OFAC Issues Limited Renewal of Venezuela-Related License Involving LPG
The Office of Foreign Assets Control this week revised and extended a Venezuela-related license that authorizes certain transactions related to liquefied petroleum gas. General License 40D, which replaces 40C, authorizes certain transactions that are "ordinarily incident and necessary to the delivery and offloading" of liquefied petroleum gas in Venezuela involving the government, state-owned Petroleos de Venezuela or any entity owned 50% or more by PdVSA. Those transactions are authorized through 12:01 a.m. ET Sept. 5 as long as the liquefied petroleum gas was loaded on a vessel on or before July 7.
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The license had previously authorized certain transactions related to exports or reexports of liquefied petroleum gas to Venezuela through 12:01 a.m. ET on July 8 (see 2407080008).