Rule2023-16729
Publication of Venezuela Sanctions Regulations Web General Licenses 5K and 5L.
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 7, 2023
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 pursuant to the Venezuela Sanctions Regulations: GLs 5K and 5L, each of which was previously made available on OFAC's website.
Full Text
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<title>Federal Register, Volume 88 Issue 150 (Monday, August 7, 2023)</title>
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[Federal Register Volume 88, Number 150 (Monday, August 7, 2023)]
[Rules and Regulations]
[Page 52039]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-16729]
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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 5K and 5L.
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 two general licenses (GLs) issued pursuant
to the Venezuela Sanctions Regulations: GLs 5K and 5L, each of which
was previously made available on OFAC's website.
DATES: GL 5K was issued on April 19, 2023. 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 Compliance, 202-622-2490.
SUPPLEMENTARY INFORMATION:
Electronic Availability
This document and additional information concerning OFAC are
available on OFAC's website: <a href="https://ofac.treasury.gov/">https://ofac.treasury.gov/</a>.
Background
On April 19, 2023, OFAC issued GL 5K to further delay the
effectiveness of the authorization that was previously contained in GL
5. GL 5K was the twelfth iteration of GL 5 and superseded GL 5J (88 FR
6624). On July 19, 2023, OFAC issued GL 5L, which superseded GL 5K and
further delayed the effectiveness of the authorization that was
contained in GL 5. Both GLs were made available on OFAC's website
(<a href="https://ofac.treasury.gov">https://ofac.treasury.gov</a>) when they were issued. The text of these
GLs is provided below.
OFFICE OF FOREIGN ASSETS CONTROL
Venezuela Sanctions Regulations
31 CFR Part 591
GENERAL LICENSE NO. 5K
Authorizing Certain Transactions Related to the Petr[oacute]leos de
Venezuela, S.A. 2020 8.5 Percent Bond on or After July 20, 2023
(a) Except as provided in paragraph (b) of this general license, on
or after July 20, 2023, all transactions related to, the provision of
financing for, and other dealings in the Petr[oacute]leos de Venezuela,
S.A. 2020 8.5 Percent Bond that would be prohibited by subsection
l(a)(iii) of Executive Order (E.O.) 13835 of May 21, 2018, as amended
by E.O. 13857 of January 25, 2019, and incorporated into the Venezuela
Sanctions Regulations, 31 CFR part 591 (the VSR), are authorized.
(b) This general license does not authorize any transactions or
activities otherwise prohibited by the VSR, or any other part of 31 CFR
chapter V.
(c) Effective April 19, 2023, General License No. 5J, dated January
17, 2023, is replaced and superseded in its entirety by this General
License No. 5K.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
Dated: April 19, 2023.
OFFICE OF FOREIGN ASSETS CONTROL
Venezuela Sanctions Regulations
31 CFR Part 591
GENERAL LICENSE NO. 5L
Authorizing Certain Transactions Related to the Petr[oacute]leos de
Venezuela, S.A. 2020 8.5 Percent Bond on or After October 20, 2023
(a) Except as provided in paragraph (b) of this general license, on
or after October 20, 2023, all transactions related to, the provision
of financing for, and other dealings in the Petr[oacute]leos de
Venezuela, S.A. 2020 8.5 Percent Bond that would be prohibited by
subsection l(a)(iii) of Executive Order (E.O.) 13835 of May 21, 2018,
as amended by E.O. 13857 of January 25, 2019, and incorporated into the
Venezuela Sanctions Regulations, 31 CFR part 591 (the VSR), are
authorized.
(b) This general license does not authorize any transactions or
activities otherwise prohibited by the VSR, or any other part of 31 CFR
chapter V.
(c) Effective July 19, 2023, General License No. 5K, dated April
19, 2023, is replaced and superseded in its entirety by this General
License No. 5L.
Bradley T. Smith,
Deputy Director, Office of Foreign Assets Control.
Dated: July 19, 2023.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
[FR Doc. 2023-16729 Filed 8-4-23; 8:45 am]
BILLING CODE 4810-AL-P
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</html>Indexed from Federal Register on August 7, 2023.
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