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FEDERAL RESERVE BANK
OF NEW YORK
Fiscal Agent of the United States
[
Circular No. 10482 1
October 4, 1991
IRAQI SANCTIONS REGULATIONS
Changes in List of Specially Designated Nationals
To All Depository Institutions, and Others
Concerned, in the Second Federal Reserve District:
The Office of Foreign Assets Control of the Department of the Treasury (FAC) has requested
that we notify you of (a) the removal of Arab Trans Trade Co., S.A.E. and Unimas Shipping from
the list of Specially Designated Nationals of Iraq, and (b) the granting of a license to permit trans
actions by United States persons with Geodesigns, England, in contemplation of its removal from
the SDN list.
Printed on the following pages is the FAC notice on this matter, and an excerpt from the Federal
Register of September 24, 1991 on the removals from the SDN list. Questions on this matter may
be directed to the persons specified in the FAC notice, or, at this Bank, to Bradley K. Sabel, Counsel
(Tel. No. 212-720-5041).
E. G erald C o r r ig a n ,
President.
rfA W IW O T W n
SEP 2 61391
FAC Ho. 124X26
MEMORANDUM FOR ALL FEDERAL RESERVE BANK PRESIDENTS
AND BRANCH BANK M A N ----FROM:
R, RICHARD NBWCOM]
DIRECTOR
OFFICE OF FOREIGN ASSETS CONTROL
SUBJECT!
Iraqi Sanctions! Removal of Names from the List of
Specially Designated Nationals of Iraq
This is a request for immediate action.
All Federal Reserve Banks, including branches a nd other offices,
are requested to notify all United States financial institutions,
including hut not limited to depository institutions, Edge and
Agreement Corporations, and U.8. branches and agencies of foreign
banks, in their districts of the following actions taken by the
Office of Foreign Assets Control ("FAC") concerning specially
designated nationals of Iraq and to instruct t h e m that accounts in
which those entities have an interest aire no longer blocked and
that transaction# concerning such accounts are permitted.
Two organizations have been removed from the list of specially
designated nationals of Iraqi (“Iraqi SUN list” ) published at 56 FR
13584 (April 3, 1991) and, therefore, are no longer subject to
blocking and to the prohibitions on transactions wi t h United States
persons
that would
apply to
individuals
and
organizations
determined to be within the term “Government of .I r aq.” Notice of
their removal is contained in 56 FR 48104 (September 24, 1991) •
They are:
Arab Trans Trade Co.,
36
Rouohdy, Alexandria 481 683, Egypt
unimas Shipping,
Alexandria, Egypt
183
El
Gehsh
Kafr
Road,
Abdou
P*o,
Street
Box
44
In addition, in contemplation of its r<smoval from the Iraqi SDN
list, the business, Geodesigns, England, United Kingdom, has been
licensed b y FAG to permit transactions with it by United states
persons.
-a
WARNING:
Neither removal from the list of specially deeignated
nationals of Iraq nor licensing b y the Office of Foreign Assets
Control authorizes any person to engage in activities that would
otherwise be prohibited by the Iraqi Sanctions Regulations, 31
C . r rSU Fart 575.
If you have any questions concerning this memorandum, please
contact either J. Robert McBrien, chief, International Programs, or
Donald Bridges at 202-566-5021 (FAX 202-377-7222).
For your
information, a copy of the referenced ££d££$UL Register notice (56
F R 48104) is attached.
Attachment
(OVER)
48104
FederalRegister / Vol. 56, No. 185 / T u esd ay , S ep tem b er 24, 1991 / R ules a n d R egulations
DEPARTMENT OF TH E TREASURY
Office of Foreign Assets Control
31 CFR Part 575
Iraqi Sanctions Regulations
AGENCY: Office of Foreign Assets
Control, Department of the Treasury.
ACTION: Final rule; amendments to the
list of specially designated nationals of
the Government of Iraq.
SUMMARY: The Iraqi Sanctions
Regulations, 31 CFR part 575 (56 FR
2112, Jan. 18,1991—the “Regulations”),
are being amended to remove two
names from appendix A, the list of
Individuals and Organizations
determined to be within the term
“Government of Iraq” (Specially
Designated Nationals of Iraq). Appendix
A contains the names of companies and
individuals which the Director of the
Office of Foreign Assets Control has
determined are owned or controlled by
or acting or purporting to act directly or
indirectly for the Government of Iraq.
The list may be expanded or amended
at any time.
EFFECTIVE DATE: September 24,1991.
ADDRESSES: Copies of this list are
available upon request at the following
location: Office of Foreign Assets
Control, U.S. Department of the
Treasury, Annex, 1500 Pennsylvania
Avenue, NW„ W ashington DC 20220.
FOR FURTHER INFORMATION CONTACT:
Richard J. Hollas, Chief, Enforcement
Section, Office of Foreign Assets
Control, Tel.: (202) 566-5021.
SUPPLEMENTARY INFORMATION: The
Regulations were issued by the Treasury
Department to implement Executive
Orders No. 12722 and 12724 of August 2
and August 9,1990, in which the
President declared a national emergency
with respect to Iraq, invoking the
authority, inter alia, of the International
Emergency Economic Powers Act (50
U.S.C. 1701 et seq.) and the United
Nations Participation Act (22 U.S.C.
287c), and ordering specific measures
against the Government of Iraq. An
amendment to the Regulations (56 FR
13584, Apr. 3,1991) added a new
appendix A, the list of Individuals and
Organizations Determined to be Within
the Term "Government of Iraq”
(Specially Designated Nationals of Iraq),
and a new appendix B, the list of
Merchant Vessels Registered, Owned or
Controlled by the Government of Iraq or
by Persons Acting Directly or Indirectly
on Behalf of the Government of Iraq.
This rule removes two names from
appendix A to part 575. The list consists
of companies and individuals which the
Director of the Office of Foreign Assets
Control has determined to be owned or
controlled by or to be acting or
purporting to act directly or indirectly
for the Government of Iraq, and which
thus fall within the definition of the
“Government of Iraq” contained in
§ 575.306 of the Regulations. The
persons included in appendix A are
subject to all prohibitions applicable to
other components of the Government of
Iraq. All unlicensed transactions with
such persons, or in property in which
they have an interest, are prohibited.
The list of specially designated
nationals is a partial one since FAC may
not be aw are of all the persons that
might be owned or controlled by the
Government of Iraq or acting as officers,
agents or front organizations for Iraq,
and which thus qualify as specially
designated nationals of the Government
of Iraq. Therefore, persons engaging in
transactions may not rely on the fact
that any particular person is not on the
specially designated nationals list as
evidence that it is not owned or
controlled by, or acting or purporting to
act directly or indirectly for, the
Government of Iraq. The Treasury
Department regards it as incumbent
upon all U.S. persons to take reasonable
steps to ascertain for themselves
whether persons they enter into
transactions with are owned or
controlled by the Government of Iraq or
are acting or purporting to act on its
behalf, or on behalf of other countries
subject to blocking or transportationrelated restrictions (at present,
Cambodia, Cuba, Libya, North Korea,
and Vietnam).
Pursuant to the Regulations, Arab
Trans Trade CoMS.A.E. and Unimas
Shipping were included in appendix A
to the Regulations, published in the
Federal Register on April 3,1991 (56 FR
13584) as specially designated nationals
of the Government of Iraq. Following a
review of additional information it has
been determined that Arab Trans Trade
Co., S.A.E. and Unimas Shipping are not
within the scope of the definition of the
“Government of Iraq” as defined in
§ 575.306 of the Regulations; and,
therefore, are removed from the list of
specially designated nationals of the
Government of Iraq.
Because the Regulations involve a
foreign affairs function, Executive Order
12291 and the provisions of the
Administrative Procedure Act, 5 U.S.C.
553, requiring notice of proposed
rulemaking, opportunity for public
participation, and delay in effective
date, are inapplicable. Because no
notice of proposed rulemaking is
required for this rule, the Regulatory
Flexibility Act, 5 U.S.C. 601 et seq., does
not apply.
List of Subjects in 31 CFR Part 575
Administrative practice and
procedure, Banks, Banking, Blocking of
assets, Foreign trade, Iraq, Penalties,
Reporting and recordkeeping
requirements, Securities, Specially
designated nationals. Travel
restrictions.
PART 575*— IRAQI SANCTIONS
REGULATIONS
For the reasons set forth in the
preamble, 31 CFR part 575 is amended
as set forth below:
1. The "Authority” citation for part
575 continues to read as follows:
Authority: 50 U.S.C. 1701 e t seq.; 50 U.S.C.
1601 e t seq.; 22 U.S.C. 287c; Pub. L 101-513.
104 Stat. 2047-55 (Nov. 5.1990): 3 U.S.C. 301;
E.0.12722, 55 FR 31803 (Aug. 3,1990); E.O.
12724, 55 FR 33089 (Aug. 13,1990).
Appendix A— Individuals and
Organizations Determined T o Be
Specially Designated Nationals of the
Government of Iraq
2. Appendix A to part 575 is amended
by removing the following names from
the list of companies:
Arab Trans Trade Co., S.A.E., 36 Kafr
Abdou Street, Rouchdy, Alexandria 481
683, Egypt;
Unimas Shipping, 183 El Geish Road,
P.O. Box 44, Alexandria, Egypt.
Dated: September 6,1991.
R. Richard Newcomb,
Director, Office of Foreign Assets Control.
Approved: September 13,1991.
Peter K. Nunez,
Assistant Secretary (Enforcement).
(FR Doc. 91-22945 Filed 9-23-91; 8:45 am]
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