General License 41
OFAC licence of November 2022 letting Chevron resume Venezuelan crude production.
General License 41 was the OFAC licence of 26 November 2022 that let Chevron resume limited Venezuelan crude operations while barring payments to the Venezuelan government. General License 135, issued for Russian diesel on 9 October 2026, also keeps Russia's sovereign accounts blocked.
Last refreshed: 12 October 2026
Timeline for General License 41
Mentioned in: OFAC opens US market to Russian diesel
Russia-Ukraine War 2026Background
General License 41 was a US Treasury licence issued by the Office of Foreign Assets Control on 26 November 2022. It let Chevron resume limited operations through its Venezuelan joint ventures with the state oil company PDVSA. It barred the payment of taxes and royalties to the Venezuelan government and of dividends to PDVSA.
OFAC later amended it into a wind-down licence, GL 41A, which expired in April 2025.
Its design outlived it. General License 135, issued on 9 October 2026, lets American buyers pay Russian diesel sellers but keeps the US-held accounts of the Bank of Russia and the Russian National Wealth Fund shut. That is the General License 41 formula applied to Moscow: trade in the commodity is licensed, while the sanctioned government is kept from the proceeds.