Source: https://www.federalregister.gov/documents/2011/06/20/2011-15166/north-korea-sanctions-regulations
Timestamp: 2018-08-21 03:31:59
Document Index: 413355393

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A Rule by the Foreign Assets Control Office on 06/20/2011
35740-35742 (3 pages)
2011-15166
https://www.federalregister.gov/d/2011-15166 https://www.federalregister.gov/d/2011-15166
The Department of the Treasury's Office of Foreign Assets Control (“OFAC”) is amending the North Korea Sanctions Regulations to implement Executive Order 13570 of April 18, 2011. OFAC intends to supplement these regulations with a more comprehensive set of regulations, which may include additional interpretive and definitional guidance and additional general licenses and statements of licensing policy.
On June 26, 2008, the President, invoking the authority of, inter alia, the International Emergency Economic Powers Act (50 U.S.C. 1701-1706) (“IEEPA”) and the National Emergencies Act (50 U.S.C. 1601-1651) (the “NEA”), issued Executive Order 13466 (73 FR 36787, June 27, 2008) (“E.O. 13466”). On August 30, 2010, the President, invoking the authority of, inter alia, IEEPA, the NEA, and section 5 of the United Nations Participation Act (22 U.S.C. 287c) (the “UNPA”), issued Executive Order 13551 (75 FR 53837, September 1, 2010) (“E.O. 13551”), effective at 12:01 p.m. eastern daylight time on August 30, 2010.
On November 4, 2010, the Department of the Treasury's Office of Foreign Assets Control published the North Korea Sanctions Regulations, 31 CFR part 510 (the “Regulations”), to implement E.O. 13466 and E.O. 13551, pursuant to authorities delegated to the Secretary of the Treasury in those orders (75 FR 67912, November 4, 2010).
On April 18, 2011, the President, invoking the authority of, inter alia, IEEPA, the NEA, and the UNPA, issued Executive Order 13570 (76 FR 22291, April 20, 2011) (“E.O. 13570”), effective at 12:01 a.m. eastern daylight time on April 19, 2011.
This final rule amends the Regulations to implement E.O. 13570, pursuant to authorities delegated to the Secretary of the Treasury in E.O. 13570. A copy of E.O. 13570 appears in appendix C to this part.
These amendments to 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 part 510 with a more comprehensive set of regulations, which may include additional interpretive and definitional guidance and additional general licenses and statements of licensing policy. (The appendices to the Regulations will be removed when OFAC publishes a more comprehensive set of regulations.)
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For the reasons set forth in the preamble, the Department of the Treasury's Office of Foreign Assets Control amends part 510 of 31 CFR chapter V as follows:
1. Revise the authority citation for part 510 to read as follows:
Authority: 3 U.S.C. 301; 31 U.S.C. 321(b); 50 U.S.C. 1601-1651, 1701-1706; 22 U.S.C. 287c; Pub. L. 101-410, 104 Stat. 890 (28 U.S.C. 2461 note); Pub. L. 110-96, 121 Stat. 1011 (50 U.S.C. 1705 note); E.O. 13466, 73 FR 36787, June 27, 2008, 3 CFR, 2008 Comp., p. 195; E.O. 13551, 75 FR 53837, September 1, 2010; E.O. 13570, 76 FR 22291, April 20, 2011.
2. Amend § 510.201 by redesignating Note 1 to § 510.201(a) as Note to § 510.201(a), redesignating Note 1 to § 510.201 and Note 2 to § 510.201 as Note 1 to § 510.201(b) and Note 2 to § 510.201(b), respectively, redesignating Note 3 to § 510.201 as Note to § 510.201, and adding new paragraph (c) to read as follows:
(c) All transactions prohibited pursuant to Executive Order 13570 are also prohibited pursuant to this part.
3. Amend § 510.302 by revising paragraphs (b) and (c) and adding new paragraph (d) to read as follows:
4. Add new § 510.501 to read as follows:
5. Add new § 510.801 to read as follows:
6. Revise § 510.802 to read as follows:
7. Add new appendix C to part 510 to read as follows:
I, BARACK OBAMA, President of the United States of America, in order to take additional steps to address the national emergency declared in Executive Order 13466 of June 26, 2008, and expanded in Executive Order 13551 of August 30, 2010, that will ensure implementation of the import restrictions contained in UNSCRs 1718 and 1874 and complement the import restrictions provided for in the Arms Export Control Act (22 U.S.C. 2751 et seq.), hereby order:
Start Printed Page 35742
[FR Doc. 2011-15166 Filed 6-17-11; 8:45 am]