1240. For purposes of Venezuela General License (GL) 47 (Authorizing the Sale of U.S.-Origin Diluents to Venezuela), how does OFAC define diluent?

For the purposes of GL 47, diluent means a light hydrocarbon liquid, such as natural gas condensate, naphtha, or light crude oil, that is added to heavy crude oil or bitumen to reduce its viscosity and density in order to transport, export, store, or process more easily.