July 20, 2024

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Treasury Issues Venezuela General License 41 Upon Resumption of Mexico City Talks

Treasury Issues Venezuela General License 41 Upon Resumption of Mexico City Talks

WASHINGTON — On November 26th, the Unitary Platform and the Maduro regime introduced the resumption of talks in Mexico City a humanitarian arrangement targeted on schooling, wellbeing, meals security, flood response, and electrical energy packages that will profit the Venezuelan men and women and arrangement on the continuation of talks targeted on the 2024 elections. Subsequent this announcement and reliable with U.S. authorities coverage, the Division of the Treasury’s Place of work of International Assets Regulate (OFAC) issued Venezuela Common License (GL) 41, authorizing Chevron Corporation to resume minimal natural resource extraction operations in Venezuela. This action displays longstanding U.S. coverage to supply targeted sanctions aid based mostly on concrete measures that ease the struggling of the Venezuelan persons and support the restoration of democracy.

This authorization prevents PdVSA from receiving profits from the oil product sales by Chevron. GL 41 authorizes action related to Chevron’s joint ventures in Venezuela only, and does not authorize other action with PdVSA. Other Venezuela-similar sanctions and limitations imposed by the United States continue being in location the United States will vigorously implement these sanctions and will continue on to maintain accountable any actor that engages in corruption, violates U.S. regulations, or abuses human rights in Venezuela. 

GL 41 authorizes transactions ordinarily incident and essential to particular functions linked to the procedure and management by Chevron Company or its subsidiaries of its joint ventures involving blocked Venezuelan state-owned oil business Petroleos de Venezuela, S.A. (PdVSA) or any entity in which PdVSA owns, straight or indirectly, a 50 percent or greater fascination.

The bulletins by the Unitary System and the Maduro regime are critical steps in the right course to restore democracy in the region. The United States welcomes and supports the reopening of negotiations involving the Unitary System and the Maduro regime, as element of our longstanding plan to help the peaceful restoration of democracy, free of charge and honest elections, and respect for the legal rights and freedoms of Venezuelans.

Concurrent with the issuance of Venezuela GL 41, OFAC also issued general public assistance indicating that U.S. folks are approved to present goods and providers for certain pursuits as specified in GL 41 and that non-U.S. people frequently do not danger U.S. sanctions publicity for facilitating transactions that are authorized by GL 41. In gentle of Venezuela GL 41, OFAC also extended Venezuela GL 8K and eradicated Chevron from that license.

Examine Venezuela Basic License 41 and Venezuela Common License 8K.