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Publication of Venezuela Sanctions Regulations Web General License 5P

89 Fed. Reg. 72986 (Sep. 9, 2024)

Publication of Venezuela Sanctions Regulations Web General License 5P

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Federal RegisterSep 9, 2024
89 Fed. Reg. 72986 (Sep. 9, 2024)
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    Department of the Treasury Office of Foreign Assets Control
  • 31 CFR Part 591

    • AGENCY:

    Office of Foreign Assets Control, Treasury.

    ACTION:

    Publication of web general license.

    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: https://ofac.treasury.gov.

    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 ( https://ofac.treasury.gov ) 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 Petróleos 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 November 12, 2024, all transactions related to, the provision of financing for, and other dealings in the Petróleos 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