Publication of Venezuela Sanctions Regulations Web General License 5N, 13271 [2024-03626]

Download as PDF Federal Register / Vol. 89, No. 36 / Thursday, February 22, 2024 / Rules and Regulations OFFICE OF FOREIGN ASSETS CONTROL Russian Harmful Foreign Activities Sanctions Regulations 31 CFR Part 587 lotter on DSK11XQN23PROD with RULES1 GENERAL LICENSE NO. 86 Authorizing Limited Safety and Environmental Transactions Involving Certain Persons or Vessels Blocked on January 18, 2024 (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 one of the following activities involving the blocked persons described in paragraph (b) are authorized through 12:01 a.m. eastern daylight time, April 17, 2024, provided that any payment to a blocked person must be made into a blocked account in accordance with the Russian Harmful Foreign Activities Sanctions Regulations (RuHSR): (1) The safe docking and anchoring in port of any vessels in which any person or entity listed in paragraph (b) of this general license has a property interest (‘‘blocked vessels’’); (2) The preservation of the health or safety of the crew of any of the blocked vessels; or (3) Emergency repairs of any of the blocked vessels or environmental mitigation or protection activities relating to any of the blocked vessels. (b) The authorization in paragraph (a) of this general license applies to Hennesea Holdings Limited (Hennesea) and any entity in which Hennesea owns, directly or indirectly, a 50 percent or greater interest. (c) This general license does not authorize: (1) The entry into any new commercial contracts involving the property or interests in property of any blocked persons, including the blocked persons described in paragraph (b) of this general license, except as authorized by paragraph (a); (2) The offloading of any cargo onboard any of the blocked vessels, including the offloading of crude oil or petroleum products of Russian Federation origin, except for the offloading of cargo that is ordinarily incident and necessary to address vessel emergencies authorized pursuant to paragraph (a) of this general license; (3) Any transactions related to the sale of crude oil or petroleum products of Russian Federation origin; (4) Any transactions prohibited by Directive 2 under E.O. 14024, Prohibitions Related to Correspondent or Payable-Through Accounts and Processing of Transactions Involving Certain Foreign Financial Institutions; VerDate Sep<11>2014 17:35 Feb 21, 2024 Jkt 262001 (5) 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; or (6) Any transactions otherwise prohibited by the RuHSR, including transactions involving the property or interests in property of any person blocked pursuant to the RuHSR, other than transactions involving the blocked persons described in paragraph (b) of this general license, unless separately authorized. Bradley T. Smith, Director, Office of Foreign Assets Control. Dated: January 18, 2024. Bradley T. Smith, Director, Office of Foreign Assets Control. [FR Doc. 2024–03629 Filed 2–21–24; 8:45 am] BILLING CODE 4810–AL–P DEPARTMENT OF THE TREASURY Office of Foreign Assets Control 31 CFR Part 591 Publication of Venezuela Sanctions Regulations Web General License 5N Office of Foreign Assets Control, Treasury. ACTION: Publication of web general license. AGENCY: 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 5N, which was previously made available on OFAC’s website. DATES: GL 5N was issued on January 16, 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: SUMMARY: Electronic Availability This document and additional information concerning OFAC are available on OFAC’s website: https:// ofac.treasury.gov. Background On January 16, 2024, OFAC issued GL 5N to authorize certain transactions otherwise prohibited by the Venezuela PO 00000 Frm 00009 Fmt 4700 Sfmt 4700 13271 Sanctions Regulations (VSR), 31 CFR part 591. The GL was made available on OFAC’s website (https:// ofac.treasury.gov) when it was issued. GL 5N supersedes GL 5M, which was issued on October 18, 2023. The text of GL 5N is provided below. OFFICE OF FOREIGN ASSETS CONTROL Venezuela Sanctions Regulations 31 CFR Part 591 GENERAL LICENSE NO. 5N Authorizing Certain Transactions Related to the Petro´leos de Venezuela, S.A. 2020 8.5 Percent Bond on or After April 16, 2024 (a) Except as provided in paragraph (b) of this general license, on or after April 16, 2024, 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 January 16, 2024, General License No. 5M, dated October 18, 2023, is replaced and superseded in its entirety by this General License No. 5N. Bradley T. Smith, Director, Office of Foreign Assets Control. Dated: January 16, 2024. Bradley T. Smith, Director, Office of Foreign Assets Control. [FR Doc. 2024–03626 Filed 2–21–24; 8:45 am] BILLING CODE P DEPARTMENT OF THE TREASURY Office of Foreign Assets Control 31 CFR Part 594 Publication of Global Terrorism Sanctions Regulations Web General Licenses 22, 23, 24, 25, 26, and 27 Office of Foreign Assets Control, Treasury. AGENCY: Publication of web general licenses. ACTION: The Department of the Treasury’s Office of Foreign Assets SUMMARY: E:\FR\FM\22FER1.SGM 22FER1

Agencies

[Federal Register Volume 89, Number 36 (Thursday, February 22, 2024)]
[Rules and Regulations]
[Page 13271]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-03626]


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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 5N

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 5N, which was previously 
made available on OFAC's website.

DATES: GL 5N was issued on January 16, 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 January 16, 2024, OFAC issued GL 5N to authorize certain 
transactions otherwise prohibited by the Venezuela Sanctions 
Regulations (VSR), 31 CFR part 591. The GL was made available on OFAC's 
website (https://ofac.treasury.gov) when it was issued. GL 5N 
supersedes GL 5M, which was issued on October 18, 2023. The text of GL 
5N is provided below.

OFFICE OF FOREIGN ASSETS CONTROL

Venezuela Sanctions Regulations

31 CFR Part 591

GENERAL LICENSE NO. 5N

Authorizing Certain Transactions Related to the Petr[oacute]leos de 
Venezuela, S.A. 2020 8.5 Percent Bond on or After April 16, 2024

    (a) Except as provided in paragraph (b) of this general license, on 
or after April 16, 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 January 16, 2024, General License No. 5M, dated 
October 18, 2023, is replaced and superseded in its entirety by this 
General License No. 5N.

Bradley T. Smith,
Director, Office of Foreign Assets Control.
    Dated: January 16, 2024.
Bradley T. Smith,
Director, Office of Foreign Assets Control.
[FR Doc. 2024-03626 Filed 2-21-24; 8:45 am]
BILLING CODE P

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