OFAC issues general license to enable transactions involving liquified petroleum gas to Venezuela

On July 8, 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control issued General License 40C under Venezuela Sanctions Regulations, 31 CFR part 591.  The general license was issued to extend authorizations regarding transactions involving the export or reexport of liquified petroleum gas to Venezuela until July 8, 2025, for transactions that involve the Government of Venezuela, Petróleos de Venezuela, SA (“PdVSA”) , or any entity owned 50 percent or more by the PdVSA.  General License 40C effectively replaces and supersedes GL 40B in its entirety.

General License 40C