Regulatory Alerts2024-08-21 | 2024-18754Publication of Venezuela Sanctions Regulations Web General License 40C
The Department of the Treasury’s Office of Foreign Assets Control (OFAC) published General License 40C to authorize specific transactions involving the exportation or reexportation of liquefied petroleum gas to Venezuela. This license authorizes dealings with the Government of Venezuela, Petroleos de Venezuela, S.A., and related entities through July 8, 2025, while explicitly prohibiting payments-in-kind of petroleum products and transactions involving other blocked persons. GL 40C supersedes the previous General License 40B and remains subject to compliance with other federal agency requirements.
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