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HomeInsightsCampaigns & ElectionsVenezuela General License 44 expires at 12:01 AM on April 18

Venezuela General License 44 expires at 12:01 AM on April 18

By Caribbean News Global fav

VENEZUELA / USA – After a careful review of the current situation in Venezuela, the United States determined Nicolas Maduro and his representatives have not fully met the commitments made under the electoral roadmap agreement, which was signed by Maduro representatives and the opposition in Barbados in October 2023, the office of the US Department of State, said in a press release, April 17, 2024.

Venezuela: Sanctions actions and supporting democracy January 30, 2024, reads in part:

“In support of the Barbados Agreement, the United States issued General License 44, which provides relief to Venezuela’s oil and gas sector. Absent progress between Maduro and his representatives and the opposition Unitary Platform, particularly on allowing all presidential candidates to compete in this year’s election, the United States will not renew the license when it expires on April 18, 2024. Additionally, the United States is revoking General License 43, which authorized transactions involving Minerven – the Venezuelan state-owned gold mining company. US persons will have fourteen days to wind down any transactions that were previously authorized by that license.”

US revoking General License 43 on Venezuela in support of democracy

“Therefore, General License 44, which authorizes transactions related to oil or gas sector operations in Venezuela, will expire at 12:01 AM on April 18,” the US Department of State announced on April 17, 2024.

“Despite delivering on some of the commitments made under the Barbados electoral roadmap,” US Department of State, advised that “we are concerned that Maduro and his representatives prevented the democratic opposition from registering the candidate of their choice, harassed and intimidated political opponents, and unjustly detained numerous political actors and members of civil society. We again call on Maduro to allow all candidates and parties to participate in the electoral process and release all political prisoners without restrictions or delay.”  

In order to implement an orderly process following the expiration of General License 44, the United States will issue a 45-day wind-down license. Treasury’s Office of Foreign Assets Control also will consider requests for specific licenses to continue activities beyond the end of the wind-down period on a case-by-case basis.

“We will continue to support Venezuelans’ aspirations for a more democratic, stable, and prosperous Venezuela. We and our partners in the international community urge Maduro to uphold all the commitments made under the electoral roadmap established by the signatories of the Barbados Agreement.”~ US Department of State.

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