Rule2024-20224
Publication of Venezuela Sanctions Regulations Web General License 5P
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 9, 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 5P, which was previously made available on OFAC's website.
Full Text
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<title>Federal Register, Volume 89 Issue 174 (Monday, September 9, 2024)</title>
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[Federal Register Volume 89, Number 174 (Monday, September 9, 2024)]
[Rules and Regulations]
[Pages 72986-72987]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-20224]
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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 5P
AGENCY: Office of Foreign Assets Control, Treasury.
ACTION: Publication of 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 5P, which was previously
made available on OFAC's website.
DATES: GL 5P was issued on August 12, 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:
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 August 12, 2024, OFAC issued GL 5P to authorize certain
transactions otherwise prohibited by the Venezuela Sanctions
Regulations (VSR), 31 CFR part 591. GL 5P was made available on OFAC's
website (<a href="https://ofac.treasury.gov">https://ofac.treasury.gov</a>) when it was issued. GL 5P
supersedes GL 5O, which was issued on April 15, 2024. The text of GL 5P
is provided below.
OFFICE OF FOREIGN ASSETS CONTROL
Venezuela Sanctions Regulations
31 CFR Part 591
GENERAL LICENSE NO. 5P
Authorizing Certain Transactions Related to the Petr[oacute]leos de
Venezuela, S.A. 2020 8.5 Percent Bond on or After November 12, 2024
(a) Except as provided in paragraph (b) of this general license, on
or after
[[Page 72987]]
November 12, 2024, 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 August 12, 2024, General License No. 5O, dated April
15, 2024, is replaced and superseded in its entirety by this General
License No. 5P.
Lisa M. Palluconi,
Acting Director Office of Foreign Assets Control.
Dated: August 12, 2024.
Lisa M. Palluconi,
Acting Director, Office of Foreign Assets Control.
[FR Doc. 2024-20224 Filed 9-6-24; 8:45 am]
BILLING CODE 4810-AL-P
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</html>Indexed from Federal Register on September 9, 2024.
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.