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OFFICE OF FOREIGN ASSETS CONTROL
Venezuela Sanctions Regulations
31 CFR Part 591
GENERAL LICENSE NO. 3I
Authorizing Transactions Related to, Provision of Financing for, and Other Dealings in Certain Bonds
(a) Except as provided in paragraphs (e) and (f) of this general license, all transactions related to, the provision of financing for, and other dealings in bonds specified in the Annex to this general license (GL 3I Bonds) that would be prohibited by Subsection 1(a)(iii) of Executive Order (E.O.) 13808 of August 24, 2017 or by E.O. 13850 of November 1, 2018, each as amended by E.O. 13857 of January 25, 2019, or by E.O. 13884 of August 5, 2019, as collectively incorporated into the Venezuela Sanctions Regulations, 31 CFR part 591 (the VSR), are authorized, including, on or after October 18, 2023, divestment or transfer...
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As it relates to this particular item, OFAC removed the otherwise major restriction at paragraph (e)(1) stating that the GL did not authorize "U.S. persons to purchase or invest in, or to facilitate the purchase of or investment in, directly or indirectly, GL 3H Bonds, other than purchases of or investments in GL 3H Bonds that are ordinarily incident and necessary to the divestment or transfer of holdings in GL 3H Bonds," and the requirement that divestments must be to a non-U.S. person has also...