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Home » 2022 Issues » 87 FR (12/27/2022) » 2022-28153. Russian Harmful Foreign Activities Sanctions Regulations Determination

  2022-28153. Russian Harmful Foreign Activities Sanctions Regulations Determination  

  • Start Preamble

    AGENCY:

    Office of Foreign Assets Control, Treasury.

    ACTION:

    Publication of a determination.

    SUMMARY:

    The Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing a price cap determination issued pursuant to an April 6, 2022 Executive order. The determination was previously issued on OFAC's website.

    DATES:

    The Determination Pursuant to Sections l(a)(ii), l(b), and 5 of Executive Order 14071 was issued on December 5, 2022.

    Start Further Info

    FOR FURTHER INFORMATION CONTACT:

    OFAC: Assistant Director for Licensing, 202-622-2480; Assistant Director for Regulatory Affairs, 202-622-4855; or Assistant Director for Sanctions Compliance & Evaluation, 202-622-2490.

    End Further Info End Preamble Start Supplemental Information

    SUPPLEMENTARY INFORMATION:

    Electronic Availability

    This document and additional information concerning OFAC are available on OFAC's website: www.treas.gov/​ofac.

    Background

    On December 5, 2022, the Secretary of the Treasury, in consultation with the Secretary of State, issued a determination pursuant to sections l(a)(ii), l(b), and 5 of Executive Order 14071 to impose a price cap on crude oil of Russian origin. The determination took effect at 12:01 a.m. eastern standard time on December 5, 2022, and was published on OFAC's website ( www.treas.gov/​ofac) on December 5, 2022. The text of the determination is below.

    Determination Pursant to Sections 1(a)(ii), 1(b), and 5 of Executive Order 14071

    Price Cap on Crude Oil of Russian Federation Origin

    Pursuant to sections l(a)(ii), l(b), and 5 of Executive Order (E.O.) 14071 of April 6, 2022 (“Prohibiting New Investment in and Certain Services to the Russian Federation in Response to Continued Russian Federation Aggression”), and the determination on November 21, 2022 made pursuant to sections l(a)(ii), l(b), and 5 of E.O. 14071 (“Prohibitions on Certain Services as They Relate to the Maritime Transport of Crude Oil of Russian Federation Origin”), the Secretary of the Treasury, in consultation with the Secretary of State, hereby determines that, effective 12:01 a.m. eastern standard time on December 5, 2022, the price cap on crude oil of Russian Federation origin shall be $60 per barrel.

    Start Signature

    Janet L. Yellen,

    Secretary, U.S. Department of the Treasury.

    Andrea M. Gacki,

    Director, Office of Foreign Assets Control.

    End Signature End Supplemental Information

    [FR Doc. 2022-28153 Filed 12-23-22; 8:45 am]

    BILLING CODE 4810-AL-P

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Document Information

Published:
12/27/2022
Department:
Foreign Assets Control Office
Entry Type:
Rule
Action:
Publication of a determination.
Document Number:
2022-28153
Dates:
The Determination Pursuant to Sections l(a)(ii), l(b), and 5 of Executive Order 14071 was issued on December 5, 2022.
Pages:
79255-79255 (1 pages)
PDF File:
2022-28153.pdf
Supporting Documents:
» Hong Kong-Related Sanctions Regulations
» Blocking or Unblocking of Persons and Properties
» Blocking or Unblocking of Persons and Properties
» Blocking or Unblocking of Persons and Properties
» Blocking or Unblocking of Persons and Properties
» Blocking or Unblocking of Persons and Properties
» Blocking or Unblocking of Persons and Properties
» Blocking or Unblocking of Persons and Properties
» Blocking or Unblocking of Persons and Properties
» Blocking or Unblocking of Persons and Properties
CFR: (1)
31 CFR 587