Tagged: OFAC Venezuela Sanctions

OFAC Provides Venezuela with Sanctions Relief, Authorizes Certain Transactions in the Oil and Gas Industry

OFAC Provides Venezuela with Sanctions Relief, Authorizes Certain Transactions in the Oil and Gas Industry

Matt Stankiewicz, Partner at The Volkov Law Group PC, rejoins us for an important blog posting concerning OFAC’s recent relaxation of the Venezuela Sanctions Program. Matt can be reached at [email protected]. On October 18, 2023, the U.S. Department of Treasury’s Office of Foreign Assets Control (“OFAC”) took several steps to provide Venezuela with some limited relief from its sanctions.  The relief includes General Licenses authorizing...

OFAC Implements Broad Sanctions Against Venezuela

OFAC Implements Broad Sanctions Against Venezuela

In a major announcement and escalation of the sanctions regime targeting President Maduro and Venezuela, on August 5, 2019, the Trump Administration issued a new Executive Order 13884 (Here) to block all property of the Venezuela Government.  The aggressive action was implemented to target the Maduro regime.  At the same time, OFAC issued 12 amended general licenses (Here) and 13 new general licenses (Here), and...