Rule2022-17644
Publication of Venezuela Sanctions Regulations Web General Licenses 8I and 8J
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
August 17, 2022
Issuing agencies
Treasury DepartmentForeign Assets Control Office
Abstract
The Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing two general licenses (GLs) issued in the Venezuela Sanctions program: GL 8I, which was previously made available on OFAC's website and is now expired, and GL 8J, which was also previously made available on OFAC's website and expires on December 1, 2022.
Full Text
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<title>Federal Register, Volume 87 Issue 158 (Wednesday, August 17, 2022)</title>
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[Federal Register Volume 87, Number 158 (Wednesday, August 17, 2022)]
[Rules and Regulations]
[Pages 50572-50574]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-17644]
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DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
31 CFR Part 591
Publication of Venezuela Sanctions Regulations Web General
Licenses 8I and 8J
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
[[Page 50573]]
Control (OFAC) is publishing two general licenses (GLs) issued in the
Venezuela Sanctions program: GL 8I, which was previously made available
on OFAC's website and is now expired, and GL 8J, which was also
previously made available on OFAC's website and expires on December 1,
2022.
DATES: GL 8I was issued on November 24, 2021. GL 8J was issued on May
27, 2022. See SUPPLEMENTARY INFORMATION 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:
Electronic Availability
This document and additional information concerning OFAC are
available on OFAC's website: <a href="http://www.treas.gov/ofac">www.treas.gov/ofac</a>.
Background
On November 24, 2021, OFAC issued GL 8I to authorize certain
transactions otherwise prohibited by the Venezuela Sanctions
Regulations, 31 CFR part 591. GL 8I had an expiration date of June 1,
2022. On May 27, 2022, OFAC issued GL 8J, replacing and superseding GL
8I, to authorize certain transactions otherwise prohibited by the
Venezuela Sanctions Regulations, 31 CFR part 591. GL 8J expires on
December 1, 2022. At the time of issuance, GLs 8I and 8J each were made
available on OFAC's website (<a href="http://www.treas.gov/ofac">www.treas.gov/ofac</a>). The text of GLs 8I
and 8J is provided below.
OFFICE OF FOREIGN ASSETS CONTROL
Venezuela Sanctions Regulations 31 CFR Part 591
GENERAL LICENSE NO. 8I
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 1, 2022, 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 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 1,
2022, 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 24, 2021, General License No. 8H, dated
June 1, 2021, is replaced and superseded in its entirety by this
General License No. 8I.
Bradley T. Smith,
Acting Director, Office of Foreign Assets Control
Dated: November 24, 2021
OFFICE OF FOREIGN ASSETS CONTROL
Venezuela Sanctions Regulations 31 CFR Part 591
GENERAL LICENSE NO. 8J
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, 2022, 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
[[Page 50574]]
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, 2022, 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 May 27, 2022, General License No. 8I, dated
November 24, 2021, is replaced and superseded in its entirety by
this General License No. 8J.
Andrea M. Gacki,
Director, Office of Foreign Assets Control
Dated: May 27, 2022
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
[FR Doc. 2022-17644 Filed 8-16-22; 8:45 am]
BILLING CODE 4810-AL-P
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</html>Indexed from Federal Register on August 17, 2022.
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