International Trade AlertKey Points
Three GLs issued by OFAC last week—GL 48, GL 49 and GL 50 (replaced and superseded by amended GL 50A)—represent the Trump administration’s first significant actions providing sanctions relief related to upstream oil and gas sector operations in Venezuela.
The issuance of these GLs bookended a trip by U.S. Secretary of Energy Chris Wright to Caracas, where he met with Venezuelan Interim President Delcy Rodriguez and delivered remarks emphasizing the Trump adm...
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