On 17 April 2024, the US government decided to reimpose certain targeted sanctions on the oil and gas sector of the Bolivarian Republic of Venezuela. This action was in response to the disqualification of Maria Corina Machado, a prominent Venezuelan opposition figure.
The reinstatement of the sanctions was justified by the failure of the government of Nicolás Maduro to open up the democratic process, in violation of the commitments made in October with the majority opposition, gathered in the Unity Platform, in the agreements signed in Barbados.
As a direct consequence, General License 44, which allowed most US oil companies to operate in Venezuela and the state energy company, Petróleos de Venezuela, to sell its oil in the United States and use the financial system to pay creditors and collect debts, expired.
In place of General License 44, the US government announced the issuance of General License 44A. All activities covered by this agreement must end by 31 May, giving companies 45 days to wind down their operations in Venezuela.
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