23 Jul 2025
📜Venezuela Sanctions Regulations General Licenses Explained
Publication of Venezuela Sanctions Regulations Web General Licenses 41A, 5R, and 41B
Summary
The Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing three general licenses (GLs) issued pursuant to the Venezuela Sanctions Regulations: GLs 41A, 5R, and 41B, each of which was previously made available on OFAC's website.
Agencies
- Treasury Department
- Foreign Assets Control Office
Business Impact
$$$ - High
The publication of General Licenses related to the Venezuela Sanctions Regulations significantly impacts businesses, particularly those engaged with Chevron or Petróleos de Venezuela. The licenses authorize specific transactions while imposing restrictions, highlighting compliance obligations that directly affect operational decisions.