US sanctions break for Venezuela LPG exports ‘not a seismic policy shift’



John Basquill | Global Trade Review

The US government’s decision to lift sanctions on liquefied petroleum gas (LPG) exports to Venezuela should be seen as a “humanitarian gesture” rather than a wholesale shift in trade relations, experts suggest.

The Office of Foreign Assets Control (OFAC), a sanctions regulator that sits within the US Department of Treasury, issued a general licence this month relaxing certain Trump-era restrictions on Venezuelan trade.

Under the licence, exports of LPG are permitted to companies linked to the Venezuelan government or owned by state oil company Petróleos de Venezuela (PdVSA).

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