Publication of Venezuela Sanctions Regulations Web General License 40B., 52038-52039 [2023-16732]

Download as PDF 52038 Federal Register / Vol. 88, No. 150 / Monday, August 7, 2023 / Rules and Regulations DEPARTMENT OF THE TREASURY Office of Foreign Assets Control 31 CFR Part 587 Publication of Russian Harmful Foreign Activities Sanctions Regulations Web General Licenses 70 and 71. Office of Foreign Assets Control, Treasury. ACTION: Publication of web general licenses. AGENCY: The Department of the Treasury’s Office of Foreign Assets Control (OFAC) is publishing two general licenses (GLs) issued pursuant to the Russian Harmful Foreign Activities Sanctions Regulations: GLs 70 and 71, each of which was previously made available on OFAC’s website. DATES: GLs 70 and 71 were issued on July 20, 2023. See SUPPLEMENTARY INFORMATION for additional relevant dates. SUMMARY: 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 Background On July 20, 2023, OFAC issued GLs 70 and 71 to authorize certain transactions otherwise prohibited by the Russian Harmful Foreign Activities Sanctions Regulations, 31 CFR part 587. GLs 70 and 71 each have an expiration date of October 18, 2023. Each GL was made available on OFAC’s website (https://ofac.treasury.gov/) at the time of publication. The text of these GLs is provided below. OFFICE OF FOREIGN ASSETS CONTROL Russian Harmful Foreign Activities Sanctions Regulations 31 CFR Part 587 ddrumheller on DSK120RN23PROD with RULES1 GENERAL LICENSE NO. 70 Authorizing the Wind Down of Transactions Involving Joint Stock Company Ural Mining and Metallurgical Company (a) Except as provided in paragraph (b) of this general license, all transactions prohibited by Executive Order (E.O.) 14024 that are ordinarily incident and necessary to the wind down of any transaction involving 15:10 Aug 04, 2023 Jkt 259001 OFFICE OF FOREIGN ASSETS CONTROL Russian Harmful Foreign Activities Sanctions Regulations 31 CFR Part 587 This document and additional information concerning OFAC are available on OFAC’s website: https:// ofac.treasury.gov/. VerDate Sep<11>2014 Joint Stock Company Ural Mining and Metallurgical Company (UMMC), or any entity in which UMMC owns, directly or indirectly, a 50 percent or greater interest (collectively, the ‘‘UMMC Entities’’), are authorized through 12:01 a.m. eastern daylight time, October 18, 2023, provided that any payment to a UMMC Entity must be made into a blocked account in accordance with the Russian Harmful Foreign Activities Sanctions Regulations, 31 CFR part 587 (RuHSR). (b) This general license does not authorize: (1) Any transactions prohibited by Directive 2 under E.O. 14024, Prohibitions Related to Correspondent or PayableThrough Accounts and Processing of Transactions Involving Certain Foreign Financial Institutions; (2) Any transactions prohibited by Directive 4 under E.O. 14024, Prohibitions Related to Transactions Involving the Central Bank of the Russian Federation, the National Wealth Fund of the Russian Federation, and the Ministry of Finance of the Russian Federation, as amended; or (3) Any transactions otherwise prohibited by the RuHSR, including transactions involving any person blocked pursuant to the RuHSR other than the UMMC Entities, unless separately authorized. Bradley T. Smith, Deputy Director, Office of Foreign Assets Control. Dated: July 20, 2023. financial institution or their successor-ininterest, all transactions prohibited by E.O. 14024 that are ordinarily incident and necessary to the processing of funds involving one or more of the Blocked Entities as an originating, intermediary, or beneficiary financial institution, through 12:01 a.m. eastern daylight time, October 18, 2023. (c) This general license does not authorize: (1) Any transactions prohibited by Directive 2 under E.O. 14024, Prohibitions Related to Correspondent or PayableThrough Accounts and Processing of Transactions Involving Certain Foreign Financial Institutions; (2) Any debit to an account on the books of a U.S. financial institution of the Central Bank of the Russian Federation, the National Wealth Fund of the Russian Federation, or the Ministry of Finance of the Russian Federation; or (3) Any transactions otherwise prohibited by the RuHSR, including transactions involving any person blocked pursuant to the RuHSR other than the Blocked Entities described in paragraph (a) of this general license, unless separately authorized. Bradley T. Smith, Deputy Director, Office of Foreign Assets Control. Dated: July 20, 2023. Andrea M. Gacki, Director, Office of Foreign Assets Control. [FR Doc. 2023–16731 Filed 8–4–23; 8:45 am] BILLING CODE 4810–AL–P DEPARTMENT OF THE TREASURY GENERAL LICENSE NO. 71 Office of Foreign Assets Control Authorizing the Wind Down and Rejection of Transactions Involving Certain Entities Blocked on July 20, 2023 (a) Except as provided in paragraph (c) of this general license, all transactions prohibited by Executive Order (E.O.) 14024 that are ordinarily incident and necessary to the wind down of transactions involving one or more of the following blocked persons (collectively, the ‘‘Blocked Entities’’) are authorized through 12:01 a.m. eastern daylight time, October 18, 2023, provided that any payment to a Blocked Entity is made into a blocked account in accordance with the Russian Harmful Foreign Activities Sanctions Regulations, 31 CFR part 587 (RuHSR): (1) Joint Stock Company Petersburg Social Commercial Bank; (2) Joint Stock Company Locko Bank; (3) Unistream Commercial Bank JSC; (4) Joint Stock Company Commercial Bank Solidarnost; (5) JSC Tinkoff Bank; or (6) Any entity in which one or more of the above persons own, directly or indirectly, individually or in the aggregate, a 50 percent or greater interest. (b) Except as provided in paragraph (c) of this general license, U.S. persons are authorized to reject, rather than block, and return to the originator or originating 31 CFR Part 591 PO 00000 Frm 00018 Fmt 4700 Sfmt 4700 Publication of Venezuela Sanctions Regulations Web General License 40B. Office of Foreign Assets Control, Treasury. AGENCY: ACTION: Publication of a web general license. 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 40B, which was previously made available on OFAC’s website. SUMMARY: GL 40B was issued on July 10, 2023. See SUPPLEMENTARY INFORMATION for additional relevant dates. 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: E:\FR\FM\07AUR1.SGM 07AUR1 Federal Register / Vol. 88, No. 150 / Monday, August 7, 2023 / Rules and Regulations Electronic Availability DEPARTMENT OF THE TREASURY This document and additional information concerning OFAC are available on OFAC’s website: https:// ofac.treasury.gov/. Office of Foreign Assets Control 31 CFR Part 591 Background On July 10, 2023, OFAC issued GL 40B to authorize certain transactions otherwise prohibited by the Venezuela Sanctions Regulations, 31 CFR part 591. GL 40B was made available on OFAC’s website (https://ofac.treasury.gov/) when it was issued. GL 40B was issued on July 10, 2023 and has an expiration date of July 10, 2024. The text of this GL is provided below. OFFICE OF FOREIGN ASSETS CONTROL Venezuela Sanctions Regulations 31 CFR Part 591 GENERAL LICENSE NO. 40B ddrumheller on DSK120RN23PROD with RULES1 Bradley T. Smith, Deputy Director, Office of Foreign Assets Control. Dated: July 10, 2023. Andrea M. Gacki, Director, Office of Foreign Assets Control. [FR Doc. 2023–16732 Filed 8–4–23; 8:45 am] BILLING CODE 4810–AL–P 15:10 Aug 04, 2023 Office of Foreign Assets Control, Treasury. ACTION: Publication of web general licenses. AGENCY: The Department of the Treasury’s Office of Foreign Assets Control (OFAC) is publishing two general licenses (GLs) issued pursuant to the Venezuela Sanctions Regulations: GLs 5K and 5L, each of which was previously made available on OFAC’s website. SUMMARY: GL 5K was issued on April 19, 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: DATES: 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, Petro´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 10, 2024. (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 10, 2023, General License No. 40A, dated July 7, 2022, is replaced and superseded in its entirety by this General License No. 40B. Note to General License No. 40B: 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. VerDate Sep<11>2014 Publication of Venezuela Sanctions Regulations Web General Licenses 5K and 5L. Jkt 259001 Electronic Availability This document and additional information concerning OFAC are available on OFAC’s website: https:// ofac.treasury.gov/. Background On April 19, 2023, OFAC issued GL 5K to further delay the effectiveness of the authorization that was previously contained in GL 5. GL 5K was the twelfth iteration of GL 5 and superseded GL 5J (88 FR 6624). On July 19, 2023, OFAC issued GL 5L, which superseded GL 5K and further delayed the effectiveness of the authorization that was contained in GL 5. Both GLs were made available on OFAC’s website (https://ofac.treasury.gov) when they were issued. The text of these GLs is provided below. OFFICE OF FOREIGN ASSETS CONTROL Venezuela Sanctions Regulations 31 CFR Part 591 GENERAL LICENSE NO. 5K Authorizing Certain Transactions Related to the Petro´leos de Venezuela, S.A. 2020 8.5 Percent Bond on or After July 20, 2023 (a) Except as provided in paragraph (b) of this general license, on or after PO 00000 Frm 00019 Fmt 4700 Sfmt 9990 52039 July 20, 2023, all transactions related to, the provision of financing for, and other dealings in the Petro´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 April 19, 2023, General License No. 5J, dated January 17, 2023, is replaced and superseded in its entirety by this General License No. 5K. Andrea M. Gacki, Director, Office of Foreign Assets Control. Dated: April 19, 2023. OFFICE OF FOREIGN ASSETS CONTROL Venezuela Sanctions Regulations 31 CFR Part 591 GENERAL LICENSE NO. 5L Authorizing Certain Transactions Related to the Petro´leos de Venezuela, S.A. 2020 8.5 Percent Bond on or After October 20, 2023 (a) Except as provided in paragraph (b) of this general license, on or after October 20, 2023, all transactions related to, the provision of financing for, and other dealings in the Petro´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 July 19, 2023, General License No. 5K, dated April 19, 2023, is replaced and superseded in its entirety by this General License No. 5L. Bradley T. Smith, Deputy Director, Office of Foreign Assets Control. Dated: July 19, 2023. Andrea M. Gacki, Director, Office of Foreign Assets Control. [FR Doc. 2023–16729 Filed 8–4–23; 8:45 am] BILLING CODE 4810–AL–P E:\FR\FM\07AUR1.SGM 07AUR1

Agencies

[Federal Register Volume 88, Number 150 (Monday, August 7, 2023)]
[Rules and Regulations]
[Pages 52038-52039]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-16732]


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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 40B.

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

DATES: GL 40B was issued on July 10, 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: 

[[Page 52039]]

Electronic Availability

    This document and additional information concerning OFAC are 
available on OFAC's website: https://ofac.treasury.gov/.

Background

    On July 10, 2023, OFAC issued GL 40B to authorize certain 
transactions otherwise prohibited by the Venezuela Sanctions 
Regulations, 31 CFR part 591. GL 40B was made available on OFAC's 
website (https://ofac.treasury.gov/) when it was issued. GL 40B was 
issued on July 10, 2023 and has an expiration date of July 10, 2024. 
The text of this GL is provided below.

OFFICE OF FOREIGN ASSETS CONTROL

Venezuela Sanctions Regulations

31 CFR Part 591

GENERAL LICENSE NO. 40B

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 10, 2024.
    (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 10, 2023, General License No. 40A, dated July 
7, 2022, is replaced and superseded in its entirety by this General 
License No. 40B.

    Note to General License No. 40B: 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.


Bradley T. Smith,

Deputy Director, Office of Foreign Assets Control.

    Dated: July 10, 2023.

Andrea M. Gacki,
Director, Office of Foreign Assets Control.
[FR Doc. 2023-16732 Filed 8-4-23; 8:45 am]
BILLING CODE 4810-AL-P

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