Expiration of General License 44 – US Reimposes Oil Sanctions Against Venezuela Over Election Concerns

April 2024
Region: Latin America
On 18 October 2023, the US implemented a temporary suspension of specific sanctions against Venezuela in response to the signing of an electoral roadmap agreement between Venezuela’s unitary platform and representatives of President Maduro. Notably, this suspension included the issuance of General License 44, which broadly permitted transactions related to oil and gas sector operations in Venezuela until 18 April 2024.