83 FR 52051 - Notice of OFAC Implementation of Certain Sanctions Imposed on Two Persons by the Secretary of State Pursuant to the Countering America's Adversaries Through Sanctions Act

DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control

Federal Register Volume 83, Issue 199 (October 15, 2018)

The Treasury Department's Office of Foreign Assets Control (OFAC) is taking action to implement certain of the sanctions imposed on two persons by the Secretary of State pursuant to the Countering America's Adversaries Through Sanctions Act (Pub. L. 115-44).

[Federal Register Volume 83, Number 199 (Monday, October 15, 2018)]
[Notices]
[Pages 52051-52053]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-21131]


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DEPARTMENT OF THE TREASURY

Office of Foreign Assets Control


Notice of OFAC Implementation of Certain Sanctions Imposed on Two 
Persons by the Secretary of State Pursuant to the Countering America's 
Adversaries Through Sanctions Act

AGENCY: Office of Foreign Assets Control, Treasury.

ACTION: Notice.

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SUMMARY: The Treasury Department's Office of Foreign Assets Control 
(OFAC) is taking action to implement certain of the sanctions imposed 
on two persons by the Secretary of State pursuant to the Countering 
America's Adversaries Through Sanctions Act (Pub. L. 115-44).

DATES: See SUPPLEMENTARY INFORMATION section.

FOR FURTHER INFORMATION CONTACT: OFAC: Associate Director for Global 
Targeting, tel.: 202-622-2420; Assistant Director for Licensing, tel.: 
202-622-2480; Assistant Director for Regulatory Affairs, tel.: 202-622-
4855; Assistant Director for Sanctions Compliance & Evaluation, tel.: 
202-622-2490; or the Department of the Treasury's Office of the General 
Counsel: Office of the Chief Counsel (Foreign Assets Control), tel.: 
202-622-2410.

SUPPLEMENTARY INFORMATION: 

Electronic Availability

    The list of Specially Designated Nationals and Blocked Persons (SDN 
List) and additional information concerning OFAC sanctions programs are 
available on OFAC's website (http://www.treasury.gov/ofac).
    Background: Section 231 of the Countering America's Adversaries 
Through Sanctions Act requires the Secretary of State, pursuant to 
authority delegated by the President, to impose or waive sanctions on 
persons he determines have knowingly engaged in a significant 
transaction with a person that is part of, or operates for or on behalf 
of, the defense or intelligence sectors of the Government of the 
Russian Federation. Pursuant to Executive Order 13849 of September 20, 
2018, ``Authorizing the Implementation of Certain Sanctions Set Forth 
in the Countering America's Adversaries Through Sanctions Act'' (the 
``Order''), the Secretary of the Treasury is responsible for 
implementing certain of the sanctions imposed set forth in Section 235 
of CAATSA when those sanctions are selected for imposition by the 
President, Secretary of State, or the Secretary of the Treasury. The 
Secretary of the Treasury is responsible for

[[Page 52052]]

implementing the following sanctions under CAATSA: (i) Prohibiting any 
United States financial institution from making loans or providing 
credits to the sanctioned person totaling more than $10,000,000 in any 
12-month period, unless the person is engaged in activities to relieve 
human suffering and the loans or credits are provided for such 
activities; (ii) prohibiting any transactions in foreign exchange that 
are subject to the jurisdiction of the United States and in which the 
sanctioned person has any interest; (iii) prohibiting any transfers of 
credit or payments between financial institutions, or by, through, or 
to any financial institution, to the extent that such transfers or 
payments are subject to the jurisdiction of the United States and 
involve any interest of the sanctioned person; (iv) blocking all 
property and interests in property of the sanctioned person 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, and providing that such property and interests in 
property may not be transferred, paid, exported, withdrawn, or 
otherwise dealt in; (v) prohibiting any United States person from 
investing in or purchasing significant amounts of equity or debt 
instruments of the sanctioned person; or (vi) imposing on the principal 
executive officer or officers of the sanctioned person, or on persons 
performing similar functions and with similar authorities as such 
officer or officers, the sanctions described in (i)-(v).
    The Secretary of State has imposed CAATSA sanctions on two persons. 
This action, published today in the Federal Register by the Department 
of State, provides the names of the persons subject to sanctions, as 
well as a complete list of the sanctions imposed on each person. 
Accordingly, the Director of OFAC, acting pursuant to delegated 
authority, has taken the actions described below to implement those 
sanctions set forth in Section 235 of CAATSA and the Order with respect 
to the persons listed below.

[[Page 52053]]

[GRAPHIC] [TIFF OMITTED] TN15OC18.003

    The Director of OFAC has: (a) Blocked all property and interests in 
property that are in the United States, that come within the United 
States, or that are or come within the possession or control of any 
United States person, including any overseas branch, and which may not 
be transferred, paid, exported, withdrawn, or otherwise dealt in, of 
Equipment Development Department and Li Shangfu; (b) prohibited any 
transfers of credit or payments between financial institutions or by, 
through, or to any financial institution, to the extent that such 
transfers or payments are subject to the jurisdiction of the United 
States and involved any interest of Equipment Development Department 
and Li Shangfu; and (c) prohibited any transactions in foreign exchange 
that are subject to the jurisdiction of the United States and in which 
Equipment Development Department and Li Shangfu have any interest. 
These persons have been added to OFAC's List of Specially Designated 
Nationals and Blocked Persons and include the identifying tag 
``CAATSA--RUSSIA.''

Andrea M. Gacki,
Director, Office of Foreign Assets Control.
[FR Doc. 2018-21131 Filed 10-12-18; 8:45 am]
 BILLING CODE 4810-AL-P