Brian Fleming Discusses U.S. Government's Decision to Lift Sanctions on LPG Exports to Venezuela
"U.S. Sanctions Break for Venezuela LPG Exports 'Not a Seismic Policy Shift'"
Global Trade Review
Brian Fleming, Member at Miller & Chevalier, commented on the U.S. government's decision to authorize certain liquefied petroleum gas (LPG) exports to Venezuela. The Office of Foreign Assets Control (OFAC) issued a general license in July relaxing certain Trump-era restrictions on Venezuelan trade related to LPG. Under the general license, LPG exports are permitted to companies linked to the Venezuelan government or owned by state oil company Petróleos de Venezuela (PDVSA). Fleming told Global Trade Review that the license is "more a modest humanitarian gesture than a seismic shift in US sanctions policy," adding that "[T]his action does demonstrate that the Biden administration is willing to abandon the all-or-nothing, maximum pressure approach to economic sanctions favored by the Trump administration."