U.S. Treasury Dept authorizes liquefied petroleum gas exports to Venezuela

The U.S. Treasury Department on Monday authorized through July 8, 2022 some exports and re-exports of liquefied petroleum gas (LPG) to Venezuela that had been prohibited by executive orders during the Trump administration. The Office of Foreign Assets Control, part of the Treasury Department, issued a license allowing shipments of the gas in transactions involving the government of Venezuela, state energy company Petroleos de Venezuela (PDVSA) or any entity in which PDVSA owns a 50% or greater interest.

The U.S. Treasury Department on Monday authorized through July 8, 2022 some exports and re-exports of liquefied petroleum gas (LPG) to Venezuela that had been prohibited by executive orders during the Trump administration.

The Office of Foreign Assets Control, part of the Treasury Department, issued a license allowing shipments of the gas in transactions involving the government of Venezuela, state energy company Petroleos de Venezuela (PDVSA) or any entity in which PDVSA owns a 50% or greater interest. The license does not allow any payment-in-kind of oil or oil products, OFAC said. Many people in Venezuela burn LPG for cooking fuel but it is in short supply amid the collapse of the economy. U.S. sanctions on PDVSA have choked investments in its petrochemical complex, leading some consumers to burn wood for fuel, which can lead to health problems.