PKCS11 translate ciphertext under different key

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I'm using PKCS11 network HSM (Safenet). I have data which is encrypted under key #1. I want to use HSM to protect it securely under key #2 without ever exposing data in plaintext outside HSM. Both key #1 and key #2 are available to me as handles from HSM. I know that for wrapped keys it's easy to translate protection to different wrapping key - if you have wrapped key, just unwrap with one key and wrap with another. Is it possible with data?

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