U.S. Treasury Authorizes New Energy Transactions in Venezuela
(MENAFN) The US Department of the Treasury announced that its Office of Foreign Assets Control (OFAC) released two fresh general licenses on Friday aimed at easing financial dealings within Venezuela’s energy industry.
According to the department, General License 49 grants permission for negotiating and entering into conditional agreements tied to specific investments in the country. Meanwhile, General License 50 authorizes transactions connected to oil and gas sector activities across the South American nation.
This decision comes after recent judicial changes in Venezuela and the detention of former President Nicolás Maduro. Officials indicated that the department is continuing to adjust and fine-tune its sanctions framework concerning Venezuela.
The newly introduced authorizations took effect Friday at 0800GMT, the department stated.
U.S. authorities emphasized that they retain the power to withdraw or modify these licenses depending on adherence to regulations and evolving policy considerations.
According to the department, General License 49 grants permission for negotiating and entering into conditional agreements tied to specific investments in the country. Meanwhile, General License 50 authorizes transactions connected to oil and gas sector activities across the South American nation.
This decision comes after recent judicial changes in Venezuela and the detention of former President Nicolás Maduro. Officials indicated that the department is continuing to adjust and fine-tune its sanctions framework concerning Venezuela.
The newly introduced authorizations took effect Friday at 0800GMT, the department stated.
U.S. authorities emphasized that they retain the power to withdraw or modify these licenses depending on adherence to regulations and evolving policy considerations.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Comments
No comment