The US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) recently issued 4 general licenses suspending certain sanctions in relation to transactions involving oil, gas, and gold in Venezuela. This includes a six-month General License No. 44 (“GL 44”) Authorizing Transactions Relating to Oil or Gas Sector Operations in Venezuela, which will only be renewed if Venezuela meets its commitments under the electoral roadmap as well as other commitments.