This Wednesday, April 17, USA, punctually the Treasury Departmentannounced that revokes (or does not renew) General License 44which was what allowed the sanctions relief for Venezuela.
In this way, taking into account the deadline of April 18, All transactions with gas and electricity are prohibited. Venezuelan oil.
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Part of the decision is due to blocking the possibility of registration of the candidacy of Maria Corina Machado for this year’s presidential elections.
Nevertheless, The United States will apply the 44A licensewhich gives companies that did business with PDVSAa period of 45 days for them to close any progress.
For its part, the State Department stated through the spokesperson that, to implement an orderly process after the expiration of General License 44, The United States will issue this 45-day settlement license (44A).
“The Treasury’s Office of Foreign Assets Control will also consider specific license applications to continue activities beyond the end of the liquidation period, on a case-by-case basis. We will continue to support the aspirations of Venezuelans for a more democratic, stable and prosperous Venezuela. We and our partners in the international community urge Maduro to fulfill all the commitments made in the electoral roadmap established by the signatories of the Barbados Agreement,” they explain.
Additionally, the OFAC text of the new license, 44a, warns that it does not authorize:
- Any transaction involving any financial institution blocked pursuant to the Executive Order (EO) 13850 other than the Central Bank of Venezuela or Banco de Venezuela SA Banco Universal
- He supply of goods or services to, or a new investment in, an entity located in Venezuela that is owned or controlled by, or is a joint venture with, an entity located in the Russian Federation
- Any transaction related to new investments in operations in the oil or gas sector in Venezuela by a person located in the Russian Federation or any entity owned or controlled by a person located in the Russian Federation
- Any transaction prohibited by subsections 1(a)(i) – (iii) or 1(b) of EO 13808, other than the payment of invoices for goods or services related to oil or gas sector operations in Venezuela, or the delivery of oil or gas from Venezuela to creditors of the Government of Venezuela, including creditors of PdVSA Entities, in order to pay debts.
- Any transaction prohibited by EO 13827 or EO 13835; either
- The unlocking of any property locked under the VSR. (c) As of April 17, 2024, General License No. 44, dated October 18, 2023, is superseded and superseded in its entirety by this General License No. 44A.
See the complete decision here at this link: https://ofac.treasury.gov/media/932826/download?inline
