[Federal Register Volume 85, Number 230 (Monday, November 30, 2020)]
[Rules and Regulations]
[Pages 76450-76451]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-26345]


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DEPARTMENT OF THE TREASURY

Office of Foreign Assets Control

31 CFR Part 591


Publication of Web General Licenses Issued Pursuant to the 
Venezuela Sanctions Regulations

AGENCY: Office of Foreign Assets Control, Treasury.

ACTION: Publication of Web General Licenses.

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SUMMARY: The Department of the Treasury's Office of Foreign Assets 
Control (OFAC) is publishing three Venezuela-related web general 
licenses in the Federal Register: General License 5C, which has been 
superseded, General License 5D, which has been superseded, and General 
License 5E, each of which was previously issued on OFAC's website.

DATES: General License 5E was issued on October 6, 2020 and the 
authorizations in it will be effective January 19, 2021.

FOR FURTHER INFORMATION CONTACT: OFAC: Assistant Director for 
Licensing, 202-622-2480; Assistant Director for Regulatory Affairs, 
202-622-4855; or Assistant Director for Sanctions Compliance & 
Evaluation, 202-622-2490.

SUPPLEMENTARY INFORMATION:

Electronic Availability

    This document and additional information concerning OFAC are 
available on OFAC's website (www.treasury.gov/ofac).

Background

    On March 8, 2015, the President, invoking the authority of, inter 
alia, the International Emergency Economic Powers Act (50 U.S.C. 1701-
1706), issued Executive Order (E.O.) 13692 of March 8, 2015, ``Blocking 
Property and Suspending Entry of Certain Persons Contributing to the 
Situation in Venezuela'' (80 FR 12747, March 11, 2015). In E.O. 13692, 
the President found that the situation in Venezuela, including the 
Government of Venezuela's erosion of human rights guarantees, 
persecution of political opponents, curtailment of press freedoms, use 
of violence and human rights violations and abuses in response to 
antigovernment protests, and arbitrary arrest and detention of 
antigovernment protestors, as well as the exacerbating presence of 
significant public corruption, constitutes an unusual and extraordinary 
threat to the national security and foreign policy of the United 
States, and declared a national emergency to deal with that threat.
    The President has issued six additional Executive Orders pursuant 
to the national emergency declared in E.O. 13692: E.O. 13808 of August 
24, 2017, ``Imposing Additional Sanctions With Respect to the Situation 
in Venezuela'' (82 FR 41155, August 29, 2017); E.O. 13827 of March 19, 
2018, ``Taking Additional Steps to Address the Situation in Venezuela'' 
(83 FR 12469, March 21, 2018); E.O. 13835 of May 21, 2018, 
``Prohibiting Certain Additional Transactions With Respect to 
Venezuela'' (83 FR 24001, May 24, 2018); E.O. 13850 of November 1, 
2018, ``Blocking Property of Additional Persons Contributing to the 
Situation in Venezuela'' (83 FR 55243, November 2, 2018); E.O. 13857 of 
January 25, 2019, ``Taking Additional Steps To Address the National 
Emergency With Respect to Venezuela'' (84 FR 509, January 30, 2019); 
and E.O. 13884 of August 5, 2019, ``Blocking Property of the Government 
of Venezuela'' (84 FR 38843, August 7, 2019).
    OFAC, in consultation with the Department of State, issued 
Venezuela-related General License (GL) 5 on July 19, 2018, pursuant to 
E.O. 13835, to authorize certain transactions related to the 
Petr[oacute]leos de Venezuela S.A. 2020 8.5 Percent Bond that were 
prohibited

[[Page 76451]]

by Subsection 1(a)(iii) of E.O. 13835. On October 24, 2019, OFAC issued 
GL 5A, which replaced and superseded GL 5. GL 5A delayed until January 
22, 2020 the effectiveness of the authorization that was previously 
contained in GL 5. On January 17, 2020, OFAC issued GL 5B, which 
replaced and superseded GL 5A. GL 5B further delayed until April 22, 
2020 the effectiveness of the authorization that was previously 
contained in GL 5. On April 10, 2020, OFAC issued GL 5C, which replaced 
and superseded GL 5B. GL 5C further delayed until July 22, 2020 the 
effectiveness of the authorization that was previously contained in GL 
5. On July 15, 2020, OFAC issued GL 5D, which replaced and superseded 
GL 5C. GL 5D further delayed until October 20, 2020 the effectiveness 
of the authorization that was previously contained in GL 5. On October 
6, 2020, OFAC issued GL 5E, which replaced and superseded GL 5D. GL 5E 
further delayed until January 19, 2021 the effectiveness of the 
authorization that was previously contained in GL 5. As a result, no 
transactions may be conducted pursuant to GL 5E until January 19, 2021. 
The texts of GL 5C, GL 5D, and GL 5E are provided below.

Office of Foreign Assets Control

Venezuela Sanctions Regulations 31 CFR part 591

General License No. 5C

Authorizing Certain Transactions Related to the Petr[oacute]leos de 
Venezuela, S.A. 2020 8.5 Percent Bond on or After July 22, 2020

    (a) Except as provided in paragraph (b) of this general license, on 
or after July 22, 2020, 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 April 10, 2020, General License No. 5B, dated January 
21, 2020, is replaced and superseded in its entirety by this General 
License No. 5C.

Andrea Gacki
Director
Office of Foreign Assets Control

Dated: April 10, 2020

Office of Foreign Assets Control

Venezuela Sanctions Regulations 31 CFR part 591

General License No. 5D

Authorizing Certain Transactions Related to the Petr[oacute]leos de 
Venezuela, S.A. 2020 8.5 Percent Bond on or After October 20, 2020

    (a) Except as provided in paragraph (b) of this general license, on 
or after October 20, 2020, 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 July 15, 2020, General License No. 5C, dated April 
10, 2020, is replaced and superseded in its entirety by this General 
License No. 5D.

Andrea Gacki
Director
Office of Foreign Assets Control

Dated: July 15, 2020

Office of Foreign Assets Control

Venezuela Sanctions Regulations 31 CFR part 591

General License No. 5E

Authorizing Certain Transactions Related to the Petr[oacute]leos de 
Venezuela, S.A. 2020 8.5 Percent Bond on or After January 19, 2021

    (a) Except as provided in paragraph (b) of this general license, on 
or after January 19, 2021, 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 October 6, 2020, General License No. 5D, dated July 
15, 2020, is replaced and superseded in its entirety by this General 
License No. 5E.

Andrea Gacki
Director
Office of Foreign Assets Control

Dated: October 6, 2020

    Dated: November 24, 2020.
Andrea Gacki,
Director, Office of Foreign Assets Control.
[FR Doc. 2020-26345 Filed 11-27-20; 8:45 am]
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