RegAlert

Rule · OFAC · 9 Sep 2024 · 2024-20224

Publication of Venezuela Sanctions Regulations Web General License 5P

sanctions

The Department of the Treasury’s Office of Foreign Assets Control (OFAC) published General License 5P to authorize specific transactions involving Petroleos de Venezuela, S.A. bonds. This license permits dealings in the 2020 8.5 Percent Bond on or after November 12, 2024, that would otherwise be prohibited by the Venezuela Sanctions Regulations. General License 5P supersedes and replaces the previous General License 5O issued on April 15, 2024.

US FederalOffice of Foreign Assets Control

DEPARTMENT OF THE TREASURY Office of Foreign Assets Control 31 CFR Part 591 Publication of Venezuela Sanctions Regulations Web General License 5P 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 Petro´leos 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 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 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

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Executive Order No. 13835 dated2018-05-21Not in RegAlertExecutive Order No. 13835 dated 2018-05-21 — Not in RegAlertExecutive Order No. 13857 dated2019-01-25Not in RegAlertExecutive Order No. 13857 dated 2019-01-25 — Not in RegAlertGeneral License No. 5O dated2024-04-15Not in RegAlertGeneral License No. 5O dated 2024-04-15 — Not in RegAlertPublication of VenezuelaSanctions Regulations Web Gen…2024-09-09 · this documentPublication of Venezuela Sanctions Regulations Web General License 5P (2024-09-09)
amendssupersedesissued underrefers todashed card: not in RegAlert (or proposed)arrows run from the older text to the one that changes it
The links and the sentences they come from (3)
Supersedes
  • General License No. 5O dated 2024-04-15Not in RegAlert

    “GL 5P supersedes GL 5O, which was issued on April 15, 2024.”

Issued under
  • Executive Order No. 13835 dated 2018-05-21Not in RegAlert

    “prohibited by subsection l(a)(iii) of Executive Order (E.O.) 13835 of May 21, 2018”

  • Executive Order No. 13857 dated 2019-01-25Not in RegAlert

    “as amended by E.O. 13857 of January 25, 2019”

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