The U.S. State Department has decided not to renew General License 44

Published: Jan 31, 2024 09:11

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The U.S. State Department has decided not to renew General License 44 for certain energy trade sanctions on Venezuela. The State Department issued a statement on January 30th local time, stating that it will not renew General License 44 for Venezuela. The license temporarily authorized certain transactions related to the oil and gas industry between the U.S. and Venezuela, and was set to expire on April 18, 2024. The statement indicated that there has been a lack of progress in allowing all presidential candidates to participate in elections by the Venezuelan government and opposition, and as a result, the U.S. will not renew the license upon its expiration. In addition, the U.S. will also revoke General License 43, which involved transactions with Venezuela's state-owned gold mining company.

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