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Venezuela General License 40 updated by OFAC

It’s now 40A… and it expires a year from now (July 12, 2023). Otherwise, it’s identical:

OFFICE OF FOREIGN ASSETS CONTROL
Venezuela Sanctions Regulations 31 CFR part 591
GENERAL LICENSE NO. 40A
Authorizing Certain Transactions Involving the Exportation or Reexportation of Liquefied Petroleum Gas to Venezuela

(a) Except as provided in paragraph (b) of this general license, all transactions and activities related to the exportation or reexportation, directly or indirectly, of liquefied petroleum gas to Venezuela, involving the Government of Venezuela, Petróleos de Venezuela, S.A. (PdVSA), or any entity in which PdVSA owns, directly or indirectly, a 50 percent or greater interest, that are prohibited by 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), are authorized through 12:01 a.m. eastern daylight time, July 12, 2023.

(b) This general license does not authorize:

(1) Any payment-in-kind of petroleum or petroleum products; or

(2) Any transactions or activities otherwise prohibited by the VSR, prohibited by any other part of 31 CFR chapter V, or involving any blocked persons other than PdVSA, any entity in which PdVSA owns, directly or indirectly, a 50 percent or greater interest, or any Government of Venezuela person that is blocked solely pursuant to E.O. 13884.

(c) Effective July 7, 2022, General License No. 40, dated July 12, 2021, is replaced and superseded in its entirety by this General License No. 40A.
Note to General License No. 40A: Nothing in this general license relieves any persons from compliance with the requirements of other Federal agencies, including the Department of Commerce’s Bureau of Industry and Security.

Links:

OFAC Notice

General License 40A

Categories: Licenses OFAC Updates Venezuela sanctions

eric9to5

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