Following a comprehensive assessment of the situation in Venezuela, the United States has determined that Nicolas Maduro and his representatives have not fully complied with the commitments outlined in the electoral roadmap agreement. This agreement, signed by representatives of Maduro and the opposition in Barbados in October 2023, served as a benchmark for evaluating Venezuela’s progress.
Consequently, General License 44, which previously authorized transactions pertaining to the oil or gas sector operations in Venezuela, will cease to be valid as of 12:01 AM on April 18.
While acknowledging partial progress in fulfilling commitments under the Barbados electoral roadmap, concerns persist regarding actions taken by Maduro’s administration. These include alleged obstruction of the democratic opposition’s efforts to register their preferred candidate, reports of harassment and intimidation against political opponents, and the detention of various political figures and members of civil society.
In response to the expiration of General License 44, the United States will issue a 45-day wind-down license to facilitate an orderly transition. Requests for specific licenses to sustain activities beyond this wind-down period will be considered on a case-by-case basis by the Treasury’s Office of Foreign Assets Control.
This development underscores the importance of vigilance in maintaining compliance with Venezuela-related sanctions regulations. Businesses and individuals engaged in transactions involving Venezuela’s oil or gas sector operations should review their activities to ensure adherence to current sanctions measures.
The United States, in coordination with its international partners, remains committed to supporting the Venezuelan people’s aspirations for democracy, stability, and prosperity. Maduro is urged to honor all commitments outlined in the electoral roadmap established under the Barbados Agreement.
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