Criminal Sanctions: Washington Extends Authorization of Liquefied Petroleum Gas Exports to Venezuela

The US government extended the authorization of liquefied petroleum gas exports to Venezuela. According to a statement from the Treasury Department’s Office of Foreign Assets Control (OFAC), some transactions related to the export or re-export, directly or indirectly, of liquefied petroleum gas to Venezuela are authorized until July 10, 2024.

“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% 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 10, 2024,″ the OFAC statement reads.

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This license was first issued in July 2021, and this is the second time the deadline has been extended. The last extension was set to expire on July 12. As previously, the license does not authorize any payments with oil or oil products. It also does not permit any transactions involving blocked persons other than PDVSA or its subsidiaries.

In May, PDVSA signed a strategic agreement with ENI and Repsol to export natural gas liquids (NGL) from the Cardón IV license. For the last six years, PDVSA and millions of Venezuelans have been facing illegal sanctions imposed by the US government, directly affecting the country’s financial and economic system.

Sanctions against the Venezuelan oil sector prevent any transaction to purchase spare parts for the industry or to hire maintenance technicians. Venezuela is subject to more than 900 unilateral coercive measures, which have resulted in a 99% reduction in income for the country.

 

(RedRadioVE) with Orinoco Tribune content

Translation: Orinoco Tribune

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