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OFFICE OF FOREIGN ASSETS CONTROL
Venezuela Sanctions Regulations
31 CFR part 591
GENERAL LICENSE NO. 8O
Authorizing Transactions Involving Petróleos 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...
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1) This is one of 12 GLs that pre-dated the blocking of the Government of Venezuela (GOV), pursuant to EO 13884. It was amended in Aug. of 2019 to account for the blocking of the GOV.
2) With respect to the carveout for diluents, see FAQ # 672, and comments thereto, for a discussion on the proposition that "[a]ny transactions or dealings related to the exportation or reexportation of diluents, directly or indirectly, to Venezuela," are at the threshold level, prohibited by one or more of the Venezuela-related EOs in force as of June 6, 2019.
3) In the interim between when this GL was initially issued and when it was first amended, the president of PdVSA was designated pursuant to EO 13692, an EO for which no transactions...