Publication of Venezuela Sanctions Regulations Web General License 40C

Primary source

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Published

August 21, 2024

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 40C, which was previously made available on OFAC's website.

Full Text

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<title>Federal Register, Volume 89 Issue 162 (Wednesday, August 21, 2024)</title>
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[Federal Register Volume 89, Number 162 (Wednesday, August 21, 2024)]
[Rules and Regulations]
[Pages 67557-67558]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-18754]


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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 40C

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 40C, which was previously 
made available on OFAC's website.

DATES: GL 40C was issued on July 8, 2024. 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:

[[Page 67558]]

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 July 8, 2024, OFAC issued GL 40C to authorize certain 
transactions otherwise prohibited by the Venezuela Sanctions 
Regulations (VSR), 31 CFR part 591. GL 40C was made available on OFAC's 
website (<a href="https://ofac.treasury.gov/">https://ofac.treasury.gov/</a>) when it was issued. GL 40C 
supersedes GL 40B, which was issued on July 10, 2023. GL 40C has an 
expiration date of July 8, 2025. The text of this GL is provided below.

OFFICE OF FOREIGN ASSETS CONTROL

Venezuela Sanctions Regulations

31 CFR Part 591

GENERAL LICENSE NO. 40C

Authorizing Certain Transactions Involving the Exportation or 
Reexportation of Liquefied Petroleum Gas to Venezuela

    (a) Except as provided in paragraph (b) of this general license, 
all transactions related to the exportation or reexportation, directly 
or indirectly, of liquefied petroleum gas to Venezuela, involving 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, that are prohibited by 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), are authorized through 12:01 
a.m. eastern daylight time, July 8, 2025.
    (b) This general license does not authorize:
    (1) Any payment-in-kind of petroleum or petroleum products; or
    (2) Any transactions otherwise prohibited by the VSR, including 
transactions involving any blocked persons other than PdVSA, any entity 
in which PdVSA owns, directly or indirectly, a 50 percent or greater 
interest, or any Government of Venezuela person that is blocked solely 
pursuant to E.O. 13884.
    (c) Effective July 8, 2024, General License No. 40B, dated July 10, 
2023, is replaced and superseded in its entirety by this General 
License No. 40C.

    Note to General License No. 40C. Nothing in this general license 
relieves any persons from compliance with the requirements of other 
Federal agencies, including the Department of Commerce's Bureau of 
Industry and Security.


    Dated: July 8, 2024.
Bradley T. Smith,
Director, Office of Foreign Assets Control.
Lisa M. Palluconi,
Acting Director, Office of Foreign Assets Control.
[FR Doc. 2024-18754 Filed 8-20-24; 8:45 am]
BILLING CODE 4810-AL-P


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