FEBRUARY 2, 2026 CIRCULAR NO. 03/26 TO MEMBERS OF THE ASSOCIATION Dear Member: OFAC ISSUES GENERAL LICENSE AUTHORIZING CERTAIN ACTIVITIES INVOLVING VENEZUELAN-ORIGIN OIL On January 29, 2026, the U.S. Department…
On October 18, 2023, the US Office of Foreign Assets Control (“OFAC”) issued General License 44 broadly permitting US and non-US persons to deal with Venezuelan crude and gas. Under…