8090 Federal Register / Vol. 90, No. 14 / Thursday, January 23, 2025 / Notices 

effect: raising China’s shipbuilding 

market share from less than 5 percent of 

global tonnage in 1999, to over 50 

percent in 2023; increasing China’s 

ownership of the commercial world 

fleet to over 19 percent as of January 

2024; and controlling production of 95 

percent of shipping containers and 86 

percent of the world’s supply of 

intermodal chassis, among other 

components and products. 

IV. Determination on the Acts, Policies, 

or Practices Under Investigation 

Based on the information obtained 

during the investigation, as reflected in 

the public report on the investigation, 

and taking account of public comments, 

as well as the advice of the Section 301 

Committee and advisory committees, 

the U.S. Trade Representative has made 

the following determination under 

sections 301(b) and 304(a) of the Trade 

Act (19 U.S.C. 2411(b) and 2414(a)): 

China’s targeting of the maritime, 

logistics, and shipbuilding sectors for 

dominance is unreasonable and burdens 

or restricts U.S. commerce, and thus is 

actionable under section 301(b) of the 

Trade Act. 

In particular, China’s targeting of the 

maritime, logistics, and shipbuilding 

sectors for dominance is unreasonable 

because: it displaces foreign firms, 

deprives market-oriented businesses 

and their workers of commercial 

opportunities, and lessens competition; 

and it creates dependencies on China, 

increasing risk and reducing supply 

chain resilience. China’s targeting for 

dominance also is unreasonable because 

of China’s extraordinary control over its 

economic actors and these sectors. 

Furthermore, China’s targeting of the 

maritime, logistics, and shipbuilding 

sectors for dominance burdens or 

restricts U.S. commerce by: 

undercutting business opportunities for 

and investments in the U.S. maritime, 

logistics, and shipbuilding sectors; 

restricting competition and choice; 

creating economic security risks from 

dependence and vulnerabilities in 

sectors critical to the functioning of the 

U.S. economy; and undermining supply 

chain resilience. 

These findings provide a basis for 

finding that responsive action is 

appropriate to obtain the elimination of 

the acts, policies, or practices covered in 

the investigation. 

V. Further Proceedings 

Sections 301(b) and 304(a)(1)(B) of the 

Trade Act provide that if the U.S. Trade 

Representative determines that an act, 

policy, or practice of a foreign country 

is unreasonable or discriminatory and 

burdens or restricts United States 

commerce, the U.S. Trade 

Representative shall determine what 

action, if any, to take under section 

301(b). These matters will be addressed 

in subsequent proceedings. 

Juan Millan, 

Acting General Counsel, Office of the United 

States Trade Representative. 

[FR Doc. 2025–01540 Filed 1–22–25; 8:45 am] 

BILLING CODE 3290–F4–P 

DEPARTMENT OF THE TREASURY 

Office of Foreign Assets Control 

Notice of OFAC Sanctions Action 

AGENCY: Office of Foreign Assets 

Control, Treasury. 

ACTION: Notice. 

SUMMARY: The U.S. Department of the 

Treasury’s Office of Foreign Assets 

Control (OFAC) is publishing the names 

of one or more persons that have been 

placed on OFAC’s Specially Designated 

Nationals and Blocked Persons List 

(SDN List) based on OFAC’s 

determination that one or more 

applicable legal criteria were satisfied. 

All property and interests in property 

subject to U.S. jurisdiction of this 

person is blocked, and U.S. persons are 

generally prohibited from engaging in 

transactions with them. 

DATES: This action was issued on 

January 15, 2025. See SUPPLEMENTARY

INFORMATION section for relevant dates. 

FOR FURTHER INFORMATION CONTACT: 

OFAC: Associate Director for Global 

Targeting, 202–622–2420; Assistant 

Director for Sanctions Compliance, 202– 

622–2490 or https://ofac.treasury.gov/ 

contact-ofac. 

SUPPLEMENTARY INFORMATION: 

Electronic Availability 

The SDN List and additional 

information concerning OFAC sanctions 

programs are available on OFAC’s 

website: https://ofac.treasury.gov. 

Notice of OFAC Actions 

On January 15, 2025, OFAC 

determined that the person identified 

below meets one or more of the criteria 

for the imposition of sanctions set forth 

in section 11(a) of Executive Order 

14024 of April 15, 2021, ‘‘Blocking 

Property With Respect To Specified 

Harmful Foreign Activities of the 

Government of the Russian Federation,’’ 

(E.O. 14024), as amended by Executive 

Order 14114 of December 22, 2023, 

‘‘Taking Additional Steps With Respect 

to the Russian Federation’s Harmful 

Activities’’ (E.O. 14114). OFAC has 

determined to impose blocking 

sanctions pursuant to section 11(b)(ii) of 

E.O. 14024, as amended by E.O. 14114 

on the person identified below, and 

therefore all of the person’s 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, are 

blocked, and such property and 

interests in property may not be 

transferred, paid, exported, withdrawn, 

or otherwise dealt in. 

Entity 

1. OJSC KEREMET BANK, 40/4 Togolok 

Moldo str, Bishkek 720001, Kyrgyzstan; 

SWIFT/BIC RINBKG22; website https://

keremetbank.kg; Secondary sanctions risk: 

See Section 11 of Executive Order 14024.; 

BIK (RU) 136001; Target Type Financial 

Institution; Tax ID No. 02012201010017 

(Kyrgyzstan); Global Intermediary 

Identification Number 

NNNQ6K.99999.SL417 [RUSSIA–EO14024]. 

Designated pursuant to section 11(a)(ii) of 

Executive Order 14024 of April 15, 2021, 

‘‘Blocking Property With Respect To 

Specified Harmful Foreign Activities of the 

Government of the Russian Federation,’’ 86 

FR 20249, 3 CFR, 2021 Comp., p. 542 (Apr. 

15, 2021) (E.O. 14024) as amended by 

Executive Order 14114 of December 22, 2023, 

‘‘Taking Additional Steps With Respect to 

the Russian Federation’s Harmful Activities,’’ 

88 FR 89271, 3 CFR, 2023 Comp., p. 721 

(Dec. 22, 2023) (E.O. 14114) for having 

conducted or facilitated any significant 

transaction or transactions, or provided any 

service, involving Russia’s military-industrial 

base, including the sale, supply, or transfer, 

directly or indirectly, to the Russian 

Federation of any item or class of items as 

may be determined by the Secretary of the 

Treasury, in consultation with the Secretary 

of State and the Secretary of Commerce. 

Lisa M. Palluconi, 

Acting Director, Office of Foreign Assets 

Control. 

[FR Doc. 2025–01578 Filed 1–22–25; 8:45 am] 

BILLING CODE 4810–AL–P 

DEPARTMENT OF THE TREASURY 

Office of Foreign Assets Control 

Notice of OFAC Sanctions Action 

AGENCY: Office of Foreign Assets 

Control, Treasury. 

ACTION: Notice. 

SUMMARY: The U.S. Department of the 

Treasury’s Office of Foreign Assets 

Control (OFAC) is publishing the names 

of one or more persons that have been 

placed on OFAC’s Specially Designated 

Nationals and Blocked Persons List 

(SDN List) based on OFAC’s 

determination that one or more 


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