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Brian Fleming Discusses U.S. Government's Decision to Lift Sanctions on LPG Exports to Venezuela

Subtitle
"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 PetrĂ³leos 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."