Federal Register / Vol. 87, No. 40 / Tuesday, March 1, 2022 / Rules and Regulations 11297 

PART 300—USER FEES 

■ Paragraph 1. The authority citation 

for part 300 continues to read as 

follows: 

Authority: 31 U.S.C. 9701. 

§ 300.0 [Amended] 

■ Par. 2. Section 300.0 is amended by 

removing paragraph (b)(9) and 

redesignating paragraphs (b)(10) through 

(13) as paragraphs (b)(9) through (12). 

■ Par. 3. Section 300.4 is amended by 

revising paragraphs (b) and (d) to read 

as follows: 

§ 300.4 Enrolled agent special enrollment 

examination fee. 

* * * * * 

(b) Fee. The fee for taking the enrolled 

agent special enrollment examination is 

$99 per part, which is the cost to the 

government for overseeing the 

development and administration of the 

examination and is in addition to the 

fees charged by the administrator of the 

examination. 

* * * * * 

(d) Applicability date. This section 

applies to registrations for the enrolled 

agent special enrollment examination 

that occur on or after March 31, 2022. 

§ 300.9 [Removed] 

■ Par. 4. Section 300.9 is removed. 

§ § 300.10 through 300.13 [Redesignated 

as §§ 300.09 through 300.12] 

■ Par. 5. Redesignate §§ 300.10 through 

300.13 as §§ 300.09 through 300.12. 

Douglas W. O’Donnell, 

Deputy Commissioner for Services and 

Enforcement. 

Approved: February 24, 2022. 

Thomas C. West, Jr., 

Deputy Assistant Secretary of the Treasury 

(Tax Policy). 

[FR Doc. 2022–04302 Filed 2–25–22; 11:15 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Office of Foreign Assets Control 

31 CFR Part 587 

Russian Harmful Foreign Activities 

Sanctions Regulations 

AGENCY: Office of Foreign Assets 

Control, Treasury. 

ACTION: Final rule. 

SUMMARY: The Department of the 

Treasury’s Office of Foreign Assets 

Control (OFAC) is adding regulations to 

implement an April 15, 2021 Russiarelated Executive order. OFAC intends 

to supplement these regulations with a 

more comprehensive set of regulations, 

which may include additional 

interpretive guidance and definitions, 

general licenses, and other regulatory 

provisions. 

DATES: This rule is effective March 1, 

2022. 

FOR FURTHER INFORMATION CONTACT: 

OFAC: Assistant Director for Licensing, 

202–622–2480; Assistant Director for 

Regulatory Affairs, 202–622–4855; or 

Assistant Director for Sanctions 

Compliance & Evaluation, 202–622– 

2490. 

SUPPLEMENTARY INFORMATION: 

Electronic Availability 

This document and additional 

information concerning OFAC are 

available on OFAC’s website: 

www.treas.gov/ofac. 

Background 

On April 15, 2021, the President, 

invoking the authority of, inter alia, the 

International Emergency Economic 

Powers Act (50 U.S.C. 1701 et seq.) 

(IEEPA), issued Executive Order (E.O.) 

14024, ‘‘Blocking Property With Respect 

To Specified Harmful Foreign Activities 

of the Government of the Russian 

Federation’’ (86 FR 20249, April 19, 

2021). 

In E.O. 14024, the President found 

that specified harmful foreign activities 

of the Government of the Russian 

Federation—in particular, efforts to 

undermine the conduct of free and fair 

democratic elections and democratic 

institutions in the United States and its 

allies and partners; to engage in and 

facilitate malicious cyber-enabled 

activities against the United States and 

its allies and partners; to foster and use 

transnational corruption to influence 

foreign governments; to pursue 

extraterritorial activities targeting 

dissidents or journalists; to undermine 

security in countries and regions 

important to United States national 

security; and to violate well-established 

principles of international law, 

including respect for the territorial 

integrity of states—constitute an 

unusual and extraordinary threat to the 

national security, foreign policy, and 

economy of the United States and 

declared a national emergency to deal 

with that threat. 

OFAC is issuing the Russian Harmful 

Foreign Activities Sanctions 

Regulations, 31 CFR part 587 (the 

‘‘Regulations’’), to implement E.O. 

14024, pursuant to authorities delegated 

to the Secretary of the Treasury in E.O. 

14024. A copy of E.O. 14024 appears in 

appendix A to this part. 

The Regulations are being published 

in abbreviated form at this time for the 

purpose of providing immediate 

guidance to the public. OFAC intends to 

supplement this part 587 with a more 

comprehensive set of regulations, which 

may include additional interpretive 

guidance and definitions, general 

licenses, and other regulatory 

provisions. The appendix to the 

Regulations will be removed when 

OFAC supplements this part with a 

more comprehensive set of regulations. 

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 collections of information related 

to the Regulations are contained in 31 

CFR part 501 (the ‘‘Reporting, 

Procedures and Penalties Regulations’’). 

Pursuant to the Paperwork Reduction 

Act of 1995 (44 U.S.C. 3507), those 

collections of information have been 

approved by the Office of Management 

and Budget under control number 1505– 

0164. An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

unless the collection of information 

displays a valid control number. 

List of Subjects in 31 CFR Part 587 

Administrative practice and 

procedure, Banks, banking, Blocking of 

assets, Foreign trade, Penalties, 

Reporting and recordkeeping 

requirements, Russia, Sanctions, 

Services. 

■ For the reasons set forth in the 

preamble, OFAC adds part 587 to 31 

CFR chapter V to read as follows: 

PART 587—RUSSIAN HARMFUL 

FOREIGN ACTIVITIES SANCTIONS 

REGULATIONS 

Subpart A—Relation of This Part to Other 

Laws and Regulations 

Sec. 

587.101 Relation of this part to other laws 

and regulations. 

Subpart B—Prohibitions 

587.201 Prohibited transactions. 

587.202 Effect of transfers violating the 

provisions of this part. 


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587.203 Holding of funds in interestbearing accounts; investment and 

reinvestment. 

587.204 Expenses of maintaining blocked 

tangible property; liquidation of blocked 

property. 

587.205 Exempt transactions. 

Subpart C—General Definitions 

587.300 Applicability of definitions. 

587.301 Blocked account; blocked property. 

587.302 Effective date. 

587.303 Entity. 

587.304 Financial, material, or 

technological support. 

587.305 Government of the Russian 

Federation. 

587.306 [Reserved] 

587.307 Interest. 

587.308 Licenses; general and specific. 

587.309 OFAC. 

587.310 Person. 

587.311 Property; property interest. 

587.312 Transfer. 

587.313 United States. 

587.314 United States person; U.S. person. 

587.315 U.S. financial institution. 

Subpart D—Interpretations 

587.401 [Reserved] 

587.402 Effect of amendment. 

587.403 Termination and acquisition of an 

interest in blocked property. 

587.404 Transactions ordinarily incident to 

a licensed transaction. 

587.405 Setoffs prohibited. 

587.406 Entities owned by one or more 

persons whose property and interests in 

property are blocked. 

Subpart E—Licenses, Authorizations, and 

Statements of Licensing Policy 

587.501 General and specific licensing 

procedures. 

587.502 [Reserved] 

587.503 Exclusion from licenses. 

587.504 Payments and transfers to blocked 

accounts in U.S. financial institutions. 

587.505 Entries in certain accounts for 

normal service charges. 

587.506 Provision of certain legal services. 

587.507 Payments for legal services from 

funds originating outside the United 

States. 

587.508 Emergency medical services. 

587.509 Official business of the United 

States Government. 

587.510 Official business of certain 

international organizations and entities. 

Subpart F—Reports 

587.601 Records and reports. 

Subpart G—Penalties and Findings of 

Violation 

587.701 Penalties and Findings of 

Violation. 

Subpart H—Procedures 

587.801 Procedures. 

587.802 Delegation of certain authorities of 

the Secretary of the Treasury. 

Subpart I—Paperwork Reduction Act 

587.901 Paperwork Reduction Act notice. 

Appendix A to Part 587—Executive 

Order 14024 of April 15, 2021 

Authority: 3 U.S.C. 301; 31 U.S.C. 321(b); 

50 U.S.C. 1601–1651, 1701–1706; Pub. L. 

101–410, 104 Stat. 890, as amended (28 

U.S.C. 2461 note); E.O. 14024, 86 FR 20249, 

April 19, 2021. 

Subpart A—Relation of This Part to 

Other Laws and Regulations 

§ 587.101 Relation of this part to other 

laws and regulations. 

This part is separate from, and 

independent of, the other parts of this 

chapter, with the exception of part 501 

of this chapter, the recordkeeping and 

reporting requirements and license 

application and other procedures of 

which apply to this part. Actions taken 

pursuant to part 501 of this chapter with 

respect to the prohibitions contained in 

this part are considered actions taken 

pursuant to this part. Differing foreign 

policy and national security 

circumstances may result in differing 

interpretations of similar language 

among the parts of this chapter. No 

license or authorization contained in or 

issued pursuant to those other parts 

authorizes any transaction prohibited by 

this part. No license or authorization 

contained in or issued pursuant to any 

other provision of law or regulation 

authorizes any transaction prohibited by 

this part. No license or authorization 

contained in or issued pursuant to this 

part relieves the involved parties from 

complying with any other applicable 

laws or regulations. 

Note 1 to § 587.101. This part has been 

published in abbreviated form for the 

purpose of providing immediate guidance to 

the public. OFAC intends to supplement this 

part with a more comprehensive set of 

regulations, which may include additional 

interpretive guidance and definitions, general 

licenses, and other regulatory provisions. 

Subpart B—Prohibitions 

§ 587.201 Prohibited transactions. 

(a) All transactions prohibited 

pursuant to Executive Order (E.O.) 

14024 of April 15, 2021 are prohibited 

pursuant to this part. (b) All transactions prohibited 

pursuant to any further Executive orders 

issued pursuant to the national 

emergency declared in E.O. 14024 are 

prohibited pursuant to this part. 

Note 1 to § 587.201. The names of persons 

designated or identified as blocked pursuant 

to E.O. 14024, or listed in, or designated or 

identified as blocked pursuant to, any further 

Executive orders issued pursuant to the 

national emergency declared therein, whose 

property and interests in property therefore 

are blocked pursuant to this section, are 

published in the Federal Register and 

incorporated into OFAC’s Specially 

Designated Nationals and Blocked Persons 

List (SDN List) using the following identifier 

formulation: ‘‘[RUSSIA–EO[E.O. number 

pursuant to which the person’s property and 

interests in property are blocked]].’’ The SDN 

List is accessible through the following page 

on OFAC’s website: www.treasury.gov/sdn. 

Additional information pertaining to the SDN 

List can be found in appendix A to this 

chapter. See § 587.406 concerning entities 

that may not be listed on the SDN List but 

whose property and interests in property are 

nevertheless blocked pursuant to this section. 

Note 2 to § 587.201. The International 

Emergency Economic Powers Act (50 U.S.C. 

1701 et seq.), in Section 203 (50 U.S.C. 1702), 

authorizes the blocking of property and 

interests in property of a person during the 

pendency of an investigation. The names of 

persons whose property and interests in 

property are blocked pending investigation 

pursuant to this section also are published in 

the Federal Register and incorporated into 

the SDN List using the following identifier 

formulation: ‘‘[BPI–RUSSIA–EO[E.O. number 

pursuant to which the person’s property and 

interests in property are blocked pending 

investigation]].’’ 

Note 3 to § 587.201. Sections 501.806 and 

501.807 of this chapter describe the 

procedures to be followed by persons 

seeking, respectively, the unblocking of 

funds that they believe were blocked due to 

mistaken identity, or administrative 

reconsideration of their status as persons 

whose property and interests in property are 

blocked pursuant to this section. 

§ 587.202 Effect of transfers violating the 

provisions of this part. 

(a) Any transfer after the effective date 

that is in violation of any provision of 

this part or of any regulation, order, 

directive, ruling, instruction, or license 

issued pursuant to this part, and that 

involves any property or interest in 

property blocked pursuant to § 587.201, 

is null and void and shall not be the 

basis for the assertion or recognition of 

any interest in or right, remedy, power, 

or privilege with respect to such 

property or interest in property. 

(b) No transfer before the effective 

date shall be the basis for the assertion 

or recognition of any right, remedy, 

power, or privilege with respect to, or 

any interest in, any property or interest 

in property blocked pursuant to 

§ 587.201, unless the person who holds 

or maintains such property, prior to that 

date, had written notice of the transfer 

or by any written evidence had 

recognized such transfer. 

(c) Unless otherwise provided, a 

license or other authorization issued by 

OFAC before, during, or after a transfer 

shall validate such transfer or make it 

enforceable to the same extent that it 

would be valid or enforceable but for 

the provisions of this part and any 

regulation, order, directive, ruling, 

instruction, or license issued pursuant 

to this part. 


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(d) Transfers of property that 

otherwise would be null and void or 

unenforceable by virtue of the 

provisions of this section shall not be 

deemed to be null and void or 

unenforceable as to any person with 

whom such property is or was held or 

maintained (and as to such person only) 

in cases in which such person is able to 

establish to the satisfaction of OFAC 

each of the following: 

(1) Such transfer did not represent a 

willful violation of the provisions of this 

part by the person with whom such 

property is or was held or maintained 

(and as to such person only); 

(2) The person with whom such 

property is or was held or maintained 

did not have reasonable cause to know 

or suspect, in view of all the facts and 

circumstances known or available to 

such person, that such transfer required 

a license or authorization issued 

pursuant to this part and was not so 

licensed or authorized, or, if a license or 

authorization did purport to cover the 

transfer, that such license or 

authorization had been obtained by 

misrepresentation of a third party or 

withholding of material facts or was 

otherwise fraudulently obtained; and 

(3) The person with whom such 

property is or was held or maintained 

filed with OFAC a report setting forth in 

full the circumstances relating to such 

transfer promptly upon discovery that: 

(i) Such transfer was in violation of 

the provisions of this part or any 

regulation, ruling, instruction, license, 

or other directive or authorization 

issued pursuant to this part; 

(ii) Such transfer was not licensed or 

authorized by OFAC; or 

(iii) If a license did purport to cover 

the transfer, such license had been 

obtained by misrepresentation of a third 

party or withholding of material facts or 

was otherwise fraudulently obtained. 

(e) The filing of a report in accordance 

with the provisions of paragraph (d)(3) 

of this section shall not be deemed 

evidence that the terms of paragraphs 

(d)(1) and (2) of this section have been 

satisfied. 

(f) Unless licensed pursuant to this 

part, any attachment, judgment, decree, 

lien, execution, garnishment, or other 

judicial process is null and void with 

respect to any property or interest in 

property blocked pursuant to § 587.201. 

§ 587.203 Holding of funds in interestbearing accounts; investment and 

reinvestment. 

(a) Except as provided in paragraph 

(e) or (f) of this section, or as otherwise 

directed or authorized by OFAC, any 

U.S. person holding funds, such as 

currency, bank deposits, or liquidated 

financial obligations, subject to 

§ 587.201 shall hold or place such funds 

in a blocked interest-bearing account 

located in the United States. 

(b)(1) For the purposes of this section, 

the term blocked interest-bearing 

account means a blocked account: 

(i) In a federally insured U.S. bank, 

thrift institution, or credit union, 

provided the funds are earning interest 

at rates that are commercially 

reasonable; or 

(ii) With a broker or dealer registered 

with the Securities and Exchange 

Commission under the Securities 

Exchange Act of 1934 (15 U.S.C. 78a et 

seq.), provided the funds are invested in 

a money market fund or in U.S. 

Treasury bills. 

(2) Funds held or placed in a blocked 

account pursuant to paragraph (a) of this 

section may not be invested in 

instruments the maturity of which 

exceeds 180 days. 

(c) For the purposes of this section, a 

rate is commercially reasonable if it is 

the rate currently offered to other 

depositors on deposits or instruments of 

comparable size and maturity. 

(d) For the purposes of this section, if 

interest is credited to a separate blocked 

account or subaccount, the name of the 

account party on each account must be 

the same. 

(e) Blocked funds held in instruments 

the maturity of which exceeds 180 days 

at the time the funds become subject to 

§ 587.201 may continue to be held until 

maturity in the original instrument, 

provided any interest, earnings, or other 

proceeds derived therefrom are paid 

into a blocked interest-bearing account 

in accordance with paragraph (a) or (f) 

of this section. 

(f) Blocked funds held in accounts or 

instruments outside the United States at 

the time the funds become subject to 

§ 587.201 may continue to be held in the 

same type of accounts or instruments, 

provided the funds earn interest at rates 

that are commercially reasonable. 

(g) This section does not create an 

affirmative obligation for the holder of 

blocked tangible property, such as real 

or personal property, or of other blocked 

property, such as debt or equity 

securities, to sell or liquidate such 

property. However, OFAC may issue 

licenses permitting or directing such 

sales or liquidation in appropriate cases. 

(h) Funds subject to this section may 

not be held, invested, or reinvested in 

a manner that provides financial or 

economic benefit or access to any 

person whose property and interests in 

property are blocked pursuant to 

§ 587.201, nor may their holder 

cooperate in or facilitate the pledging or 

other attempted use as collateral of 

blocked funds or other assets. 

§ 587.204 Expenses of maintaining 

blocked tangible property; liquidation of 

blocked property. 

(a) Except as otherwise authorized, 

and notwithstanding the existence of 

any rights or obligations conferred or 

imposed by any international agreement 

or contract entered into or any license 

or permit granted prior to the effective 

date, all expenses incident to the 

maintenance of tangible property 

blocked pursuant to § 587.201 shall be 

the responsibility of the owners or 

operators of such property, which 

expenses shall not be met from blocked 

funds. 

(b) Property blocked pursuant to 

§ 587.201 may, in the discretion of 

OFAC, be sold or liquidated and the net 

proceeds placed in a blocked interestbearing account in the name of the 

owner of the property. 

§ 587.205 Exempt transactions. 

(a) Personal communications. The 

prohibitions contained in this part do 

not apply to any postal, telegraphic, 

telephonic, or other personal 

communication that does not involve 

the transfer of anything of value. 

(b) Official business. The prohibitions 

contained in § 587.201(a) do not apply 

to transactions for the conduct of the 

official business of the United States 

Government or the United Nations 

(including its Specialized Agencies, 

Programmes, Funds, and Related 

Organizations) by employees, grantees, 

or contractors thereof. 

Subpart C—General Definitions 

§ 587.300 Applicability of definitions. 

The definitions in this subpart apply 

throughout the entire part. 

§ 587.301 Blocked account; blocked 

property. 

The terms blocked account and 

blocked property mean any account or 

property subject to the prohibitions in 

§ 587.201 held in the name of a person 

whose property and interests in 

property are blocked pursuant to 

§ 587.201, or in which such person has 

an interest, and with respect to which 

payments, transfers, exportations, 

withdrawals, or other dealings may not 

be made or effected except pursuant to 

a license or other authorization from 

OFAC expressly authorizing such 

action. 

Note 1 to § 587.301. See § 587.406 

concerning the blocked status of property 

and interests in property of an entity that is 

directly or indirectly owned, whether 

individually or in the aggregate, 50 percent 


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or more by one or more persons whose 

property and interests in property are 

blocked pursuant to § 587.201. 

§ 587.302 Effective date. 

(a) The term effective date refers to 

the effective date of the applicable 

prohibitions and directives contained in 

this part, and, with respect to a person 

whose property and interests in 

property are blocked pursuant to 

§ 587.201, the earlier of the date of 

actual or constructive notice that such 

person’s property and interests in 

property are blocked. 

(b) For the purposes of this section, 

constructive notice is the date that a 

notice of the blocking of the relevant 

person’s property and interests in 

property is published in the Federal 

Register. 

§ 587.303 Entity. 

The term entity means a partnership, 

association, trust, joint venture, 

corporation, group, subgroup, or other 

organization. 

§ 587.304 Financial, material, or 

technological support. 

The term financial, material, or 

technological support means any 

property, tangible or intangible, 

including currency, financial 

instruments, securities, or any other 

transmission of value; weapons or 

related materiel; chemical or biological 

agents; explosives; false documentation 

or identification; communications 

equipment; computers; electronic or 

other devices or equipment; 

technologies; lodging; safe houses; 

facilities; vehicles or other means of 

transportation; or goods. 

‘‘Technologies’’ as used in this section 

means specific information necessary 

for the development, production, or use 

of a product, including related technical 

data such as blueprints, plans, diagrams, 

models, formulae, tables, engineering 

designs and specifications, manuals, or 

other recorded instructions. 

§ 587.305 Government of the Russian 

Federation. 

The term Government of the Russian 

Federation means the Government of 

the Russian Federation, any political 

subdivision, agency, or instrumentality 

thereof, including the Central Bank of 

the Russian Federation, and any person 

owned, controlled, or directed by, or 

acting for or on behalf of, the 

Government of the Russian Federation. 

§ 587.306 [Reserved] 

§ 587.307 Interest. 

Except as otherwise provided in this 

part, the term interest, when used with 

respect to property (e.g., ‘‘an interest in 

property’’), means an interest of any 

nature whatsoever, direct or indirect. 

§ 587.308 Licenses; general and specific. 

(a) Except as otherwise provided in 

this part, the term license means any 

license or authorization contained in or 

issued pursuant to this part. 

(b) The term general license means 

any license or authorization the terms of 

which are set forth in subpart E of this 

part or made available on OFAC’s 

website: www.treasury.gov/ofac. 

(c) The term specific license means 

any license or authorization issued 

pursuant to this part but not set forth in 

subpart E of this part or made available 

on OFAC’s website: www.treasury.gov/ 

ofac. 

Note 1 to § 587.308. See § 501.801 of this 

chapter on licensing procedures. 

§ 587.309 OFAC. 

The term OFAC means the 

Department of the Treasury’s Office of 

Foreign Assets Control. 

§ 587.310 Person. 

The term person means an individual 

or entity. 

§ 587.311 Property; property interest. 

The terms property and property 

interest include money, checks, drafts, 

bullion, bank deposits, savings 

accounts, debts, indebtedness, 

obligations, notes, guarantees, 

debentures, stocks, bonds, coupons, any 

other financial instruments, bankers 

acceptances, mortgages, pledges, liens 

or other rights in the nature of security, 

warehouse receipts, bills of lading, trust 

receipts, bills of sale, any other 

evidences of title, ownership, or 

indebtedness, letters of credit and any 

documents relating to any rights or 

obligations thereunder, powers of 

attorney, goods, wares, merchandise, 

chattels, stocks on hand, ships, goods on 

ships, real estate mortgages, deeds of 

trust, vendors’ sales agreements, land 

contracts, leaseholds, ground rents, real 

estate and any other interest therein, 

options, negotiable instruments, trade 

acceptances, royalties, book accounts, 

accounts payable, judgments, patents, 

trademarks or copyrights, insurance 

policies, safe deposit boxes and their 

contents, annuities, pooling agreements, 

services of any nature whatsoever, 

contracts of any nature whatsoever, and 

any other property, real, personal, or 

mixed, tangible or intangible, or interest 

or interests therein, present, future, or 

contingent. 

§ 587.312 Transfer. 

The term transfer means any actual or 

purported act or transaction, whether or 

not evidenced by writing, and whether 

or not done or performed within the 

United States, the purpose, intent, or 

effect of which is to create, surrender, 

release, convey, transfer, or alter, 

directly or indirectly, any right, remedy, 

power, privilege, or interest with respect 

to any property. Without limitation on 

the foregoing, it shall include the 

making, execution, or delivery of any 

assignment, power, conveyance, check, 

declaration, deed, deed of trust, power 

of attorney, power of appointment, bill 

of sale, mortgage, receipt, agreement, 

contract, certificate, gift, sale, affidavit, 

or statement; the making of any 

payment; the setting off of any 

obligation or credit; the appointment of 

any agent, trustee, or fiduciary; the 

creation or transfer of any lien; the 

issuance, docketing, filing, or levy of or 

under any judgment, decree, 

attachment, injunction, execution, or 

other judicial or administrative process 

or order, or the service of any 

garnishment; the acquisition of any 

interest of any nature whatsoever by 

reason of a judgment or decree of any 

foreign country; the fulfillment of any 

condition; the exercise of any power of 

appointment, power of attorney, or 

other power; or the acquisition, 

disposition, transportation, importation, 

exportation, or withdrawal of any 

security. 

§ 587.313 United States. 

The term United States means the 

United States, its territories and 

possessions, and all areas under the 

jurisdiction or authority thereof. 

§ 587.314 United States person; U.S. 

person. 

The term United States person or U.S. 

person means any United States citizen, 

lawful permanent resident, entity 

organized under the laws of the United 

States or any jurisdiction within the 

United States (including foreign 

branches), or any person in the United 

States. 

§ 587.315 U.S. financial institution. 

The term U.S. financial institution 

means any U.S. entity (including its 

foreign branches) that is engaged in the 

business of accepting deposits, making, 

granting, transferring, holding, or 

brokering loans or credits, or purchasing 

or selling foreign exchange, securities, 

futures or options, or procuring 

purchasers and sellers thereof, as 

principal or agent. It includes 

depository institutions, banks, savings 

banks, money services businesses, 


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operators of credit card systems, trust 

companies, insurance companies, 

securities brokers and dealers, futures 

and options brokers and dealers, 

forward contract and foreign exchange 

merchants, securities and commodities 

exchanges, clearing corporations, 

investment companies, employee 

benefit plans, dealers in precious 

metals, stones, or jewels, and U.S. 

holding companies, U.S. affiliates, or 

U.S. subsidiaries of any of the foregoing. 

This term includes those branches, 

offices, and agencies of foreign financial 

institutions that are located in the 

United States, but not such institutions’ 

foreign branches, offices, or agencies. 

Subpart D—Interpretations 

§ 587.401 [Reserved] 

§ 587.402 Effect of amendment. 

Unless otherwise specifically 

provided, any amendment, 

modification, or revocation of any 

provision in or appendix to this part or 

chapter or of any order, regulation, 

ruling, instruction, or license issued by 

OFAC does not affect any act done or 

omitted, or any civil or criminal 

proceeding commenced or pending, 

prior to such amendment, modification, 

or revocation. All penalties, forfeitures, 

and liabilities under any such order, 

regulation, ruling, instruction, or license 

continue and may be enforced as if such 

amendment, modification, or revocation 

had not been made. 

§ 587.403 Termination and acquisition of 

an interest in blocked property. 

(a) Whenever a transaction licensed or 

authorized by or pursuant to this part 

results in the transfer of property 

(including any property interest) away 

from a person whose property and 

interests in property are blocked 

pursuant to § 587.201, such property 

shall no longer be deemed to be 

property blocked pursuant to § 587.201, 

unless there exists in the property 

another interest that is blocked pursuant 

to § 587.201, the transfer of which has 

not been effected pursuant to license or 

other authorization. 

(b) Unless otherwise specifically 

provided in a license or authorization 

issued pursuant to this part, if property 

(including any property interest) is 

transferred or attempted to be 

transferred to a person whose property 

and interests in property are blocked 

pursuant to § 587.201, such property 

shall be deemed to be property in which 

such person has an interest and 

therefore blocked. 

§ 587.404 Transactions ordinarily incident 

to a licensed transaction. 

Any transaction ordinarily incident to 

a licensed transaction and necessary to 

give effect thereto is also authorized, 

except: 

(a) An ordinarily incident transaction, 

not explicitly authorized within the 

terms of the license, by or with a person 

whose property and interests in 

property are blocked pursuant to 

§ 587.201; or 

(b) An ordinarily incident transaction, 

not explicitly authorized within the 

terms of the license, involving a debit to 

a blocked account or a transfer of 

blocked property. 

§ 587.405 Setoffs prohibited. 

A setoff against blocked property 

(including a blocked account), whether 

by a U.S. financial institution or other 

U.S. person, is a prohibited transfer 

under § 587.201 if effected after the 

effective date. 

§ 587.406 Entities owned by one or more 

persons whose property and interests in 

property are blocked. 

Persons whose property and interests 

in property are blocked pursuant to 

§ 587.201 have an interest in all 

property and interests in property of an 

entity in which such persons directly or 

indirectly own, whether individually or 

in the aggregate, a 50 percent or greater 

interest. The property and interests in 

property of such an entity, therefore, are 

blocked, and such an entity is a person 

whose property and interests in 

property are blocked pursuant to 

§ 587.201, regardless of whether the 

name of the entity is incorporated into 

OFAC’s Specially Designated Nationals 

and Blocked Persons List (SDN List). 

Subpart E—Licenses, Authorizations, 

and Statements of Licensing Policy 

§ 587.501 General and specific licensing 

procedures. 

For provisions relating to licensing 

procedures, see part 501, subpart E, of 

this chapter. Licensing actions taken 

pursuant to part 501 of this chapter with 

respect to the prohibitions contained in 

this part are considered actions taken 

pursuant to this part. General licenses 

and statements of licensing policy 

relating to this part also may be 

available through the Russian Harmful 

Foreign Activities sanctions page on 

OFAC’s website: www.treasury.gov/ofac. 

§ 587.502 [Reserved] 

§ 587.503 Exclusion from licenses. 

OFAC reserves the right to exclude 

any person, property, transaction, or 

class thereof from the operation of any 

license or from the privileges conferred 

by any license. OFAC also reserves the 

right to restrict the applicability of any 

license to particular persons, property, 

transactions, or classes thereof. Such 

actions are binding upon actual or 

constructive notice of the exclusions or 

restrictions. 

§ 587.504 Payments and transfers to 

blocked accounts in U.S. financial 

institutions. 

Any payment of funds or transfer of 

credit in which a person whose property 

and interests in property are blocked 

pursuant to § 587.201 has any interest 

that comes within the possession or 

control of a U.S. financial institution 

must be blocked in an account on the 

books of that financial institution. A 

transfer of funds or credit by a U.S. 

financial institution between blocked 

accounts in its branches or offices is 

authorized, provided that no transfer is 

made from an account within the 

United States to an account held outside 

the United States, and further provided 

that a transfer from a blocked account 

may be made only to another blocked 

account held in the same name. 

Note 1 to § 587.504. See § 501.603 of this 

chapter for mandatory reporting 

requirements regarding financial transfers. 

See also § 587.203 concerning the obligation 

to hold blocked funds in interest-bearing 

accounts. 

§ 587.505 Entries in certain accounts for 

normal service charges. 

(a) A U.S. financial institution is 

authorized to debit any blocked account 

held at that financial institution in 

payment or reimbursement for normal 

service charges owed it by the owner of 

that blocked account. 

(b) As used in this section, the term 

normal service charges shall include 

charges in payment or reimbursement 

for interest due; cable, telegraph, 

internet, or telephone charges; postage 

costs; custody fees; small adjustment 

charges to correct bookkeeping errors; 

and, but not by way of limitation, 

minimum balance charges, notary and 

protest fees, and charges for reference 

books, photocopies, credit reports, 

transcripts of statements, registered 

mail, insurance, stationery and supplies, 

and other similar items. 

§ 587.506 Provision of certain legal 

services. 

(a) The provision of the following 

legal services to or on behalf of persons 

whose property and interests in 

property are blocked pursuant to 

§ 587.201 is authorized, provided that 

any receipt of payment of professional 

fees and reimbursement of incurred 


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expenses must be authorized pursuant 

to § 587.507, which authorizes certain 

payments for legal services from funds 

originating outside the United States; 

via specific license; or otherwise 

pursuant to this part: 

(1) Provision of legal advice and 

counseling on the requirements of and 

compliance with the laws of the United 

States or any jurisdiction within the 

United States, provided that such advice 

and counseling are not provided to 

facilitate transactions in violation of this 

part; 

(2) Representation of persons named 

as defendants in or otherwise made 

parties to legal, arbitration, or 

administrative proceedings before any 

U.S. federal, state, or local court or 

agency; 

(3) Initiation and conduct of legal, 

arbitration, or administrative 

proceedings before any U.S. federal, 

state, or local court or agency; 

(4) Representation of persons before 

any U.S. federal, state, or local court or 

agency with respect to the imposition, 

administration, or enforcement of U.S. 

sanctions against such persons; and 

(5) Provision of legal services in any 

other context in which prevailing U.S. 

law requires access to legal counsel at 

public expense. 

(b) The provision of any other legal 

services to or on behalf of persons 

whose property and interests in 

property are blocked pursuant to 

§ 587.201, not otherwise authorized in 

this part, requires the issuance of a 

specific license. 

(c) U.S. persons do not need to obtain 

specific authorization to provide related 

services, such as making filings and 

providing other administrative services, 

that are ordinarily incident to the 

provision of services authorized by this 

section. Additionally, U.S. persons who 

provide services authorized by this 

section do not need to obtain specific 

authorization to contract for related 

services that are ordinarily incident to 

the provision of those legal services, 

such as those provided by private 

investigators or expert witnesses, or to 

pay for such services. See § 587.404. 

(d) Entry into a settlement agreement 

or the enforcement of any lien, 

judgment, arbitral award, decree, or 

other order through execution, 

garnishment, or other judicial process 

purporting to transfer or otherwise alter 

or affect property or interests in 

property blocked pursuant to § 587.201 

is prohibited unless licensed pursuant 

to this part. 

Note 1 to § 587.506. Pursuant to part 501, 

subpart E, of this chapter, U.S. persons 

seeking administrative reconsideration or 

judicial review of their designation or the 

blocking of their property and interests in 

property may apply for a specific license 

from OFAC to authorize the release of certain 

blocked funds for the payment of 

professional fees and reimbursement of 

incurred expenses for the provision of such 

legal services where alternative funding 

sources are not available. 

§ 587.507 Payments for legal services from 

funds originating outside the United States. 

(a) Professional fees and incurred 

expenses. (1) Receipt of payment of 

professional fees and reimbursement of 

incurred expenses for the provision of 

legal services authorized pursuant to 

§ 587.506(a) to or on behalf of any 

person whose property and interests in 

property are blocked pursuant to 

§ 587.201 is authorized from funds 

originating outside the United States, 

provided that the funds do not originate 

from: 

(i) A source within the United States; 

(ii) Any source, wherever located, 

within the possession or control of a 

U.S. person; or 

(iii) Any individual or entity, other 

than the person on whose behalf the 

legal services authorized pursuant to 

§ 587.506(a) are to be provided, whose 

property and interests in property are 

blocked pursuant to any part of this 

chapter or any Executive order or 

statute. 

(2) Nothing in paragraph (a) of this 

section authorizes payments for legal 

services using funds in which any other 

person whose property and interests in 

property are blocked pursuant to 

§ 587.201, any other part of this chapter, 

or any Executive order or statute has an 

interest. 

(b) Reports. (1) U.S. persons who 

receive payments pursuant to paragraph 

(a) of this section must submit annual 

reports no later than 30 days following 

the end of the calendar year during 

which the payments were received 

providing information on the funds 

received. Such reports shall specify: 

(i) The individual or entity from 

whom the funds originated and the 

amount of funds received; and 

(ii) If applicable: 

(A) The names of any individuals or 

entities providing related services to the 

U.S. person receiving payment in 

connection with authorized legal 

services, such as private investigators or 

expert witnesses; 

(B) A general description of the 

services provided; and 

(C) The amount of funds paid in 

connection with such services. 

(2) The reports, which must reference 

this section, are to be submitted to 

OFAC using one of the following 

methods: 

(i) Email (preferred method): 

OFACReport@treasury.gov; or 

(ii) U.S. mail: OFAC Regulations 

Reports, Office of Foreign Assets 

Control, U.S. Department of the 

Treasury, 1500 Pennsylvania Avenue 

NW, Freedman’s Bank Building, 

Washington, DC 20220. 

§ 587.508 Emergency medical services. 

The provision and receipt of 

nonscheduled emergency medical 

services that are prohibited by this part 

are authorized. 

§ 587.509 Official business of the United 

States Government. 

All transactions prohibited by this 

part that are for the conduct of the 

official business of the United States 

Government by employees, grantees, or 

contractors thereof are authorized. 

§ 587.510 Official business of certain 

international organizations and entities. 

All transactions prohibited by this 

part that are for the conduct of the 

official business of the following entities 

by employees, grantees, or contractors 

thereof are authorized: 

(a) The United Nations, including its 

Programmes, Funds, and Other Entities 

and Bodies, as well as its Specialized 

Agencies and Related Organizations; 

(b) The International Centre for 

Settlement of Investment Disputes 

(ICSID) and the Multilateral Investment 

Guarantee Agency (MIGA); 

(c) The African Development Bank 

Group, the Asian Development Bank, 

the European Bank for Reconstruction 

and Development, and the InterAmerican Development Bank Group 

(IDB Group), including any fund entity 

administered or established by any of 

the foregoing; and 

(d) The International Committee of 

the Red Cross and the International 

Federation of Red Cross and Red 

Crescent Societies. 

Subpart F—Reports 

§ 587.601 Records and reports. 

For provisions relating to required 

records and reports, see part 501, 

subpart C, of this chapter. 

Recordkeeping and reporting 

requirements imposed by part 501 of 

this chapter with respect to the 

prohibitions contained in this part are 

considered requirements arising 

pursuant to this part. 

Subpart G—Penalties and Findings of 

Violation 

§ 587.701 Penalties and Findings of 

Violation. 

(a) The penalties available under 

section 206 of the International 


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Emergency Economic Powers Act (50 

U.S.C. 1701 et seq.) (IEEPA), as adjusted 

annually pursuant to the Federal Civil 

Penalties Inflation Adjustment Act of 

1990 (Pub. L. 101–410, as amended, 28 

U.S.C. 2461 note) or, in the case of 

criminal violations, as adjusted 

pursuant to 18 U.S.C. 3571, are 

applicable to violations of the 

provisions of this part. 

(b) OFAC has the authority, pursuant 

to IEEPA, to issue Pre-Penalty Notices, 

Penalty Notices, and Findings of 

Violation; impose monetary penalties; 

engage in settlement discussions and 

enter into settlements; refer matters to 

the United States Department of Justice 

for administrative collection; and, in 

appropriate circumstances, refer matters 

to appropriate law enforcement agencies 

for criminal investigation and/or 

prosecution. For more information, see 

appendix A to part 501 of this chapter, 

which provides a general framework for 

the enforcement of all economic 

sanctions programs administered by 

OFAC, including enforcement-related 

definitions, types of responses to 

apparent violations, general factors 

affecting administrative actions, civil 

penalties for failure to comply with a 

requirement to furnish information or 

keep records, and other general civil 

penalties information. 

Subpart H—Procedures 

§ 587.801 Procedures. 

For license application procedures 

and procedures relating to amendments, 

modifications, or revocations of 

licenses; administrative decisions; 

rulemaking; and requests for documents 

pursuant to the Freedom of Information 

and Privacy Acts (5 U.S.C. 552 and 

552a), see part 501, subpart E, of this 

chapter. 

§ 587.802 Delegation of certain authorities 

of the Secretary of the Treasury. 

Any action that the Secretary of the 

Treasury is authorized to take pursuant 

to Executive Order 14024 of April 15, 

2021, and any further Executive orders 

issued pursuant to the national 

emergency declared therein, may be 

taken by the Director of OFAC or by any 

other person to whom the Secretary of 

the Treasury has delegated authority so 

to act. 

Subpart I—Paperwork Reduction Act 

§ 587.901 Paperwork Reduction Act notice. 

For approval by the Office of 

Management and Budget (OMB) under 

the Paperwork Reduction Act of 1995 

(44 U.S.C. 3507) of information 

collections relating to recordkeeping 

and reporting requirements, licensing 

procedures, and other procedures, see 

§ 501.901 of this chapter. An agency 

may not conduct or sponsor, and a 

person is not required to respond to, a 

collection of information unless it 

displays a valid control number 

assigned by OMB. 

Appendix A to Part 587—Executive 

Order 14024 of April 15, 2021 

Executive Order 14024 of April 15, 2021 

Blocking Property With Respect To Specified 

Harmful Foreign Activities of the 

Government of the Russian Federation. 

By the authority vested in me as President 

by the Constitution and the laws of the 

United States of America, including the 

International Emergency Economic Powers 

Act (50 U.S.C. 1701 et seq.) (IEEPA), the 

National Emergencies Act (50 U.S.C. 1601 et 

seq.) (NEA), section 212(f) of the Immigration 

and Nationality Act of 1952 (8 U.S.C. 

1182(f)), and section 301 of title 3, United 

States Code, 

I, JOSEPH R. BIDEN JR., President of the 

United States of America, find that specified 

harmful foreign activities of the Government 

of the Russian Federation—in particular, 

efforts to undermine the conduct of free and 

fair democratic elections and democratic 

institutions in the United States and its allies 

and partners; to engage in and facilitate 

malicious cyber-enabled activities against the 

United States and its allies and partners; to 

foster and use transnational corruption to 

influence foreign governments; to pursue 

extraterritorial activities targeting dissidents 

or journalists; to undermine security in 

countries and regions important to United 

States national security; and to violate wellestablished principles of international law, 

including respect for the territorial integrity 

of states—constitute an unusual and 

extraordinary threat to the national security, 

foreign policy, and economy of the United 

States. I hereby declare a national emergency 

to deal with that threat. 

Accordingly, I hereby order: 

Section 1. All property and interests in 

property that are in the United States, that 

hereafter come within the United States, or 

that are or hereafter come within the 

possession or control of any United States 

person of the following persons are blocked 

and may not be transferred, paid, exported, 

withdrawn, or otherwise dealt in: 

(a) Any person determined by the Secretary 

of the Treasury, in consultation with the 

Secretary of State, and, with respect to 

subsection (a)(ii) of this section, in 

consultation with the Attorney General, or by 

the Secretary of State, in consultation with 

the Secretary of the Treasury, and, with 

respect to subsection (a)(ii) of this section, in 

consultation with the Attorney General: 

(i) To operate or have operated in the 

technology sector or the defense and related 

materiel sector of the Russian Federation 

economy, or any other sector of the Russian 

Federation economy as may be determined 

by the Secretary of the Treasury, in 

consultation with the Secretary of State; 

(ii) to be responsible for or complicit in, or 

to have directly or indirectly engaged or 

attempted to engage in, any of the following 

for or on behalf of, or for the benefit of, 

directly or indirectly, the Government of the 

Russian Federation: 

(A) Malicious cyber-enabled activities; 

(B) interference in a United States or other 

foreign government election; 

(C) actions or policies that undermine 

democratic processes or institutions in the 

United States or abroad; 

(D) transnational corruption; 

(E) assassination, murder, or other 

unlawful killing of, or infliction of other 

bodily harm against, a United States person 

or a citizen or national of a United States ally 

or partner; 

(F) activities that undermine the peace, 

security, political stability, or territorial 

integrity of the United States, its allies, or its 

partners; or 

(G) deceptive or structured transactions or 

dealings to circumvent any United States 

sanctions, including through the use of 

digital currencies or assets or the use of 

physical assets; 

(iii) to be or have been a leader, official, 

senior executive officer, or member of the 

board of directors of: 

(A) The Government of the Russian 

Federation; 

(B) an entity that has, or whose members 

have, engaged in any activity described in 

subsection (a)(ii) of this section; or 

(C) an entity whose property and interests 

in property are blocked pursuant to this 

order; 

(iv) to be a political subdivision, agency, or 

instrumentality of the Government of the 

Russian Federation; 

(v) to be a spouse or adult child of any 

person whose property and interests in 

property are blocked pursuant to subsection 

(a)(ii) or (iii) of this section; 

(vi) to have materially assisted, sponsored, 

or provided financial, material, or 

technological support for, or goods or 

services to or in support of: 

(A) Any activity described in subsection 

(a)(ii) of this section; or 

(B) any person whose property and 

interests in property are blocked pursuant to 

this order; or 

(vii) to be owned or controlled by, or to 

have acted or purported to act for or on 

behalf of, directly or indirectly, the 

Government of the Russian Federation or any 

person whose property and interests in 

property are blocked pursuant to this order. 

(b) any person determined by the Secretary 

of the Treasury, in consultation with the 

Secretary of State, to have materially assisted, 

sponsored, or provided financial, material, or 

technological support for, or goods or 

services to or in support of, a government 

whose property and interests in property are 

blocked pursuant to chapter V of title 31 of 

the Code of Federal Regulations or another 

Executive Order, and to be: 

(i) A citizen or national of the Russian 

Federation; 

(ii) an entity organized under the laws of 

the Russian Federation or any jurisdiction 

within the Russian Federation (including 

foreign branches); or 

(iii) a person ordinarily resident in the 

Russian Federation. 


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(c) any person determined by the Secretary 

of State, in consultation with the Secretary of 

the Treasury, to be responsible for or 

complicit in, or to have directly or indirectly 

engaged in or attempted to engage in, cutting 

or disrupting gas or energy supplies to 

Europe, the Caucasus, or Asia, and to be: 

(i) An individual who is a citizen or 

national of the Russian Federation; or 

(ii) an entity organized under the laws of 

the Russian Federation or any jurisdiction 

within the Russian Federation (including 

foreign branches). 

(d) The prohibitions in subsections (a), (b), 

and (c) of this section apply except to the 

extent provided by statutes, or in regulations, 

orders, directives, or licenses that may be 

issued pursuant to this order, and 

notwithstanding any contract entered into or 

any license or permit granted before the date 

of this order. 

Sec. 2. The prohibitions in section 1 of this 

order include: 

(a) The making of any contribution or 

provision of funds, goods, or services by, to, 

or for the benefit of any person whose 

property and interests in property are 

blocked pursuant to this order; and 

(b) the receipt of any contribution or 

provision of funds, goods, or services from 

any such person. 

Sec. 3. (a) The unrestricted immigrant and 

nonimmigrant entry into the United States of 

noncitizens determined to meet one or more 

of the criteria in section 1 of this order would 

be detrimental to the interests of the United 

States, and the entry of such persons into the 

United States, as immigrants or 

nonimmigrants, is hereby suspended, except 

when the Secretary of State or the Secretary 

of Homeland Security, as appropriate, 

determines that the person’s entry would not 

be contrary to the interests of the United 

States, including when the Secretary of State 

or the Secretary of Homeland Security, as 

appropriate, so determines, based on a 

recommendation of the Attorney General, 

that the person’s entry would further 

important United States law enforcement 

objectives. 

(b) The Secretary of State shall implement 

this authority as it applies to visas pursuant 

to such procedures as the Secretary of State, 

in consultation with the Secretary of 

Homeland Security, may establish. 

(c) The Secretary of Homeland Security 

shall implement this order as it applies to the 

entry of noncitizens pursuant to such 

procedures as the Secretary of Homeland 

Security, in consultation with the Secretary 

of State, may establish. 

(d) Such persons shall be treated by this 

section in the same manner as persons 

covered by section 1 of Proclamation 8693 of 

July 24, 2011 (Suspension of Entry of Aliens 

Subject to United Nations Security Council 

Travel Bans and International Emergency 

Economic Powers Act Sanctions). 

Sec. 4. (a) Any transaction that evades or 

avoids, has the purpose of evading or 

avoiding, causes a violation of, or attempts to 

violate any of the prohibitions set forth in 

this order is prohibited. 

(b) Any conspiracy formed to violate any 

of the prohibitions set forth in this order is 

prohibited. 

Sec. 5. I hereby determine that the making 

of donations of the types of articles specified 

in section 203(b)(2) of IEEPA (50 U.S.C. 

1702(b)(2)) by, to, or for the benefit of any 

person whose property and interests in 

property are blocked pursuant to this order 

would seriously impair my ability to deal 

with the national emergency declared in this 

order, and I hereby prohibit such donations 

as provided by section 1 of this order. 

Sec. 6. For the purposes of this order: 

(a) The term ‘‘entity’’ means a partnership, 

association, trust, joint venture, corporation, 

group, subgroup, or other organization; 

(b) the term ‘‘Government of the Russian 

Federation’’ means the Government of the 

Russian Federation, any political 

subdivision, agency, or instrumentality 

thereof, including the Central Bank of the 

Russian Federation, and any person owned, 

controlled, or directed by, or acting for or on 

behalf of, the Government of the Russian 

Federation; 

(c) the term ‘‘noncitizen’’ means any 

person who is not a citizen or noncitizen 

national of the United States; 

(d) the term ‘‘person’’ means an individual 

or entity; and 

(e) the term ‘‘United States person’’ means 

any United States citizen, lawful permanent 

resident, entity organized under the laws of 

the United States or any jurisdiction within 

the United States (including foreign 

branches), or any person in the United States. 

Sec. 7. For those persons whose property 

and interests in property are blocked 

pursuant to this order who might have a 

constitutional presence in the United States, 

I find that because of the ability to transfer 

funds or other assets instantaneously, prior 

notice to such persons of measures to be 

taken pursuant to this order would render 

those measures ineffectual. I therefore 

determine that for these measures to be 

effective in addressing the national 

emergency declared in this order, there need 

be no prior notice of a listing or 

determination made pursuant to section 1 of 

this order. 

Sec. 8. The Secretary of the Treasury, in 

consultation with the Secretary of State, is 

hereby authorized to take such actions, 

including the promulgation of rules and 

regulations, and to employ all powers 

granted to the President by IEEPA, as may be 

necessary to carry out the purposes of this 

order. The Secretary of the Treasury may, 

consistent with applicable law, redelegate 

any of these functions within the Department 

of the Treasury. All departments and 

agencies of the United States shall take all 

appropriate measures within their authority 

to carry out the provisions of this order. 

Sec. 9. Nothing in this order shall prohibit 

transactions for the conduct of the official 

business of the Federal Government or the 

United Nations (including its specialized 

agencies, programs, funds, and related 

organizations) by employees, grantees, and 

contractors thereof. 

Sec. 10. The Secretary of the Treasury, in 

consultation with the Secretary of State, is 

hereby authorized to submit recurring and 

final reports to the Congress on the national 

emergency declared in this order, consistent 

with section 401(c) of the NEA (50 U.S.C. 

1641(c)) and section 204(c) of IEEPA (50 

U.S.C. 1703(c)). 

Sec. 11. (a) Nothing in this order shall be 

construed to impair or otherwise affect: 

(i) The authority granted by law to an 

executive department or agency, or the head 

thereof; or 

(ii) the functions of the Director of the 

Office of Management and Budget relating to 

budgetary, administrative, or legislative 

proposals. 

(b) This order shall be implemented 

consistent with applicable law and subject to 

the availability of appropriations. 

(c) This order is not intended to, and does 

not, create any right or benefit, substantive or 

procedural, enforceable at law or in equity by 

any party against the United States, its 

departments, agencies, or entities, its officers, 

employees, or agents, or any other person. 

JOSEPH R. BIDEN JR. 

THE WHITE HOUSE, 

April 15, 2021. 

Andrea M. Gacki, 

Director, Office of Foreign Assets Control. 

[FR Doc. 2022–04281 Filed 2–28–22; 8:45 am] 

BILLING CODE 4810–AL–P 

DEPARTMENT OF HOMELAND 

SECURITY 

Coast Guard 

33 CFR Part 100 

[Docket No. USCG–2022–0100] 

Special Local Regulations; Rose Fest 

Dragon Boat Races, Willamette River, 

Portland, OR 

AGENCY: Coast Guard, Department of 

Homeland Security (DHS). 

ACTION: Notification of enforcement of 

regulation. 

SUMMARY: The Coast Guard will enforce 

a special local regulation for the Rose 

Fest Dragon Boat Races from June 11 

through June 12, 2022, to provide for the 

safety of life on navigable waterways 

during this event. Our regulation for 

marine events within the Thirteenth 

Coast Guard District identifies the 

regulated area for this event in Portland, 

OR. During the enforcement periods, the 

operator of any vessel in the regulated 

area must comply with directions from 

the Patrol Commander or any Official 

Patrol displaying a Coast Guard ensign. 

DATES: The regulations for the Rose Fest 

Dragon Boat Races in item 1 of Table 1 

to 33 CFR 100.1302 will be enforced 

from 6:30 a.m. until 6:30 p.m., each day 

from June 11, 2022, through June 12, 

2022. 

FOR FURTHER INFORMATION CONTACT: If 

you have questions about this 

notification of enforcement, call or 


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