FINAL RULES
PUBLISHED IN THE FEDERAL REGISTER DURING 1993
TREASURY DEPARTMENT, OFFICE OF FOREIGN ASSET CONTROL
FOREIGN ASSET CONTROL REGULATIONS
(31 CFR Part 500 et seq.)
NOTE: CHANGES TO THE FOREIGN ASSET CONTROL REGULATIONS LISTED BELOW ARE NUMBERED CONSECUTIVELY, BEGINNING IN JANUARY OF THE NEW YEAR.
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1. Haitian Transactions Regulations (58 FR 3228 on January 8, 1993)
Commentary: The Office of Foreign Asset Control is extending all current licenses issued under Section 580.515 of the Haitian Transactions Regulations which authorize transactions in connection with exportations to Haiti and importations from Haiti of certain articles. In addition, OFAC is clarifying the reporting requirements with respect to such licenses.
2. Haitian Transactions Regulations (58 FR 4080 on January 13, 1993)
Commentary: This rule amends the Haitian Transactions Regulations to grant a general license for commercial exportations from the United States to Haiti of medicine and medical supplies intended for medical purposes. It also announces the availability of specific licenses for exportation to Haiti of certain items for personal hygiene and educational use.
3. Transaction Control Regulations (58 FR 13197 on March 10, 1993)
Commentary: The Treasury Department's Office of Foreign Assets Control ("OFAC") has issued a final rule amending the Transaction Control Regulations (31 CFR Part 505) to permit exports by U.S. persons from COCOM cooperating countries to prescribed countries without obtaining a license from OFAC. This change conforms the OFAC regulations to the Permissive Re-export provisions of the counterpart Export Administration Regulations (15 CFR 774) amended on May 1, 1992 (57 FR 18817).
4. Libyan Sanctions Regulations (58 FR 13198 on March 10, 1993)
Commentary: OFAC has amended the Libyan embargo (31 CFR 550) to permit performance of certain legal services on behalf of the Government of Libya.
5. Federal Republic of Yugoslavia (Serbia and Montenegro) Sanctions Regulations (58 FR 13199 on March 10, 1993)
Commentary: OFAC has issued a comprehensive collection of regulations, codified at 31 CFR 585, which implement the President's declaration of a national emergency and imposition of sanctions against the former Yugoslav republics of Serbia and Montenegro. These regulations delineate the scope of the President's Executive Orders issued in May and June of 1992, and in January of 1993, and generally is consistent with the embargo imposed by the United Nations.
6. Cuban Asset Control Regulations (58 FR 34709 on June 29)
Commentary: The Office of Foreign Assets Control ("OFAC") has amended the Cuban Assets Control Regulations to reflect changes required by the Cuban Democracy Act of 1992 (the "Act", Pub.L 102-484). In accordance with these new Congressional requirements, OFAC no longer is authorized to issue licenses to foreign subsidiaries of U.S. companies located in countries which have a policy of encouraging trade with Cuba. This closes a significant loophole in the Cuban embargo. In addition, the Act and the new regulations prohibit vessels which have called in Cuban ports from entering U.S. waters for 180 days. Finally, in furtherance of its new authority to impose civil penalties, OFAC has published new administrative procedures for the conduct of enforcement actions.
7. Federal Republic of Yugoslavia (Serbia and Montenegro) Sanctions Regulations (58 FR 35828 on July 1, 1993)
Commentary: This final rule implements Executive Order 12846 and United Nations Security Council Resolution 820 tightening economic sanctions against the Federal Republic of Yugoslavia (Serbia and Montenegro). It formalizes the "working presumption" used by the Office of Foreign Assets Control that all entities organized or located in the Federal Republic of Yugoslavia are owned or controlled by the government, and hence their assets are subject to the sanctions. This final rule also makes a number of significant changes to other aspects of the sanctions regulations.
8. Haitian Transactions Regulations (58 FR 40043 on July 27, 1993)
Commentary: The Office of Foreign Assets Control has published a new Appendix to the Haitian Transactions Regulations, which lists the members of the de facto regime in Haiti who seized power illegally from the democratically elected government of President Jean-Bertrand Aristide and whose assets are frozen.
9. Cuban Assets Control Regulations (58 FR 45060 on August 26, 1993)
Commentary: This final rule amends the Cuban Assets Control Regulations to implement the provisions of the Cuban Democracy Act of 1992 with respect to provision of telecommunications service to Cuba and travel to Cuba related thereto. It also makes several minor amendments to Title 31 CFR Part 515.
10. Haitian Transactions Regulations (58 FR 46540 on September 2, 1993)
Commentary: Consistent with U.N. Security Council Resolution 861 of August 27, 1993, the U.S. has suspended its sanctions against Haiti, but has not released blocked assets of the Government of Haiti.
11. Foreign Assets Control, Cuban Assets Control, Libyan Sanctions, Iraqi Sanctions, Haitian Transactions, and Federal Republic of Yugoslavia (Serbia and Montenegro) Sanctions Regulations (58 FR 47643 on September 10, 1993)
Commentary: The Treasury Department's Office of Foreign Assets Control has amended the reporting requirements for financial institutions holding blocked assets under the above-referenced embargo regimes.
12. Haitian Transactions Regulations (58 FR 54024 on October 19, 1993)
Commentary: This final rule reimposes the U.S. sanctions against Haiti, consistent with actions of the United Nations Security Council in Resolution 873 of October 13, 1993.
13. Notification of Blocked Individuals of Haiti (58 FR 58480 on November 1, 1993)
Commentary: This notice identifies those individuals who have been determined by the Treasury Department to be "Blocked Individuals" of Haiti pursuant to the sanctions which were reimposed on Haiti under United Nations Security Council in Resolution 873 of October 13, 1993.
14. Foreign Assets Control Regulations (58 FR 63083 on November 30, 1993)
Commentary: Reflecting the latest easing of the Vietnam embargo, the Office of Foreign Assets Control has amended the Foreign Assets Control Regulations to announce the availability of specific licenses authorizing the provision of training and orientation services by U.S. companies to Vietnamese nationals. Related payments for travel and maintenance also are authorized. Note, however, that licenses will be granted only for technical data related to commodities which may be exported to Russia, China and similar countries under general license. Technical data related to items controlled on the COCOM Industrial List, for example, would not be eligible.
15. UNITA (Angola) Sanctions Regulations (58 FR 64904 on December 10, 1993)
Commentary: The Office of Foreign Assets Control has issued a comprehensive set of regulations implementing an embargo of the UNITA faction in Angola. These regulations implement the United Nations Security Council Resolution 864 dated September 15, 1993 and President Clinton's Executive Order 12865 dated September 26, 1993.
16. Foreign Assets Control Regulations; Participation in International Institutions' Development Projects in Vietnam (58 FR 68529 on December 28, 1993)
Commentary: As the latest step toward the gradual removal of the Vietnam embargo, the Office of Foreign Assets Control has amended the Foreign Assets Control Regulations permitting U.S. companies to participate in development projects in Vietnam that have been formally proposed, approved, executed, funded or sponsored by certain international institutions, including the Asian Development Bank, International Monetary Fund, and a number of United Nations organizations. These amendments also announce the availability of validated licenses to permit co-financing or lending to such development projects, and permission for banking institutions to process transactions of these development institutions involving Vietnam.