[Federal Register Volume 88, Number 185 (Tuesday, September 26, 2023)]
[Rules and Regulations]
[Page 65816]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-20797]


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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 42

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 42, which was previously 
made available on OFAC's website.

DATES: GL 42 was issued on May 1, 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 1, 2023, OFAC issued GL 42 to authorize certain transactions 
otherwise prohibited by the Venezuela Sanctions Regulations, 31 CFR 
part 591. GL 42 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

Venezuela Sanctions Regulations

31 CFR Part 591

GENERAL LICENSE NO. 42

Authorizing Certain Transactions Related to the Negotiation of Certain 
Settlement Agreements With the IV Venezuelan National Assembly and 
Certain Other Persons

    (a) Except as provided in paragraph (b) of this general license, 
all transactions prohibited by the Venezuela Sanctions Regulations, 
31 CFR part 591 (the VSR), that are ordinarily incident and 
necessary to the negotiation of settlement agreements with the IV 
Venezuelan National Assembly seated on January 5, 2016 (``IV 
National Assembly''), its Delegated Commission, any entity 
established by, or under the direction of, the IV National Assembly 
to exercise its mandate (``IV National Assembly Entity''), or any 
person appointed or designated by, or whose appointment or 
designation is retained by, an IV National Assembly Entity, relating 
to any debt of the Government of Venezuela, Petr[oacute]leos de 
Venezuela, S.A. (PdVSA), or any entity in which PdVSA owns, directly 
or indirectly, a 50 percent or greater interest are authorized.
    Note 1 to paragraph (a). The authorization in paragraph (a) of 
this general license includes the negotiation of settlement 
agreements with persons appointed or designated by, or whose 
appointment or designation is retained by, an IV National Assembly 
Entity to the board of directors (including any ad hoc boards of 
directors), or as an executive officer of a Government of Venezuela 
entity (including entities owned or controlled, directly or 
indirectly, by the Government of Venezuela).
    (b) This general license does not authorize:
    (1) Any transaction involving the Venezuelan National 
Constituent Assembly convened by Nicolas Maduro or the National 
Assembly seated on January 5, 2021, including their respective 
members and staff; or
    (2) Any transaction otherwise prohibited by the VSR, including 
transactions involving any person blocked pursuant to the VSR other 
than the blocked persons described in paragraph (a) of this general 
license, unless separately authorized.

Andrea M. Gacki,

Director, Office of Foreign Assets Control.

    Dated: May 1, 2023.

Bradley T. Smith,
Director, Office of Foreign Assets Control.

    Note:  This document was received for publication by the Office 
of the Federal Register on September 20, 2023.

[FR Doc. 2023-20797 Filed 9-25-23; 8:45 am]
BILLING CODE 4810-AL-P