ARTICLE · 23 OCTOBER 2023

OFAC Issues Venezuela‑Related Sanctions Relief

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On October 18, 2023, the U.S. Department of the Treasury's ("Treasury") Office of Foreign Assets Control ("OFAC") issued four General Licenses suspending for six months certain sanctions on Venezuela...

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October 20, 2023 – On October 18, 2023, the U.S. Department of the Treasury's ("Treasury") Office of Foreign Assets Control ("OFAC") issued four General Licenses suspending for six months certain sanctions on Venezuela in response to the signing of an electoral roadmap agreement between Venezuela's Unitary Platform and representatives of the current de facto ruler, Nicolas Maduro. Concurrently with implementing the sanctions relief, the U.S. government noted that it is "prepared to amend or revoke authorizations at any time, should representatives of Maduro fail to follow through on their commitments."

We summarize below these announcements.

Oil and Gas Sector Sanctions Relief

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OFAC Issues Venezuela‑Related Sanctions Relief

Oil and Gas Sector Sanctions Relief

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