GL-41B
ExpiredAuthorizing the Wind Down of Certain Transactions Related to Chevron Corporation's Joint Ventures in Venezuela
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Summary
General License 41B authorizes all transactions ordinarily incident and necessary to the wind down of transactions previously authorized by Venezuela General License 41, related to Chevron Corporation's operation and management of its joint ventures in Venezuela involving PdVSA. The authorization covers transactions otherwise prohibited by E.O. 13850, E.O. 13857, or E.O. 13884, as incorporated into the Venezuela Sanctions Regulations. The wind-down period runs through 12:01 a.m. eastern daylight time, May 27, 2025, and replaces and supersedes General License No. 41A.
Conditions
The license does not authorize: (1) payment of taxes or royalties to the Government of Venezuela; (2) payment of dividends (including in kind) to PdVSA or PdVSA-majority-owned entities; (3) sale of petroleum or petroleum products from the Chevron JVs for export to any jurisdiction other than the United States; (4) any transaction involving a Venezuela-located entity owned or controlled by a Russian Federation entity; (5) any transaction otherwise prohibited by the VSR, including those involving blocked persons other than those described in paragraph (a), unless separately authorized. The license also does not authorize any expansion of the Chevron JVs into new fields in Venezuela, and does not relieve persons from compliance with other Federal agencies including Commerce's Bureau of Industry and Security.