14024 
involving one or more of the following entities that are related to 
energy are authorized, through 12:01 a.m. eastern daylight time, 
April 30, 2025:
    (1) State Corporation Bank for Development and Foreign Economic 
Affairs Vnesheconombank;
    (2) Public Joint Stock Company Bank Financial Corporation 
Otkritie;
    (3) Sovcombank Open Joint Stock Company;
    (4) Public Joint Stock Company Sberbank of Russia;
    (5) VTB Bank Public Joint Stock Company;
    (6) Joint Stock Company Alfa-Bank;

[[Page 89927]]

    (7) Public Joint Stock Company Rosbank;
    (8) Bank Zenit Public Joint Stock Company;
    (9) Bank Saint-Petersburg Public Joint Stock Company;
    (10) National Clearing Center (NCC);
    (11) 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; or
    (12) the Central Bank of the Russian Federation.
    (b) For the purposes of this general license, the term ``related 
to energy'' means the extraction, production, refinement, 
liquefaction, gasification, regasification, conversion, enrichment, 
fabrication, transport, or purchase of petroleum, including crude 
oil, lease condensates, unfinished oils, natural gas liquids, 
petroleum products, natural gas, or other products capable of 
producing energy, such as coal, wood, or agricultural products used 
to manufacture biofuels, or uranium in any form, as well as the 
development, production, generation, transmission, or exchange of 
power, through any means, including nuclear, thermal, and renewable 
energy sources.
    (c) This general license does not authorize:
    (1) Any transactions prohibited by Directive 1A under E.O. 
14024, Prohibitions Related to Certain Sovereign Debt of the Russian 
Federation;
    (2) The opening or maintaining of a correspondent account or 
payable-through account for or on behalf of any entity subject to 
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 debit to an account on the books of a U.S. financial 
institution of the Central Bank 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 persons described in paragraph (a) of 
this general license, unless separately authorized.
    (d) Effective October 30, 2024, General License No. 8J, dated 
June 12, 2024, is replaced and superseded in its entirety by this 
General License No. 8K.

    Note to General License No. 8K. This authorization is valid 
until April 30, 2025, unless renewed.

Lisa M. Palluconi,
Acting Director, Office of Foreign Assets Control.

Dated: October 30, 2024.

OFFICE OF FOREIGN ASSETS CONTROL

Russian Harmful Foreign Activities Sanctions Regulations

31 CFR Part 587

GENERAL LICENSE NO. 25G

Authorizing Transactions Related to Telecommunications and Certain 
Internet-Based Communications

    (a) Except as provided in paragraph (d) of this general license, 
all transactions ordinarily incident and necessary to the receipt or 
transmission of telecommunications involving the Russian Federation 
that are prohibited by the Russian Harmful Foreign Activities 
Sanctions Regulations, 31 CFR part 587 (RuHSR), are authorized.
    (b) Except as provided in paragraph (d) of this general license, 
the exportation or reexportation, sale, or supply, directly or 
indirectly, from the United States or by U.S. persons, wherever 
located, to the Russian Federation of services incident to the 
exchange of communications over the internet, such as instant 
messaging, chat and email, social networking, sharing of photos and 
movies, web browsing, blogging, social media platforms, 
collaboration platforms, video conferencing, e-gaming, e-learning 
platforms, automated translation, web maps, user authentication 
services, web hosting, and domain name registration services, that 
is prohibited by the RuHSR, is authorized.
    (c) Except as provided in paragraph (d) of this general license, 
the exportation or reexportation, sale, or supply, directly or 
indirectly, from the United States or by U.S. persons, to the 
Russian Federation of software, hardware, or technology incident to 
the exchange of communications over the internet is authorized, 
provided that:
    (1) If the software, hardware, or technology is subject to the 
Export Administration Regulations, 15 CFR parts 730 through 774 
(EAR), the exportation, reexportation, sale, or supply to the 
Russian Federation of such software, hardware, or technology is 
licensed or otherwise authorized by the Department of Commerce 
pursuant to the EAR; and
    (2) If the software, hardware, or technology is not subject to 
the EAR, the exportation, reexportation, sale, or supply to the 
Russian Federation of such software, hardware, or technology would 
be eligible for a license exception or otherwise authorized by the 
Department of Commerce if it were subject to the EAR.
    (d) This general license does not authorize:
    (1) The opening or maintaining of a correspondent account or 
payable-through account for or on behalf of any entity subject to 
Directive 2 under Executive Order (E.O.) 14024, Prohibitions Related 
to Correspondent or Payable-Through Accounts and Processing of 
Transactions Involving Certain Foreign Financial Institutions;
    (2) Any debit to an account on the books of a U.S. financial 
institution of the Central Bank of the Russian Federation, the 
National Wealth Fund of the Russian Federation, or the Ministry of 
Finance of the Russian Federation;
    (3) Any transactions prohibited by E.O. 14066 or E.O. 14068; or
    (4) Any transactions prohibited by the RuHSR involving one or 
more of the following entities, unless separately authorized:
    (i) Joint Stock Company Channel One Russia;
    (ii) Joint Stock Company NTV Broadcasting Company;
    (iii) Television Station Russia-1;
    (iv) Limited Liability Company Algoritm;
    (v) New Eastern Outlook;
    (vi) Oriental Review;
    (vii) Garantex Europe OU;
    (viii) Autonomous Non-Profit Organization Dialog;
    (ix) Autonomous Non-Profit Organization Dialog Regions;
    (x) Federal State Unitary Enterprise International Information 
Agency Rossiya Segodnya;
    (xi) Autonomous Non Profit Organization TV Novosti;
    (xii) XH Smart Tech China Co Ltd; or
    (xiii) CJSC Perspective Technologies Agency.
    (e) Effective October 30, 2024, General License No. 25F, dated 
September 13, 2024, is replaced and superseded in its entirety by 
this General License No. 25G.

    Note to General License No. 25G. Nothing in this general license 
relieves any person from compliance with any other Federal laws or 
requirements of other Federal agencies, including export, reexport, 
and transfer (in-country) licensing requirements maintained by the 
Department of Commerce's Bureau of Industry and Security under the 
EAR.

Lisa M. Palluconi,
Acting Director, Office of Foreign Assets Control.

Dated: October 30, 2024.

OFFICE OF FOREIGN ASSETS CONTROL

Russian Harmful Foreign Activities Sanctions Regulations

31 CFR Part 587

GENERAL LICENSE NO. 110

Authorizing the Wind Down of Transactions Involving Certain Entities 
Blocked on October 30, 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 standard time, December 
14, 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) XH Smart Tech China Co Ltd;
    (2) Lokesh Machines Limited;
    (3) Galaxy Bearings Ltd;
    (4) Orbit Fintrade LLP;
    (5) Wuhan Huazhong Numerical Control Co Ltd;
    (6) Beijing Dynamic Power Co Limited;
    (7) Sharpline Automation Private Limited; or
    (8) 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

[[Page 89928]]

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.

Lisa M. Palluconi,
Acting Director, Office of Foreign Assets Control.

Dated: October 30, 2024.

OFFICE OF FOREIGN ASSETS CONTROL

Russian Harmful Foreign Activities Sanctions Regulations

31 CFR Part 587

GENERAL LICENSE NO. 111

Authorizing Certain Transactions Related to Debt or Equity of, or 
Derivative Contracts Involving, Certain Entities Blocked on October 30, 
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 standard time, December 14, 2024:
    (1) XH Smart Tech China Co Ltd;
    (2) Lokesh Machines Limited;
    (3) Galaxy Bearings Ltd;
    (4) Beijing Dynamic Power Co Limited;
    (5) Wuhan Huazhong Numerical Control Co Ltd; or
    (6) 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 daylight time, October 30, 2024 are authorized through 12:01 
a.m. eastern standard time, December 14, 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 daylight time, October 30, 
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 standard 
time, December 14, 2024, provided that any payments to a blocked 
person are made into a blocked account in accordance with the 
Russian 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.

Lisa M. Palluconi,
Acting Director, Office of Foreign Assets Control.

Dated: October 30, 2024.

OFFICE OF FOREIGN ASSETS CONTROL

Russian Harmful Foreign Activities Sanctions Regulations

31 CFR Part 587

GENERAL LICENSE NO. 112

Authorizing Civil Aviation Safety and Wind Down Transactions Involving 
Shaurya Aeronautics Private Limited

    (a) Except as provided in paragraph (c), all transactions 
prohibited by Executive Order (E.O.) 14024 that are ordinarily 
incident and necessary to the provision, exportation, or 
reexportation of goods, technology, or services to ensure the safety 
of civil aviation involving Shaurya Aeronautics Private Limited 
(Shaurya), or any entity in which Shaurya owns, directly or 
indirectly, a 50 percent or greater interest (collectively, the 
``Blocked Persons''), are authorized through 12:01 a.m. eastern 
standard time, December 14, 2024, provided that the goods, 
technology, or services that are provided, exported, or reexported 
are for use on aircraft operated solely for civil aviation purposes.
    (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 wind down of any transaction involving 
the Blocked Persons, are authorized through 12:01 a.m. eastern 
standard time, December 14, 2024, provided that any payment to the 
Blocked Persons must be made into a blocked account in accordance 
with the Russian Harmful Foreign Activities Sanctions Regulations, 
31 CFR part 587 (RuHSR).
    (c) 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 Blocked Persons described in paragraphs (a) and (b) 
of this general license, unless separately authorized.
    Note to General License 112. Nothing in this general license 
relieves any person from compliance with any other Federal laws or 
requirements of other Federal agencies, including export, reexport, 
and transfer (in-country) licensing requirements maintained by the 
Department of Commerce's Bureau of Industry and Security under the 
Export Administration Regulations, 15 CFR parts 730-774.

Lisa M. Palluconi,
Acting Director, Office of Foreign Assets Control.

Dated: October 30, 2024.

Lisa M. Palluconi,
Acting Director, Office of Foreign Assets Control.
[FR Doc. 2024-26229 Filed 11-13-24; 8:45 am]
BILLING CODE 4810-AL-P
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