[Federal Register Volume 87, Number 158 (Wednesday, August 17, 2022)]
[Rules and Regulations]
[Pages 50572-50574]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-17644]


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DEPARTMENT OF THE TREASURY

Office of Foreign Assets Control

31 CFR Part 591


Publication of Venezuela Sanctions Regulations Web General 
Licenses 8I and 8J

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

[[Page 50573]]

Control (OFAC) is publishing two general licenses (GLs) issued in the 
Venezuela Sanctions program: GL 8I, which was previously made available 
on OFAC's website and is now expired, and GL 8J, which was also 
previously made available on OFAC's website and expires on December 1, 
2022.

DATES: GL 8I was issued on November 24, 2021. GL 8J was issued on May 
27, 2022. 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 Sanctions Compliance & 
Evaluation, 202-622-2490.

SUPPLEMENTARY INFORMATION:

Electronic Availability

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

Background

    On November 24, 2021, OFAC issued GL 8I to authorize certain 
transactions otherwise prohibited by the Venezuela Sanctions 
Regulations, 31 CFR part 591. GL 8I had an expiration date of June 1, 
2022. On May 27, 2022, OFAC issued GL 8J, replacing and superseding GL 
8I, to authorize certain transactions otherwise prohibited by the 
Venezuela Sanctions Regulations, 31 CFR part 591. GL 8J expires on 
December 1, 2022. At the time of issuance, GLs 8I and 8J each were made 
available on OFAC's website (www.treas.gov/ofac). The text of GLs 8I 
and 8J is provided below.

OFFICE OF FOREIGN ASSETS CONTROL

Venezuela Sanctions Regulations 31 CFR Part 591

GENERAL LICENSE NO. 8I

Authorizing Transactions Involving Petr[oacute]leos de Venezuela, S.A. 
(PdVSA) Necessary for the Limited Maintenance of Essential Operations 
in Venezuela or the Wind Down of Operations in Venezuela for Certain 
Entities

    (a) Except as provided in paragraphs (c) and (d) of this general 
license, all transactions and activities prohibited by Executive 
Order (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), that are ordinarily incident and necessary to the 
limited maintenance of essential operations, contracts, or other 
agreements, that: (i) are for safety or the preservation of assets 
in Venezuela; (ii) involve PdVSA or any entity in which PdVSA owns, 
directly or indirectly, a 50 percent or greater interest; and (iii) 
were in effect prior to July 26, 2019, are authorized through 12:01 
a.m. eastern daylight time, June 1, 2022, for the following entities 
and their subsidiaries (collectively, the ``Covered Entities''):

     Chevron Corporation
     Halliburton
     Schlumberger Limited
     Baker Hughes Holdings LLC
     Weatherford International, Public Limited Company

    Note to paragraph (a): Transactions and activities necessary for 
safety or the preservation of assets in Venezuela that are 
authorized by paragraph (a) of this general license include: 
transactions and activities necessary to ensure the safety of 
personnel, or the integrity of operations and assets in Venezuela; 
participation in shareholder and board of directors meetings; making 
payments on third-party invoices for transactions and activities 
authorized by paragraph (a) of this general license, or incurred 
prior to April 21, 2020, provided such activity was authorized at 
the time it occurred; payment of local taxes and purchase of utility 
services in Venezuela; and payment of salaries for employees and 
contractors in Venezuela.
    (b) Except as provided in paragraph (d) of this general license, 
all transactions and activities prohibited by E.O. 13850, as 
amended, or E.O. 13884, each as incorporated into the VSR, that are 
ordinarily incident and necessary to the wind down of operations, 
contracts, or other agreements in Venezuela involving PdVSA or any 
entity in which PdVSA owns, directly or indirectly, a 50 percent or 
greater interest, and that were in effect prior to July 26, 2019, 
are authorized through 12:01 a.m. eastern daylight time, June 1, 
2022, for the Covered Entities.
    (c) Paragraph (a) of this general license does not authorize:
    (1) The drilling, lifting, or processing of, purchase or sale 
of, or transport or shipping of any Venezuelan-origin petroleum or 
petroleum products;
    (2) The provision or receipt of insurance or reinsurance with 
respect to the transactions and activities described in paragraph 
(c)(1) of this general license;
    (3) The design, construction, installation, repair, or 
improvement of any wells or other facilities or infrastructure in 
Venezuela or the purchasing or provision of any goods or services, 
except as required for safety;
    (4) Contracting for additional personnel or services, except as 
required for safety; or
    (5) The payment of any dividend, including in kind, to PdVSA, or 
any entity in which PdVSA owns, directly or indirectly, a 50 percent 
or greater interest.
    (d) This general license does not authorize:
    (1) Any transactions or dealings related to the exportation or 
reexportation of diluents, directly or indirectly, to Venezuela;
    (2) Any loans to, accrual of additional debt by, or 
subsidization of PdVSA, or any entity in which PdVSA owns, directly 
or indirectly, a 50 percent or greater interest, including in kind, 
prohibited by E.O. 13808 of August 24, 2017, as amended by E.O. 
13857, and incorporated into the VSR; or
    (3) Any transactions or activities otherwise prohibited by the 
VSR, or any other part of 31 CFR chapter V, or any transactions or 
activities with any blocked person other than the blocked persons 
identified in paragraphs (a) and (b) of this general license.
    (e) Effective November 24, 2021, General License No. 8H, dated 
June 1, 2021, is replaced and superseded in its entirety by this 
General License No. 8I.

Bradley T. Smith,

Acting Director, Office of Foreign Assets Control

    Dated: November 24, 2021

OFFICE OF FOREIGN ASSETS CONTROL

Venezuela Sanctions Regulations 31 CFR Part 591

GENERAL LICENSE NO. 8J

Authorizing Transactions Involving Petr[oacute]leos de Venezuela, S.A. 
(PdVSA) Necessary for the Limited Maintenance of Essential Operations 
in Venezuela or the Wind Down of Operations in Venezuela for Certain 
Entities

    (a) Except as provided in paragraphs (c) and (d) of this general 
license, all transactions and activities prohibited by Executive 
Order (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), that are ordinarily incident and necessary to the 
limited maintenance of essential operations, contracts, or other 
agreements, that: (i) are for safety or the preservation of assets 
in Venezuela; (ii) involve PdVSA or any entity in which PdVSA owns, 
directly or indirectly, a 50 percent or greater interest; and (iii) 
were in effect prior to July 26, 2019, are authorized through 12:01 
a.m. eastern standard time, December 1, 2022, for the following 
entities and their subsidiaries (collectively, the ``Covered 
Entities''):
 Chevron Corporation
 Halliburton
 Schlumberger Limited
 Baker Hughes Holdings LLC
 Weatherford International, Public Limited Company

    Note to paragraph (a): Transactions and activities necessary for 
safety or the preservation of assets in Venezuela that are 
authorized by paragraph (a) of this general license include: 
transactions and activities necessary to ensure the safety of 
personnel, or the integrity of operations and assets in Venezuela; 
participation in shareholder and board of directors meetings; making 
payments on third-party invoices for transactions and activities 
authorized by paragraph (a) of this general license, or incurred 
prior to April 21, 2020, provided such activity was authorized at 
the time it occurred; payment of local taxes and purchase of utility 
services in Venezuela; and payment of salaries for employees and 
contractors in Venezuela.
    (b) Except as provided in paragraph (d) of this general license, 
all transactions and activities prohibited by E.O. 13850, as 
amended, or E.O. 13884, each as incorporated into the VSR, that are 
ordinarily incident and necessary to the wind down of

[[Page 50574]]

operations, contracts, or other agreements in Venezuela involving 
PdVSA or any entity in which PdVSA owns, directly or indirectly, a 
50 percent or greater interest, and that were in effect prior to 
July 26, 2019, are authorized through 12:01 a.m. eastern standard 
time, December 1, 2022, for the Covered Entities.
    (c) Paragraph (a) of this general license does not authorize:
    (1) The drilling, lifting, or processing of, purchase or sale 
of, or transport or shipping of any Venezuelan-origin petroleum or 
petroleum products;
    (2) The provision or receipt of insurance or reinsurance with 
respect to the transactions and activities described in paragraph 
(c)(1) of this general license;
    (3) The design, construction, installation, repair, or 
improvement of any wells or other facilities or infrastructure in 
Venezuela or the purchasing or provision of any goods or services, 
except as required for safety;
    (4) Contracting for additional personnel or services, except as 
required for safety; or
    (5) The payment of any dividend, including in kind, to PdVSA, or 
any entity in which PdVSA owns, directly or indirectly, a 50 percent 
or greater interest.
    (d) This general license does not authorize:
    (1) Any transactions or dealings related to the exportation or 
reexportation of diluents, directly or indirectly, to Venezuela;
    (2) Any loans to, accrual of additional debt by, or 
subsidization of PdVSA, or any entity in which PdVSA owns, directly 
or indirectly, a 50 percent or greater interest, including in kind, 
prohibited by E.O. 13808 of August 24, 2017, as amended by E.O. 
13857, and incorporated into the VSR; or
    (3) Any transactions or activities otherwise prohibited by the 
VSR, or any other part of 31 CFR chapter V, or any transactions or 
activities with any blocked person other than the blocked persons 
identified in paragraphs (a) and (b) of this general license.
    (e) Effective May 27, 2022, General License No. 8I, dated 
November 24, 2021, is replaced and superseded in its entirety by 
this General License No. 8J.

Andrea M. Gacki,

Director, Office of Foreign Assets Control

    Dated: May 27, 2022

Andrea M. Gacki,

Director, Office of Foreign Assets Control.
[FR Doc. 2022-17644 Filed 8-16-22; 8:45 am]
BILLING CODE 4810-AL-P