Regulatory Alerts2025-07-23 | 2025-13846Publication of Venezuela Sanctions Regulations Web General Licenses 41A, 5R, and 41B
The Department of the Treasury’s Office of Foreign Assets Control (OFAC) is publishing three general licenses issued pursuant to the Venezuela Sanctions Regulations: GLs 41A, 5R, and 41B. GL 41A and GL 41B authorize the wind down of transactions related to Chevron Corporation’s joint ventures in Venezuela involving Petroleos de Venezuela, S.A., while GL 5R authorizes transactions related to the Petroleos de Venezuela, S.A. 2020 8.5 Percent Bond on or after July 3, 2025. These licenses replace previous general licenses and specify prohibited activities such as payments of taxes, royalties, or dividends to the Venezuelan government or specific entities.
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