The Office of Foreign Assets Control (OFAC), part of the U.S. Treasury Department, issued a statement authorizing exports to Venezuela of liquefied petroleum gas until July 12, 2023.

General License No. 40A, issued this Thursday, July 7, authorizes certain transactions related to the export or re-export, directly or indirectly, of liquefied petroleum gas (LPG). This regulation replaces in its entirety General License No. 40, dated July 12, 2021.

The statement states that general license N°40A does not authorize:

  1. Any payment in kind for petroleum or petroleum products.
  2. Any transaction or activity prohibited by the VSR, prohibited by any other part of Chapter V of 31 CFR.

This last point specifies that any «blocked» person other than Pdvsa, any entity in which Pdvsa owns, directly or indirectly, an interest of 50 percent or more, or any person of the Government of Venezuela that is blocked pursuant to E.O. 13884, must abstain.

It is further specified that General License No. 40A does not exempt any person from complying with the requirements of other federal agencies.

Liquefied petroleum gas (LPG) is a group of hydrocarbon-based gases derived from the refining of crude oil or the fractionation of natural gas streams, such as ethane, propane, normal butane, isobutane and natural gasoline. Uses of LPG include: in homes for cooking and gas heaters, as an automotive fuel, for powering petrochemical plants, etc.

To view General License N°40A, click here. 


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