GL-44A
ExpiredAuthorizing the Wind Down of Transactions Related to Oil or Gas Sector Operations in Venezuela
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Summary
This license authorizes transactions otherwise prohibited by the Venezuela Sanctions Regulations (31 CFR part 591) that are ordinarily incident and necessary to winding down transactions related to oil or gas sector operations in Venezuela previously authorized under Venezuela General License 44. This includes transactions involving PdVSA and entities in which PdVSA owns 50 percent or greater interest. Authorization is valid through 12:01 a.m. eastern daylight time May 31, 2024, and replaces and supersedes General License No. 44 in its entirety effective April 17, 2024.
Conditions
The license does not authorize: (1) transactions involving any financial institution blocked under E.O. 13850 other than Banco Central de Venezuela or Banco de Venezuela SA Banco Universal; (2) provision of goods or services to, or new investment in, a Venezuelan entity owned/controlled by or a joint venture with a Russian Federation entity; (3) transactions related to new investment in oil or gas sector operations in Venezuela by Russian Federation persons or entities they own/control; (4) transactions prohibited by E.O. 13808 subsections 1(a)(i)–(iii) or 1(b), except payment of invoices for goods/services related to oil or gas operations or delivery of oil or gas to creditors of the Government of Venezuela for debt repayment; (5) transactions prohibited by E.O. 13827 or E.O. 13835; or (6) unblocking of any property blocked under the VSR. Compliance with other Federal agency requirements (e.g., Commerce's Bureau of Industry and Security) is not relieved.