Publication of Venezuela Sanctions Regulations Web General License 42

Rule published September 26, 2023 · 88 FR 65816

Document number: FR Doc. 2023-20797
Type: Rule
Published: September 26, 2023
Citation: 88 FR 65816 (page 65,816)
Action: Publication of a web general license.
Dates: GL 42 was issued on May 1, 2023. See SUPPLEMENTARY INFORMATION for additional relevant dates.
Official sources: PDF (govinfo.gov) · federalregister.gov

Summary

The Federal Register's summaryThe 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.

Regulations cited

31 CFR part 591 (today: Venezuela Sanctions Regulations) · Other documents citing it · eCFR as of September 26, 2023

OFAC has reused some part numbers, so today's heading can name a different regulation from the one this document concerned.

Text

As the Government Publishing Office publishes it. Pages OFAC printed as images (in recent notices, the lists of names) are in the official PDF.

[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 [www.gpo.gov]
[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: https://ofac.treasury.gov/.

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 (https://ofac.treasury.gov/) 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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