Rule2023-20797
Publication of Venezuela Sanctions Regulations Web General License 42
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
September 26, 2023
Issuing agencies
Treasury DepartmentForeign Assets Control Office
Abstract
The Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing one general license (GL) issued pursuant to the Venezuela Sanctions Regulations: GL 42, which was previously made available on OFAC's website.
Full Text
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<title>Federal Register, Volume 88 Issue 185 (Tuesday, September 26, 2023)</title>
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[Federal Register Volume 88, Number 185 (Tuesday, September 26, 2023)]
[Rules and Regulations]
[Page 65816]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-20797]
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DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
31 CFR Part 591
Publication of Venezuela Sanctions Regulations Web General
License 42
AGENCY: Office of Foreign Assets Control, Treasury.
ACTION: Publication of a web general license.
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SUMMARY: The Department of the Treasury's Office of Foreign Assets
Control (OFAC) is publishing one general license (GL) issued pursuant
to the Venezuela Sanctions Regulations: GL 42, which was previously
made available on OFAC's website.
DATES: GL 42 was issued on May 1, 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 May 1, 2023, OFAC issued GL 42 to authorize certain transactions
otherwise prohibited by the Venezuela Sanctions Regulations, 31 CFR
part 591. GL 42 was made available on OFAC's website (<a href="https://ofac.treasury.gov/">https://ofac.treasury.gov/</a>) when it was issued. The text of this GL is provided
below.
OFFICE OF FOREIGN ASSETS CONTROL
Venezuela Sanctions Regulations
31 CFR Part 591
GENERAL LICENSE NO. 42
Authorizing Certain Transactions Related to the Negotiation of Certain
Settlement Agreements With the IV Venezuelan National Assembly and
Certain Other Persons
(a) Except as provided in paragraph (b) of this general license,
all transactions prohibited by the Venezuela Sanctions Regulations,
31 CFR part 591 (the VSR), that are ordinarily incident and
necessary to the negotiation of settlement agreements with the IV
Venezuelan National Assembly seated on January 5, 2016 (``IV
National Assembly''), its Delegated Commission, any entity
established by, or under the direction of, the IV National Assembly
to exercise its mandate (``IV National Assembly Entity''), or any
person appointed or designated by, or whose appointment or
designation is retained by, an IV National Assembly Entity, relating
to any debt of the Government of Venezuela, Petr[oacute]leos de
Venezuela, S.A. (PdVSA), or any entity in which PdVSA owns, directly
or indirectly, a 50 percent or greater interest are authorized.
Note 1 to paragraph (a). The authorization in paragraph (a) of
this general license includes the negotiation of settlement
agreements with persons appointed or designated by, or whose
appointment or designation is retained by, an IV National Assembly
Entity to the board of directors (including any ad hoc boards of
directors), or as an executive officer of a Government of Venezuela
entity (including entities owned or controlled, directly or
indirectly, by the Government of Venezuela).
(b) This general license does not authorize:
(1) Any transaction involving the Venezuelan National
Constituent Assembly convened by Nicolas Maduro or the National
Assembly seated on January 5, 2021, including their respective
members and staff; or
(2) Any transaction otherwise prohibited by the VSR, including
transactions involving any person blocked pursuant to the VSR other
than the blocked persons described in paragraph (a) of this general
license, unless separately authorized.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
Dated: May 1, 2023.
Bradley T. Smith,
Director, Office of Foreign Assets Control.
Note: This document was received for publication by the Office
of the Federal Register on September 20, 2023.
[FR Doc. 2023-20797 Filed 9-25-23; 8:45 am]
BILLING CODE 4810-AL-P
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</html>Indexed from Federal Register on September 26, 2023.
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