Rule2021-23331
Publication of Venezuela Web General License 8 and Subsequent Iterations
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
October 26, 2021
Issuing agencies
Treasury DepartmentForeign Assets Control Office
Abstract
The Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing nine Venezuela web general licenses (GLs) in the Federal Register: GL 8, GL 8A, GL 8B, GL 8C, GL 8D, GL 8E, GL 8F, and GL 8G, each of which is now expired and was previously issued on OFAC's website, as well as GL 8H, which was also previously issued on OFAC's website and expires on December 1, 2021.
Full Text
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<title>Federal Register, Volume 86 Issue 204 (Tuesday, October 26, 2021)</title>
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[Federal Register Volume 86, Number 204 (Tuesday, October 26, 2021)]
[Rules and Regulations]
[Pages 59024-59029]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2021-23331]
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DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
31 CFR Part 591
Publication of Venezuela Web General License 8 and Subsequent
Iterations
AGENCY: Office of Foreign Assets Control, Treasury.
ACTION: Publication of web general licenses.
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SUMMARY: The Department of the Treasury's Office of Foreign Assets
Control (OFAC) is publishing nine Venezuela web general licenses (GLs)
in the Federal Register: GL 8, GL 8A, GL 8B, GL 8C, GL 8D, GL 8E, GL
8F, and GL 8G, each of which is now expired and was previously issued
on OFAC's website, as well as GL 8H, which was also previously issued
on OFAC's website and expires on December 1, 2021.
DATES: GL 8H was issued on June 1, 2021 and expires on December 1,
2021. See SUPPLEMENTARY INFORMATION of this rule for additional
relevant dates.
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.
SUPPLEMENTARY INFORMATION:
[[Page 59025]]
Electronic Availability
This document and additional information concerning OFAC are
available on OFAC's website: <a href="http://www.treasury.gov/ofac">www.treasury.gov/ofac</a>.
Background
On March 8, 2015, the President, invoking the authority of, inter
alia, the International Emergency Economic Powers Act (50 U.S.C. 1701-
1706), issued Executive Order (E.O.) 13692, ``Blocking Property and
Suspending Entry of Persons Contributing to the Situation in
Venezuela'' (80 FR 12747, March 11, 2015). In E.O. 13692, the President
found that the situation in Venezuela, including the Government of
Venezuela's erosion of human rights guarantees, persecution of
political opponents, curtailment of press freedoms, use of violence and
human rights violations and abuses in response to antigovernment
protests, and arbitrary arrest and detention of antigovernment
protestors, as well as the exacerbating presence of significant public
corruption, constitutes an unusual and extraordinary threat to the
national security and foreign policy of the United States, and declared
a national emergency to deal with that threat.
The President issued six additional E.O.s pursuant to the national
emergency declared in E.O. 13692: E.O. 13808 of August 24, 2017,
``Imposing Additional Sanctions With Respect to the Situation in
Venezuela'' (82 FR 41155, August 29, 2017); E.O. 13827 of March 19,
2018, ``Taking Additional Steps to Address the Situation in Venezuela''
(83 FR 12469, March 21, 2018); E.O. 13835 of May 21, 2018,
``Prohibiting Certain Additional Transactions With Respect to
Venezuela'' (83 FR 24001, May 24, 2018) (E.O. 13835); E.O. 13850 of
November 1, 2018, ``Blocking Property of Additional Persons
Contributing to the Situation in Venezuela'' (83 FR 55243, November 2,
2018); E.O. 13857 of January 25, 2019, ``Taking Additional Steps To
Address the National Emergency With Respect to Venezuela'' (84 FR 509,
January 30, 2019); and E.O. 13884 of August 5, 2019, ``Blocking
Property of the Government of Venezuela'' (84 FR 38843, August 7,
2019).
OFAC, in consultation with the Department of State, issued GL 8 on
January 28, 2019, pursuant to E.O. 13850, as amended, to authorize
certain entities and their subsidiaries to engage in transactions and
activities ordinarily incident and necessary to operations in Venezuela
involving Petr[oacute]leos de Venezuela, S.A. (PdVSA) or any entity in
which PdVSA owns, directly or indirectly, a 50 percent or greater
interest, that were otherwise prohibited by E.O. 13850, through 12:01
a.m. eastern daylight time, July 27, 2019. Subsequently, OFAC issued
eight further iterations of GL 8, which extended the period and
modified the scope of the authorization.
On June 6, 2019, OFAC issued GL 8A, which replaced and superseded
GL 8; on July 26, 2019, OFAC issued GL 8B, which replaced and
superseded GL 8A; on August 5, 2019, OFAC issued GL 8C, which replaced
and superseded GL 8B; on October 21, 2019, OFAC issued GL 8D, which
replaced and superseded GL 8C; on January 17, 2020, OFAC issued GL 8E,
which replaced and superseded GL 8D; on April 21, 2020, OFAC issued GL
8F, which replaced and superseded GL 8E; on November 17, 2020, OFAC
issued GL 8G, which replaced and superseded GL 8F; and on June 1, 2021,
OFAC issued GL 8H, which replaced and superseded GL 8G. GL 8H expires
on December 1, 2021. The texts of the following nine Venezuela GLs are
provided below: GLs 8, 8A, 8B, 8C, 8D, 8E, 8F, 8G, and 8H.
OFFICE OF FOREIGN ASSETS CONTROL
Executive Order 13850 of November 1, 2018
Blocking Property of Additional Persons Contributing to the Situation
in Venezuela
General License No. 8
Authorizing Transactions Involving Petr[oacute]leos de Venezuela, S.A.
(PdVSA) Prohibited by Executive Order 13850 for Certain Entities
Operating in Venezuela
(a) Except as provided in paragraph (b) of this general license,
all transactions and activities ordinarily incident and necessary to
operations in Venezuela involving PdVSA or any entity in which PdVSA
owns, directly or indirectly, a 50 percent or greater interest
prohibited by Executive Order 13850 are authorized through 12:01 a.m.
eastern daylight time, July 27, 2019 for the following entities and
their subsidiaries:
<bullet> Chevron Corporation
<bullet> Halliburton
<bullet> Schlumberger Limited
<bullet> Baker Hughes, a GE Company
<bullet> Weatherford International, Public Limited Company
(b) This general license does not authorize:
(1) Any exportation or reexportation of diluents from the United
States to Venezuela; or
(2) Any transaction that is otherwise prohibited under Executive
Order 13850 of November 1, 2018, Executive Order 13835 of May 21, 2018,
Executive Order 13827 of March 19, 2018, Executive Order 13808 of
August 24, 2017, Executive Order 13692 of March 8, 2015, or any part of
31 CFR chapter V, or any transactions or dealings with any blocked
person other than the blocked persons described in paragraph (a) of
this general license.
Andrea Gacki,
Director, Office of Foreign Assets Control.
Dated: January 28, 2019.
OFFICE OF FOREIGN ASSETS CONTROL
Executive Order 13850 of November 1, 2018
Blocking Property of Additional Persons Contributing to the Situation
in Venezuela
General License No. 8A
Authorizing Transactions Involving Petr[oacute]leos de Venezuela, S.A.
(PdVSA) Prohibited by Executive Order 13850 for Certain Entities
Operating in Venezuela
(a) Except as provided in paragraph (b) of this general license,
all transactions and activities ordinarily incident and necessary to
operations in Venezuela involving PdVSA or any entity in which PdVSA
owns, directly or indirectly, a 50 percent or greater interest
prohibited by Executive Order (E.O.) 13850, as amended by E.O. 13857 of
January 25, 2019, are authorized through 12:01 a.m. eastern daylight
time, July 27, 2019 for the following entities and their subsidiaries:
<bullet> Chevron Corporation
<bullet> Halliburton
<bullet> Schlumberger Limited
<bullet> Baker Hughes, a GE Company
<bullet> Weatherford International, Public Limited Company
(b) This general license does not authorize:
(1) Any transactions or dealings related to the exportation or
reexportation of diluents, directly or indirectly, to Venezuela; or
(2) Any transaction that is otherwise prohibited by E.O. 13850,
E.O. 13835 of May 21, 2018, E.O. 13827 of March 19, 2018, E.O. 13808 of
August 24, 2017, E.O. 13692 of March 8, 2015, or any part of 31 CFR
chapter V, or any transactions or dealings with any blocked person
other than the blocked persons described in paragraph (a) of this
general license.
[[Page 59026]]
(c) Effective June 6, 2019, General License No. 8, dated January
28, 2019, is replaced and superseded in its entirety by this General
License 8A.
Andrea Gacki,
Director, Office of Foreign Assets Control.
Dated: June 6, 2019.
OFFICE OF FOREIGN ASSETS CONTROL
Executive Order 13850 of November 1, 2018
Blocking Property of Additional Persons Contributing to the Situation
in Venezuela
General License No. 8B
Authorizing Transactions Involving Petr[oacute]leos de Venezuela, S.A.
(PdVSA) Necessary for Maintenance of Operations for Certain Entities in
Venezuela
(a) Except as provided in paragraph (b) of this general license,
all transactions and activities ordinarily incident and necessary to
the maintenance of operations, contracts, or other agreements in
Venezuela involving PdVSA or any entity in which PdVSA owns, directly
or indirectly, a 50 percent or greater interest prohibited by Executive
Order (E.O.) 13850, as amended by E.O. 13857 of January 25, 2019, and
that were in effect prior to July 26, 2019, are authorized through
12:01 a.m. eastern daylight time, October 25, 2019 for the following
entities and their subsidiaries:
<bullet> Chevron Corporation
<bullet> Halliburton
<bullet> Schlumberger Limited
<bullet> Baker Hughes, a GE Company
<bullet> Weatherford International, Public Limited Company
(b) This general license does not authorize:
(1) Any transactions or dealings related to the exportation or
reexportation of diluents, directly or indirectly, to Venezuela; or
(2) Any transaction that is otherwise prohibited by E.O. 13850,
E.O. 13835 of May 21, 2018, E.O. 13827 of March 19, 2018, E.O. 13808 of
August 24, 2017, E.O. 13692 of March 8, 2015, or any part of 31 CFR
chapter V, or any transactions or dealings with any blocked person
other than the blocked persons described in paragraph (a) of this
general license.
(c) Effective July 26, 2019, General License No. 8A, dated June 6,
2019, is replaced and superseded in its entirety by this General
License 8B.
Andrea Gacki,
Director, Office of Foreign Assets Control.
Dated: July 26, 2019.
OFFICE OF FOREIGN ASSETS CONTROL
Executive Order 13850 of November 1, 2018
Blocking Property of Additional Persons Contributing to the Situation
in Venezuela
Executive Order of August 5, 2019
Blocking Property of the Government of Venezuela
General License NO. 8C
Authorizing Transactions Involving Petr[oacute]leos de Venezuela, S.A.
(PdVSA) Necessary for Maintenance of Operations for Certain Entities in
Venezuela
(a) Except as provided in paragraph (b) of this general license,
all transactions and activities ordinarily incident and necessary to
the maintenance of operations, contracts, or other agreements in
Venezuela involving PdVSA or any entity in which PdVSA owns, directly
or indirectly, a 50 percent or greater interest prohibited by Executive
Order (E.O.) 13850, as amended by E.O. 13857 of January 25, 2019, or
E.O. of August 5, 2019, and that were in effect prior to July 26, 2019,
are authorized through 12:01 a.m. eastern daylight time, October 25,
2019 for the following entities and their subsidiaries:
<bullet> Chevron Corporation
<bullet> Halliburton
<bullet> Schlumberger Limited
<bullet> Baker Hughes, a GE Company
<bullet> Weatherford International, Public Limited Company
(b) This general license does not authorize:
(1) Any transactions or dealings related to the exportation or
reexportation of diluents, directly or indirectly, to Venezuela; or
(2) Any transaction that is otherwise prohibited by E.O. of August
5, 2019, or E.O. 13850, E.O. 13835 of May 21, 2018, E.O. 13827 of March
19, 2018, E.O. 13808 of August 24, 2017, or E.O. 13692 of March 8,
2015, or any part of 31 CFR chapter V, or any transactions or dealings
with any blocked person other than the blocked persons described in
paragraph (a) of this general license.
(c) Effective August 5, 2019, General License No. 8B, dated July
26, 2019, is replaced and superseded in its entirety by this General
License 8C.
Andrea Gacki,
Director, Office of Foreign Assets Control.
Dated: August 5, 2019.
OFFICE OF FOREIGN ASSETS CONTROL
Executive Order 13850 of November 1, 2018
Blocking Property of Additional Persons Contributing to the Situation
in Venezuela
Executive Order 13884 of August 5, 2019
Blocking Property of the Government of Venezuela
General License No. 8D
Authorizing Transactions Involving Petr[oacute]leos de Venezuela, S.A.
(PdVSA) Necessary for Maintenance of Operations for Certain Entities in
Venezuela
(a) Except as provided in paragraph (b) of this general license,
all transactions and activities ordinarily incident and necessary to
the maintenance of operations, contracts, or other agreements in
Venezuela involving PdVSA or any entity in which PdVSA owns, directly
or indirectly, a 50 percent or greater interest prohibited by Executive
Order (E.O.) 13850, as amended by E.O. 13857 of January 25, 2019, or
E.O. 13884, and that were in effect prior to July 26, 2019, are
authorized through 12:01 a.m. eastern standard time, January 22, 2020
for the following entities and their subsidiaries:
<bullet> Chevron Corporation
<bullet> Halliburton
<bullet> Schlumberger Limited
<bullet> Baker Hughes, a GE Company
<bullet> Weatherford International, Public Limited Company
(b) This general license does not authorize:
(1) Any transactions or dealings related to the exportation or
reexportation of diluents, directly or indirectly, to Venezuela; or
(2) Any transaction that is otherwise prohibited by E.O. 13884, or
E.O. 13850, E.O. 13835 of May 21, 2018, E.O. 13827 of March 19, 2018,
E.O. 13808 of August 24, 2017, or E.O. 13692 of March 8, 2015, each as
amended by E.O. 13857, or any part of 31 CFR chapter V, or any
transactions or dealings with any blocked person other than the blocked
persons described in paragraph (a) of this general license.
(c) Effective October 21, 2019, General License No. 8C, dated
August 5, 2019, is replaced and superseded in its entirety by this
General License 8D.
Andrea Gacki,
Director, Office of Foreign Assets Control.
Dated: October 21, 2019.
[[Page 59027]]
OFFICE OF FOREIGN ASSETS CONTROL
Executive Order 13850 of November 1, 2018
Blocking Property of Additional Persons Contributing to the Situation
in Venezuela
Executive Order 13884 of August 5, 2019
Blocking Property of the Government of Venezuela
General License No. 8E
Authorizing Transactions Involving Petr[oacute]leos de Venezuela, S.A.
(PdVSA) Necessary for Maintenance of Operations for Certain Entities in
Venezuela
(a) Except as provided in paragraph (b) of this general license,
all transactions and activities ordinarily incident and necessary to
the maintenance of operations, contracts, or other agreements in
Venezuela involving PdVSA or any entity in which PdVSA owns, directly
or indirectly, a 50 percent or greater interest prohibited by Executive
Order (E.O.) 13850, as amended by E.O. 13857 of January 25, 2019, or
E.O. 13884, and that were in effect prior to July 26, 2019, are
authorized through 12:01 a.m. eastern daylight time, April 22, 2020 for
the following entities and their subsidiaries:
<bullet> Chevron Corporation
<bullet> Halliburton
<bullet> Schlumberger Limited
<bullet> Baker Hughes, a GE Company
<bullet> Weatherford International, Public Limited Company
(b) This general license does not authorize:
(1) Any transactions or dealings related to the exportation or
reexportation of diluents, directly or indirectly, to Venezuela; or
(2) Any transaction that is otherwise prohibited by E.O. 13884, or
E.O. 13850, E.O. 13835 of May 21, 2018, E.O. 13827 of March 19, 2018,
E.O. 13808 of August 24, 2017, or E.O. 13692 of March 8, 2015, each as
amended by E.O. 13857, or any part of 31 CFR chapter V, or any
transactions or dealings with any blocked person other than the blocked
persons described in paragraph (a) of this general license.
(c) Effective January 17, 2020, General License No. 8D, dated
October 21, 2019, is replaced and superseded in its entirety by this
General License No. 8E.
Andrea Gacki,
Director, Office of Foreign Assets Control.
Dated: January 17, 2019.
OFFICE OF FOREIGN ASSETS CONTROL
Venezuela Sanctions Regulations 31 CFR Part 591
General License No. 8F
Authorizing Transactions Involving Petr[oacute]leos de Venezuela, S.A.
(PdVSA) Necessary for the Limited Maintenance of Essential Operations
in Venezuela or the Wind Down of Operations in Venezuela for Certain
Entities
(a) Except as provided in paragraphs (c) and (d) of this general
license, all transactions and activities prohibited by Executive Order
(E.O.) 13850 of November 1, 2018, as amended by E.O. 13857 of January
25, 2019, or E.O. 13884 of August 5, 2019, each as incorporated into
the Venezuela Sanctions Regulations, 31 CFR part 591 (the VSR), that
are ordinarily incident and necessary to the limited maintenance of
essential operations, contracts, or other agreements, that: (i) Are for
safety or the preservation of assets in Venezuela; (ii) involve PdVSA
or any entity in which PdVSA owns, directly or indirectly, a 50 percent
or greater interest; and (iii) were in effect prior to July 26, 2019,
are authorized through 12:01 a.m. eastern standard time, December 1,
2020, for the following entities and their subsidiaries (collectively,
the ``Covered Entities''):
<bullet> Chevron Corporation
<bullet> Halliburton
<bullet> Schlumberger Limited
<bullet> Baker Hughes, a GE Company
<bullet> Weatherford International, Public Limited Company
Note to paragraph (a): Transactions and activities necessary for
safety or the preservation of assets in Venezuela that are authorized
by paragraph (a) of this general license include: Transactions and
activities necessary to ensure the safety of personnel, or the
integrity of operations and assets in Venezuela; participation in
shareholder and board of directors meetings; making payments on third-
party invoices for transactions and activities authorized by paragraph
(a) of this general license, or incurred prior to April 21, 2020,
provided such activity was authorized at the time it occurred; payment
of local taxes and purchase of utility services in Venezuela; and
payment of salaries for employees and contractors in Venezuela.
(b) Except as provided in paragraph (d) of this general license,
all transactions and activities prohibited by E.O. 13850, as amended,
or E.O. 13884, each as incorporated into the VSR, that are ordinarily
incident and necessary to the wind down of operations, contracts, or
other agreements in Venezuela involving PdVSA or any entity in which
PdVSA owns, directly or indirectly, a 50 percent or greater interest,
and that were in effect prior to July 26, 2019, are authorized through
12:01 a.m. eastern standard time, December 1, 2020, for the Covered
Entities.
(c) Paragraph (a) of this general license does not authorize:
(1) The drilling, lifting, or processing of, purchase or sale of,
or transport or shipping of any Venezuelan-origin petroleum or
petroleum products;
(2) The provision or receipt of insurance or reinsurance with
respect to the transactions and activities described in paragraph
(c)(1) of this general license;
(3) The design, construction, installation, repair, or improvement
of any wells or other facilities or infrastructure in Venezuela or the
purchasing or provision of any goods or services, except as required
for safety;
(4) Contracting for additional personnel or services, except as
required for safety; or
(5) The payment of any dividend, including in kind, to PdVSA, or
any entity in which PdVSA owns, directly or indirectly, a 50 percent or
greater interest.
(d) This general license does not authorize:
(1) Any transactions or dealings related to the exportation or
reexportation of diluents, directly or indirectly, to Venezuela;
(2) Any loans to, accrual of additional debt by, or subsidization
of PdVSA, or any entity in which PdVSA owns, directly or indirectly, a
50 percent or greater interest, including in kind, prohibited by E.O.
13808 of August 24, 2017, as amended by E.O. 13857, and incorporated
into the VSR; or
(3) Any transactions or activities otherwise prohibited by the VSR,
or any other part of 31 CFR chapter V, or any transactions or
activities with any blocked person other than the blocked persons
identified in paragraphs (a) and (b) of this general license.
(e) Effective April 21, 2020, General License No. 8E, dated January
17, 2020, is replaced and superseded in its entirety by this General
License No. 8F.
Andrea Gacki,
Director, Office of Foreign Assets Control.
Dated: April 21, 2020.
[[Page 59028]]
OFFICE OF FOREIGN ASSETS CONTROL
Venezuela Sanctions Regulations 31 CFR Part 591
General License No. 8G
Authorizing Transactions Involving Petr[oacute]leos de Venezuela, S.A.
(PdVSA) Necessary for the Limited Maintenance of Essential Operations
in Venezuela or the Wind Down of Operations in Venezuela for Certain
Entities
(a) Except as provided in paragraphs (c) and (d) of this general
license, all transactions and activities prohibited by Executive Order
(E.O.) 13850 of November 1, 2018, as amended by E.O. 13857 of January
25, 2019, or E.O. 13884 of August 5, 2019, each as incorporated into
the Venezuela Sanctions Regulations, 31 CFR part 591 (the VSR), that
are ordinarily incident and necessary to the limited maintenance of
essential operations, contracts, or other agreements, that: (i) Are for
safety or the preservation of assets in Venezuela; (ii) involve PdVSA
or any entity in which PdVSA owns, directly or indirectly, a 50 percent
or greater interest; and (iii) were in effect prior to July 26, 2019,
are authorized through 12:01 a.m. eastern daylight time, June 3, 2021,
for the following entities and their subsidiaries (collectively, the
``Covered Entities''):
<bullet> Chevron Corporation
<bullet> Halliburton
<bullet> Schlumberger Limited
<bullet> Baker Hughes, a GE Company
<bullet> Weatherford International, Public Limited Company
Note to paragraph (a): Transactions and activities necessary for
safety or the preservation of assets in Venezuela that are authorized
by paragraph (a) of this general license include: Transactions and
activities necessary to ensure the safety of personnel, or the
integrity of operations and assets in Venezuela; participation in
shareholder and board of directors meetings; making payments on third-
party invoices for transactions and activities authorized by paragraph
(a) of this general license, or incurred prior to April 21, 2020,
provided such activity was authorized at the time it occurred; payment
of local taxes and purchase of utility services in Venezuela; and
payment of salaries for employees and contractors in Venezuela.
(b) Except as provided in paragraph (d) of this general license,
all transactions and activities prohibited by E.O. 13850, as amended,
or E.O. 13884, each as incorporated into the VSR, that are ordinarily
incident and necessary to the wind down of operations, contracts, or
other agreements in Venezuela involving PdVSA or any entity in which
PdVSA owns, directly or indirectly, a 50 percent or greater interest,
and that were in effect prior to July 26, 2019, are authorized through
12:01 a.m. eastern daylight time, June 3, 2021, for the Covered
Entities.
(c) Paragraph (a) of this general license does not authorize:
(1) The drilling, lifting, or processing of, purchase or sale of,
or transport or shipping of any Venezuelan-origin petroleum or
petroleum products;
(2) The provision or receipt of insurance or reinsurance with
respect to the transactions and activities described in paragraph
(c)(1) of this general license;
(3) The design, construction, installation, repair, or improvement
of any wells or other facilities or infrastructure in Venezuela or the
purchasing or provision of any goods or services, except as required
for safety;
(4) Contracting for additional personnel or services, except as
required for safety; or
(5) The payment of any dividend, including in kind, to PdVSA, or
any entity in which PdVSA owns, directly or indirectly, a 50 percent or
greater interest.
(d) This general license does not authorize:
(1) Any transactions or dealings related to the exportation or
reexportation of diluents, directly or indirectly, to Venezuela;
(2) Any loans to, accrual of additional debt by, or subsidization
of PdVSA, or any entity in which PdVSA owns, directly or indirectly, a
50 percent or greater interest, including in kind, prohibited by E.O.
13808 of August 24, 2017, as amended by E.O. 13857, and incorporated
into the VSR; or
(3) Any transactions or activities otherwise prohibited by the VSR,
or any other part of 31 CFR chapter V, or any transactions or
activities with any blocked person other than the blocked persons
identified in paragraphs (a) and (b) of this general license.
(e) Effective November 17, 2020, General License No. 8F, dated
April 21, 2020, is replaced and superseded in its entirety by this
General License No. 8G.
Andrea Gacki,
Director, Office of Foreign Assets Control.
Dated: November 17, 2020.
OFFICE OF FOREIGN ASSETS CONTROL
Venezuela Sanctions Regulations 31 CFR Part 591
General License No. 8H
Authorizing Transactions Involving Petr[oacute]leos de Venezuela, S.A.
(PdVSA) Necessary for the Limited Maintenance of Essential Operations
in Venezuela or the Wind Down of Operations in Venezuela for Certain
Entities
(a) Except as provided in paragraphs (c) and (d) of this general
license, all transactions and activities prohibited by Executive Order
(E.O.) 13850 of November 1, 2018, as amended by E.O. 13857 of January
25, 2019, or E.O. 13884 of August 5, 2019, each as incorporated into
the Venezuela Sanctions Regulations, 31 CFR part 591 (the VSR), that
are ordinarily incident and necessary to the limited maintenance of
essential operations, contracts, or other agreements, that: (i) Are for
safety or the preservation of assets in Venezuela; (ii) involve PdVSA
or any entity in which PdVSA owns, directly or indirectly, a 50 percent
or greater interest; and (iii) were in effect prior to July 26, 2019,
are authorized through 12:01 a.m. eastern standard time, December 1,
2021, for the following entities and their subsidiaries (collectively,
the ``Covered Entities''):
<bullet> Chevron Corporation
<bullet> Halliburton
<bullet> Schlumberger Limited
<bullet> Baker Hughes Holdings LLC
<bullet> Weatherford International, Public Limited Company
Note to paragraph (a): Transactions and activities necessary for
safety or the preservation of assets in Venezuela that are authorized
by paragraph (a) of this general license include: Transactions and
activities necessary to ensure the safety of personnel, or the
integrity of operations and assets in Venezuela; participation in
shareholder and board of directors meetings; making payments on third-
party invoices for transactions and activities authorized by paragraph
(a) of this general license, or incurred prior to April 21, 2020,
provided such activity was authorized at the time it occurred; payment
of local taxes and purchase of utility services in Venezuela; and
payment of salaries for employees and contractors in Venezuela.
(b) Except as provided in paragraph (d) of this general license,
all transactions and activities prohibited by E.O. 13850, as amended,
or E.O. 13884, each as incorporated into the VSR, that are ordinarily
incident and necessary to the wind down of operations, contracts, or
other agreements in Venezuela
[[Page 59029]]
involving PdVSA or any entity in which PdVSA owns, directly or
indirectly, a 50 percent or greater interest, and that were in effect
prior to July 26, 2019, are authorized through 12:01 a.m. eastern
standard time, December 1, 2021, for the Covered Entities.
(c) Paragraph (a) of this general license does not authorize:
(1) The drilling, lifting, or processing of, purchase or sale of,
or transport or shipping of any Venezuelan-origin petroleum or
petroleum products;
(2) The provision or receipt of insurance or reinsurance with
respect to the transactions and activities described in paragraph
(c)(1) of this general license;
(3) The design, construction, installation, repair, or improvement
of any wells or other facilities or infrastructure in Venezuela or the
purchasing or provision of any goods or services, except as required
for safety;
(4) Contracting for additional personnel or services, except as
required for safety; or
(5) The payment of any dividend, including in kind, to PdVSA, or
any entity in which PdVSA owns, directly or indirectly, a 50 percent or
greater interest.
(d) This general license does not authorize:
(1) Any transactions or dealings related to the exportation or
reexportation of diluents, directly or indirectly, to Venezuela;
(2) Any loans to, accrual of additional debt by, or subsidization
of PdVSA, or any entity in which PdVSA owns, directly or indirectly, a
50 percent or greater interest, including in kind, prohibited by E.O.
13808 of August 24, 2017, as amended by E.O. 13857, and incorporated
into the VSR; or
(3) Any transactions or activities otherwise prohibited by the VSR,
or any other part of 31 CFR chapter V, or any transactions or
activities with any blocked person other than the blocked persons
identified in paragraphs (a) and (b) of this general license.
(e) Effective June 1, 2021, General License No. 8G, dated November
17, 2020, is replaced and superseded in its entirety by this General
License No. 8H.
Bradley T. Smith,
Acting Director, Office of Foreign Assets Control.
Dated: June 1, 2021.
Dated: October 21, 2021.
Bradley T. Smith,
Acting Director, Office of Foreign Assets Control.
[FR Doc. 2021-23331 Filed 10-25-21; 8:45 am]
BILLING CODE 4810-AL-P
</pre></body>
</html>Indexed from Federal Register on October 26, 2021.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.