[Federal Register Volume 88, Number 119 (Thursday, June 22, 2023)]
[Rules and Regulations]
[Page 40713]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-13359]


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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 8L

AGENCY: Office of Foreign Assets Control, Treasury.

ACTION: Publication of a 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 8L, which was previously 
made available on OFAC's website.

DATES: GL 8L was issued on May 23, 2023. 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 May 23, 2023, OFAC issued GL 8L to authorize certain 
transactions otherwise prohibited by the Venezuela Sanctions 
Regulations, 31 CFR part 591. GL 8L was made available on OFAC's 
website (https://ofac.treasury.gov/) when it was issued. GL 8L was 
issued on May 23, 2023 and has an expiration date of November 19, 2023. 
The text of this GL is provided below.

OFFICE OF FOREIGN ASSETS CONTROL

Venezuela Sanctions Regulations

31 CFR Part 591

GENERAL LICENSE NO. 8L

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, November 19, 2023, for the following 
entities and their subsidiaries (collectively, the ``Covered 
Entities''):

 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 standard time, November 
19, 2023, 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 23, 2023, General License No. 8K, dated 
November 26, 2022, is replaced and superseded in its entirety by 
this General License No. 8L.

    Dated: May 23, 2023.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
[FR Doc. 2023-13359 Filed 6-21-23; 8:45 am]
BILLING CODE 4810-AL-P