2025-07-23 | 2025-13835Added · Updated
The Department of the Treasury’s Office of Foreign Assets Control (OFAC) published General License 33 to authorize specific transactions otherwise prohibited by the Global Terrorism Sanctions Regulations. This license permits the wind down of transactions involving the International Bank of Yemen (IBY) and its majority-owned entities through May 17, 2025, provided payments to blocked persons are made into blocked accounts. The authorization excludes any transactions involving other blocked persons unless separately authorized.
the blocked persons described in paragraph (a) of this general license, unless separately authorized. (c) Effective March 24, 2025, General License No. 41A, dated March 4, 2025, is replaced and superseded in its entirety by this General License No. 41B. Note 1 to General License No. 41B. Nothing in this general license relieves any person from compliance with the requirements of other Federal agencies, including the Department of Commerce’s Bureau of Industry and Security. Note 2 to General License No. 41B. Nothing in this general license authorizes any expansion of the Chevron JVs into new fields in Venezuela. Lisa M. Palluconi, Acting Director, Office of Foreign Assets Control. Dated: March 24, 2025. Lisa M. Palluconi, Acting Director, Office of Foreign Assets Control. [FR Doc. 2025–13846 Filed 7–22–25; 8:45 am] BILLING CODE 4810–AL–P DEPARTMENT OF THE TREASURY Office of Foreign Assets Control 31 CFR Part 594 Publication of Global Terrorism Sanctions Regulations Web General License 33 AGENCY: Office of Foreign Assets Control, Treasury. ACTION: Publication of a web general license. SUMMARY: The Department of the Treasury’s Office of Foreign Assets Control (OFAC) is publishing a general license (GL) issued pursuant to the Global Terrorism Sanctions Regulations: GL 33, which was previously made available on OFAC’s website. DATES: GL 33 was issued on April 17, 2025. See SUPPLEMENTARY INFORMATION for additional relevant dates. FOR FURTHER INFORMATION CONTACT: OFAC: Assistant Director for Regulatory Affairs, 202–622–4855; or https:// ofac.treasury.gov/contact-ofac. SUPPLEMENTARY INFORMATION: Electronic Availability This document and additional information concerning OFAC are available on OFAC’s website: https:// ofac.treasury.gov. Background On April 17, 2025, OFAC issued GL 33 to authorize certain transactions otherwise prohibited by the Global Terrorism Sanctions Regulations, 31 CFR part 594. This GL 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 Global Terrorism Sanctions Regulations 31 CFR Part 594 GENERAL LICENSE NO. 33 Authorizing the Wind Down of Transactions Involving International Bank of Yemen (IBY) (a) Except as provided in paragraph (b) of this general license, all transactions prohibited by the Global Terrorism Sanctions Regulations, 31 CFR part 594 (GTSR), that are ordinarily incident and necessary to the wind down of any transaction involving International Bank of Yemen (IBY), or any entity in which IBY owns, directly or indirectly, a 50 percent or greater interest, are authorized through 12:01 a.m. eastern daylight time, May 17, 2025, provided that any payment to a blocked person is made into a blocked account in accordance with the GTSR. (b) This general license does not authorize any transactions otherwise prohibited by the GTSR, including transactions involving any person blocked pursuant to the GTSR other than the blocked persons described in paragraph (a) of this general license, unless separately authorized. Lisa M. Palluconi, Acting Director. Office of Foreign Assets Control. Dated: April 17, 2025. Lisa M. Palluconi, Acting Director, Office of Foreign Assets Control. [FR Doc. 2025–13835 Filed 7–22–25; 8:45 am] BILLING CODE 4810–AL–P
More like this from OFAC
OFAC published 9 documents in the last 30 days. We email you each new one the day it's published.