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OFFICE OF FOREIGN ASSETS CONTROL
Venezuela Sanctions Regulations
31 CFR part 591
GENERAL LICENSE NO. 40C
Authorizing Certain Transactions Involving the Exportation or Reexportation of Liquefied Petroleum Gas to Venezuela
(a) Except as provided in paragraph (b) of this general license, all transactions related to the exportation or reexportation, directly or indirectly, of liquefied petroleum gas to Venezuela, involving the Government of Venezuela, Petróleos de Venezuela, S.A. (PdVSA), or any entity in which PdVSA owns, directly or indirectly, a 50 percent or greater interest, that are prohibited by E.O. 13850 of November 1, 2018, as amended by E.O. 13857 of January 25, 2019, or E.O. 13884 of August 5, 2019, each as incorporated into the Venezuela Sanctions Regulations, 31 CFR part 591 (the VSR), are authorized through 12:01 a.m. eastern daylight time, July 8, 2025....
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1) See related FAQs FAQ # 914 and FAQ # 915.
2) This GL continues the trend of the issuance of GLs with an authorization section that refers to "all transactions and activities related to" otherwise prohibited activities, thereby making it so U.S. persons can facilitate or otherwise be involved in underlying transactions that do not otherwise involve U.S. persons (e.g., the processing of payments).
3) Note that the authorization does not authorize any activities otherwise prohibited by EO 13808, e.g. payments owed by PDVSA or the Government of Venezuela for covered products that exceed the applicable "new debt" tenor. This fact takes on particular importance given the exclusion from the GL of transactions related to "[a]ny payment-in-kind of petroleum or petroleum products." ...