FINAL RULES
PUBLISHED IN THE FEDERAL REGISTER DURING 1994
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. Libyan Sanctions Regulations; Blocking of Offshore Foreign Currency Deposits (59 FR 5105 on February 3, 1994)
Commentary: The Office of Foreign Assets Control has blocked certain financial assets of the Government of Libya by revoking a general license that unblocked Libyan government deposits in currencies other than U.S. dollars held abroad by U.S. persons. This action brings the U.S. into compliance with U.N Security Council Resolution 883 on November 11, 1993.
2. Foreign Assets Control Regulations; Prospective Lifting of Vietnam Embargo (59 FR 5696 on February 7, 1994)
Commentary: Implementing the President's announcement of February 3, 1994, the Office of Foreign Assets Control has lifted the trade embargo against Vietnam administered under 31 CFR Part 500. Note, however, that certain assets of Vietnam remain blocked. Note also the amendment to the Export Administration Regulations published by the Commerce Department's Bureau of Export Administration in 59 FR 6524 on February 10, 1994.
3. Termination of Restrictions on Importation of, and Certification Requirements for, Nickel and Nickel-Bearing Materials Originating in the Soviet Union or its Successor States (59 FR 6675 on February 11, 1994)
Commentary: The Office of Foreign Assets Control has lifted its ban on importation of certain nickel and nickel bearing materials, which has been in place since 1983.
4. Haitian Transactions Regulations; Extension of Assembly Sector Licenses (59 FR 8134 on February 18, 1994)
Commentary: The Office of Foreign Assets Control has extended for 60 days certain licenses granted under the Haitian Transactions Regulations.
5. Termination of Restrictions on Importation of, and Certification Requirement for, Nickel and Nickel Bearing Materials Originating in the Soviet Union or Successor States (59 FR 9805 on March 1, 1994)
Commentary: This final rule merely makes an editorial correction to the final rule published on February 11, 1994.
6. Libyan Sanctions Regulations (59 FR 13210 on March 21, 1994)
Commentary: The Office of Foreign Assets Control has amended the Libyan Sanctions Regulations to add several banks to the list of Specially Designated Nationals of Libya.
7. Haitian Transaction Regulations; Extension of Assembly Sector Licenses (59 FR 15342 on April 1, 1994)
Commentary: The Office of Foreign Assets Control has extended all licenses previously granted authorizing U.S. exports to and imports from Haiti in connection with assembly of articles in that country, until May 31, 1994.
8. Haitian Transaction Regulations; Blocked Individuals of Haiti (59 FR 16548 on April 7, 1994)
Commentary: The Office of Foreign Assets Control has amended the Haitian Transactions Regulations to add several hundred individuals to the list of persons whose assets are frozen and with whom transactions are prohibited.
9. Foreign Assets Control, Transaction Control, and Foreign Funds Control Regulations; Civil Penalties (59 FR 16775 on April 8, 1994)
Commentary: The Office of Foreign Assets Control has amended the regulations set forth above to reflect the new civil penalty procedures and authorized under amendments to the Trading with the Enemy Act passed in 1992. These include for the first time civil monetary penalties and forfeiture, in addition to long-standing criminal penalties.
10. Panamanian Transaction Regulations; Resolution of Claims from Blocked Government of Panama Assets (59 FR 24643 on May 12, 1994)
Commentary: The Office of Foreign Assets Control has amended the Panamanian Transactions Regulations to include a statement of licensing policy indicating that specific licenses may be issued authorizing the release of blocked Government of Panama funds at the request of that government to satisfy settlements, final judgments and arbitral awards with respect to claims filed by U.S. persons.
11. Haitian Transaction Regulations; Expiration or Revocation of Assembly Sector Licenses (59 FR 25817 on May 18, 1994)
Commentary: The Office of Foreign Assets Control has amended the Haitian Transactions Regulations to suspend and\or revoke all assembly sector licenses previously granted.
12. Foreign Assets Control Regulations; Unblocking of Certain Bank Transfers Involving Vietnam (59 FR 26601 on May 23, 1994)
Commentary: The Office of Foreign Assets Control has amended the Foreign Assets Control Regulations authorizing U.S. banks to unblock certain funds in which Vietnam or its nationals have an interest.
13. Cuban Assets Control Regulations; Flight Times; Civil Penalties (59 FR 31142 on June 17, 1994)
Commentary: The Office of Foreign Assets Control has amended the Cuban Assets Control Regulations to eliminate the requirement that flights to and from Cuba arrive and depart during normal business hours, and to include references to the Cuban Democracy Act, which increased the penalties for violation of the Cuban Assets Control Regulations, in the penalties section of the Regulations.
14. Libyan Sanctions Regulations; Definition of "Government of Libya" (59 FR 31143 on June 17, 1994)
Commentary: The Office of Foreign Assets Control has amended the Libyan Sanctions Regulations to narrow the scope of business organizations which are considered to be part of the "Government of Libya". The new regulations expressly provide that an entity will not be deemed a part of the "Government of Libya" merely because it is located in, organized under the laws of, or has its principle place of business in, Libya.
15. Libyan Sanctions Regulations; Specially Designated Nationals List (59 FR 35259 on July 11, 1994)
Commentary: The Office of Foreign Assets Control has amended the Libyan Sanctions Regulations to add several new entities and individuals to the list of Specially Designated Nationals of Libya.
16. Cuban Assets Control Regulations: Remittances and Travel Transactions Restrictions (59 FR 44884 on August 30, 1994)
Commentary: The Office of Foreign Assets Control has modified the scope of authorized remittances and travel to Cuba in accordance with the most recent Clinton administration policy to deal with the influx of refugees into South Florida.
17. Panamanian Transactions Regulations; Resolution of Claims from Blocked Government of Panama Assets (59 FR 46720 on September 9, 1994)
Commentary: The Office of Foreign Assets Control has decided to unblock the remaining assets of the Government of Panama, which were frozen in 1988 during the conflict with the Noriega regime.
18. Haitian Transactions Regulations (59 FR 51066 on October 6, 1994)
Commentary: The Office of Foreign Assets Control has amended the Haitian Transactions Regulations to suspend most (but not all) unilateral sanctions against Haiti, "in light of the pending restoration of the democratically elected government of Haiti".
19. Libyan Sanctions Regulations; Specially Designated Nationals List (59 FR 51106 on October 7, 1994)
Commentary: The Office of Foreign Assets Control has amended the Libyan Sanctions Regulations to add a number of additional individuals and entities to the List of Specially Designated Nationals of Libya denied access to U.S. products and technologies.
20. Panamanian Transactions Regulations; Termination of Residual Blocking of Government of Panama Assets (59 FR 55209 on November 4, 1994)
Commentary: The Office of Foreign Assets Control has terminated the Panamanian Transactions Regulations without affecting its rights to conduct enforcement for past violations.
21. List of Blocked Persons and Specially Designated Nationals (59 FR 59460 on November 17, 1994)
Commentary: The Office of Foreign Assets Control has issued a comprehensive list of all of the blocked persons and specially designated nationals on all of the lists it maintains, to enhance public awareness and to facilitate compliance.
22. Foreign Assets Control Regulations: Cambodia; Unblocking of Certain Assets (59 FR 60558 on November 25, 1994)
Commentary: Pursuant to the settlement agreement entered into by the U.S. and Cambodian Governments, the Office of Foreign Assets Control has unblocked Cambodian assets, subject to a few exceptions.
23. List of Blocked Persons and Specially Designated Nationals (59 FR 61656 on December 1, 1994)
Commentary: The Office of Foreign Assets Control has changed the effective date of the final rule published in the Federal Register on November 17, 1994.
24. Haitian Transactions Regulations: Lifting of Sanctions (59 FR 66476 on December 27, 1994)
Commentary: The Office of Foreign Assets Control has lifted the sanctions imposed on Haiti under the Haitian Transactions Regulations in light of the return of the elected government and exile of the dictatorship.