Zimbabwe Sanctions Regulations
| Published date | 22 May 2020 |
| Record Number | 2020-11093 |
| Section | Rules and Regulations |
| Court | Foreign Assets Control Office |
Federal Register, Volume 85 Issue 100 (Friday, May 22, 2020)
[Federal Register Volume 85, Number 100 (Friday, May 22, 2020)]
[Rules and Regulations]
[Pages 31060-31061]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-11093]
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DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
31 CFR Part 541
Zimbabwe Sanctions Regulations
AGENCY: Office of Foreign Assets Control, Treasury.
ACTION: Final rule.
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SUMMARY: The Department of the Treasury's Office of Foreign Assets
Control (OFAC) is amending the Zimbabwe Sanctions Regulations to remove
a general license that authorizes all transactions involving
Agricultural Development Bank of Zimbabwe and Infrastructure
Development Bank of Zimbabwe as a result of these entities being
removed from OFAC's Specially Designated Nationals and Blocked Persons
List (SDN List).
DATES: This rule is effective May 22, 2020.
FOR FURTHER INFORMATION CONTACT: OFAC: Assistant Director for
Licensing, tel.: 202-622-2480; Assistant Director for Regulatory
Affairs, tel.: 202-622-4855; or Assistant Director for Sanctions
Compliance & Evaluation, tel.: 202-622-2490.
SUPPLEMENTARY INFORMATION:
Electronic Availability
This document and additional information concerning OFAC are
available on OFAC's website (www.treasury.gov/ofac).
Background
On July 29, 2004, OFAC issued the Zimbabwe Sanctions Regulations,
31 CFR part 541 (69 FR 45246, July 29, 2004) (the ``Regulations'') as
an interim final rule to implement Executive Order (E.O.) 13288 of
March 6, 2003 (``Blocking Property of Persons Undermining Democratic
Processes or Institutions in Zimbabwe''). Subsequently, E.O. 13391 of
November 22, 2005 (``Blocking Property of Additional Persons
Undermining Democratic Processes or Institutions in Zimbabwe'') and
E.O. 13469 of July 25, 2008 (``Blocking Property of Additional Persons
Undermining Democratic Processes or Institutions in Zimbabwe'') were
issued pursuant to the national emergency declared in E.O. 13288.
On July 25, 2008, OFAC designated the Agricultural Development Bank
of Zimbabwe and the Infrastructure Development Bank of Zimbabwe
pursuant to E.O. 13469. At that time, OFAC determined that these
entities contributed to the undermining of democratic processes and
institutions in Zimbabwe by providing support for Robert Mugabe's
regime.
On April 24, 2013, OFAC issued Zimbabwe General License No. 1,
authorizing all transactions involving the Agricultural Development
Bank of Zimbabwe and the Infrastructure Development Bank of Zimbabwe,
subject to certain limitations, and published this general license on
its website (www.treasury.gov/ofac). On July 9, 2013, OFAC also
published this general license in the Federal Register.
On July 10, 2014, OFAC amended the Regulations to adopt as a final
rule the interim final rule originally issued on July 29, 2004, with
changes to implement E.O. 13391 and E.O. 13469, and to incorporate
Zimbabwe General License No. 1 into Sec. 541.510 of the Regulations
(79 FR 39312, July 10, 2014).
On February 3, 2016, OFAC removed the Agricultural Development Bank
of Zimbabwe and the Infrastructure Development Bank of Zimbabwe from
the SDN List. This rule amends the Regulations to remove the general
license that was located in Sec. 541.510, as authorization is no
longer required to engage in transactions with these entities. In
addition, OFAC is updating the authorities citation of the Regulations
to shorten citations to conform with Federal Register guidance.
Public Participation
Because the Regulations involve a foreign affairs function, the
provisions of Executive Order 12866 and the Administrative Procedure
Act (5 U.S.C. 553) requiring notice of proposed rulemaking, opportunity
for public participation, and delay in effective date, as well as the
provisions of Executive Order 13771, are inapplicable. Because no
notice of proposed rulemaking is required for this rule, the Regulatory
Flexibility Act (5 U.S.C. 601-612) does not apply.
Paperwork Reduction Act
The collections of information related to the Regulations are
contained in 31 CFR part 501 (the ``Reporting, Procedures and Penalties
Regulations''). Pursuant to the Paperwork Reduction Act of 1995 (44
U.S.C. 3507), those collections of information have been approved by
the Office of Management and Budget under control number 1505-0164. An
agency may not conduct or sponsor, and a person is not required to
respond to, a collection of information unless the collection of
information displays a valid control number.
[[Page 31061]]
List of Subjects in 31 CFR Part 541
Administrative practice and procedure, Banks, banking, Blocking of
assets, Credit, Foreign trade, Penalties, Reporting and recordkeeping
requirements, Securities, Services, Zimbabwe.
For the reasons set forth in the preamble, the Department of the
Treasury's Office of Foreign Assets Control amends 31 CFR part 541 as
follows:
PART 541--ZIMBABWE SANCTIONS REGULATIONS
0
1. The authority citation for part 541 is revised to read as follows:
Authority: 3 U.S.C. 301; 31 U.S.C. 321(b); 50 U.S.C. 1601-1651,
1701-1706; 28 U.S.C. 2461 note; 50 U.S.C. 1705 note; E.O. 13288, 68
FR 11457, 3 CFR, 2003 Comp., p. 186; E.O. 13391, 70 FR 71201, 3 CFR,
2005 Comp., p. 206; E.O. 13469, 73 FR 43841, 3 CFR, 2008 Comp., p.
1025.
Subpart E--Licenses, Authorizations and Statements of Licensing
Policy
Sec. 541.510 [Removed]
0
2. Remove Sec. 541.510.
Dated: May 15, 2020.
Andrea Gacki,
Director, Office of Foreign Assets Control.
[FR Doc. 2020-11093 Filed 5-21-20; 8:45 am]
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