OFAC extends deadline for Chevron to liquidate operations in Venezuela
Chevron will have until May 27 to liquidate its operations in Venezuela, according to an OFAC decision
Chevron has until May 27 to liquidate its operations in Venezuela. This was decided by the U.S. Office of Foreign Assets Control (OFAC), according to an announcement on Tuesday.
U.S. President Donald Trump had been considering giving the oil company a little breathing room since last week. In this regard, it is worth mentioning that the Department of the Treasury’s 41B license, effective Monday, March 24, revoked the license issued earlier this month, which established April 3 as the deadline for liquidation.
Economist Francisco Rodríguez referred to these licenses, indicating that they are typically issued for short periods and are routinely renewed. As an example, he mentioned General License 5, which has been renewed 18 times. This raises the possibility of a similar situation occurring with Chevron’s license.
M.Pino
With information from national and international media and agencies
(Reference image source: Jared Evans en Unsplash)
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