Federal Register / Vol. 89, No. 36 / Thursday, February 22, 2024 / Rules and Regulations 13271 

OFFICE OF FOREIGN ASSETS 

CONTROL 

Russian Harmful Foreign Activities 

Sanctions Regulations 

31 CFR Part 587 

GENERAL LICENSE NO. 86 

Authorizing Limited Safety and 

Environmental Transactions Involving 

Certain Persons or Vessels Blocked on 

January 18, 2024 

(a) Except as provided in paragraph 

(c) of this general license, all 

transactions prohibited by Executive 

Order (E.O.) 14024 that are ordinarily 

incident and necessary to one of the 

following activities involving the 

blocked persons described in paragraph 

(b) are authorized through 12:01 a.m. 

eastern daylight time, April 17, 2024, 

provided that any payment to a blocked 

person must be made into a blocked 

account in accordance with the Russian 

Harmful Foreign Activities Sanctions 

Regulations (RuHSR): (1) The safe docking and anchoring in 

port of any vessels in which any person 

or entity listed in paragraph (b) of this 

general license has a property interest 

(‘‘blocked vessels’’); 

(2) The preservation of the health or 

safety of the crew of any of the blocked 

vessels; or 

(3) Emergency repairs of any of the 

blocked vessels or environmental 

mitigation or protection activities 

relating to any of the blocked vessels. (b) The authorization in paragraph (a) 

of this general license applies to 

Hennesea Holdings Limited (Hennesea) 

and any entity in which Hennesea 

owns, directly or indirectly, a 50 

percent or greater interest. (c) This general license does not 

authorize: 

(1) The entry into any new 

commercial contracts involving the 

property or interests in property of any 

blocked persons, including the blocked 

persons described in paragraph (b) of 

this general license, except as 

authorized by paragraph (a); (2) The offloading of any cargo 

onboard any of the blocked vessels, 

including the offloading of crude oil or 

petroleum products of Russian 

Federation origin, except for the 

offloading of cargo that is ordinarily 

incident and necessary to address vessel 

emergencies authorized pursuant to 

paragraph (a) of this general license; (3) Any transactions related to the sale 

of crude oil or petroleum products of 

Russian Federation origin; (4) Any transactions prohibited by 

Directive 2 under E.O. 14024, 

Prohibitions Related to Correspondent 

or Payable-Through Accounts and 

Processing of Transactions Involving 

Certain Foreign Financial Institutions; 

(5) Any transactions prohibited by 

Directive 4 under E.O. 14024, 

Prohibitions Related to Transactions 

Involving the Central Bank of the 

Russian Federation, the National 

Wealth Fund of the Russian Federation, 

and the Ministry of Finance of the 

Russian Federation; or (6) Any transactions otherwise 

prohibited by the RuHSR, including 

transactions involving the property or 

interests in property of any person 

blocked pursuant to the RuHSR, other 

than transactions involving the blocked 

persons described in paragraph (b) of 

this general license, unless separately 

authorized. 

Bradley T. Smith, 

Director, Office of Foreign Assets 

Control. 

Dated: January 18, 2024. 

Bradley T. Smith, 

Director, Office of Foreign Assets Control. 

[FR Doc. 2024–03629 Filed 2–21–24; 8:45 am] 

BILLING CODE 4810–AL–P 

DEPARTMENT OF THE TREASURY 

Office of Foreign Assets Control 

31 CFR Part 591 

Publication of Venezuela Sanctions 

Regulations Web General License 5N 

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 5N, which was previously made 

available on OFAC’s website. 

DATES: GL 5N was issued on January 16, 

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 January 16, 2024, OFAC issued GL 

5N to authorize certain transactions 

otherwise prohibited by the Venezuela 

Sanctions Regulations (VSR), 31 CFR 

part 591. The GL was made available on 

OFAC’s website (https://

ofac.treasury.gov) when it was issued. 

GL 5N supersedes GL 5M, which was 

issued on October 18, 2023. The text of 

GL 5N is provided below. 

OFFICE OF FOREIGN ASSETS 

CONTROL 

Venezuela Sanctions Regulations 

31 CFR Part 591 

GENERAL LICENSE NO. 5N 

Authorizing Certain Transactions 

Related to the Petro ́leos de Venezuela, 

S.A. 2020 8.5 Percent Bond on or After 

April 16, 2024 

(a) Except as provided in paragraph 

(b) of this general license, on or after 

April 16, 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 January 16, 2024, General 

License No. 5M, dated October 18, 2023, 

is replaced and superseded in its 

entirety by this General License No. 5N. 

Bradley T. Smith, 

Director, Office of Foreign Assets Control. 

Dated: January 16, 2024. 

Bradley T. Smith, 

Director, Office of Foreign Assets Control. 

[FR Doc. 2024–03626 Filed 2–21–24; 8:45 am] 

BILLING CODE P 

DEPARTMENT OF THE TREASURY 

Office of Foreign Assets Control 

31 CFR Part 594 

Publication of Global Terrorism 

Sanctions Regulations Web General 

Licenses 22, 23, 24, 25, 26, and 27 

AGENCY: Office of Foreign Assets 

Control, Treasury. 

ACTION: Publication of web general 

licenses. 

SUMMARY: The Department of the 

Treasury’s Office of Foreign Assets 


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