USA’s OFAC Rescinds #Oil #Sanctions Relief for #Venezuela (GL 44A)



GL 44A does not impact other GLs besides GL 44 related to oil and gas operations in Venezuela, most notably GL 41 authorizing certain transactions related to Chevron's joint ventures (JVs) in Venezuela and GL 8M —authorizing transactions involving specified companies operating in Venezuela for the limited maintenance or wind down of such companies' operations.

Further, GLs 3I and 9H, authorizing certain secondary trading of previously issued Government of Venezuela and PDVSA securities, has not at this time been revoked.

https://www.millerchevalier.com/publication/trade-compliance-flash-ofac-rescinds-venezuela-license-providing-oil-sanctions-relief

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