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News 15 Jul, 2021

Sanctions - OFAC issues new licence for carriage of LPG to Venezuela

Tony Paulson

Head of Asia & Corporate Director

OFAC issued General Licence 40 (“GL40”) on 12 July 2021 which permits certain transactions relating to the exportation or re-exportation of LPG to Venezuela until 8 July 2022.

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Details can be found in a useful Client Alert issued by the Club’s U.S. attorneys Freehill, Hogan and Mahar, links to which and GL40 can be found below.

It should be noted however that GL40 relates only to LPG shipments into and not from Venezuela.

Members with any questions on this or any other sanctions matter are advised to contact the Managers.

Venezuela Sanctions Regulations

Department of the Treasury - General license no.40

View here

Freehill Hogan & Mahar - Client Alert

Client Alert: OFAC Issues general license 40

View here