US authorises winding down of oil and gas operations in Venezuela until May 31, 2024 (5.647)

This circular updates our previous advice on temporary authorisations for certain Venezuela-related oil, gas and gold transactions. It explains that General License 44 has expired and been replaced by General License 44A, which allows a limited wind-down period until 31 May 2024.

London P&I also reminds members that transactions involving Minerven are no longer permitted after 13 February 2024, and that cover is unavailable for trade that breaches applicable sanctions.