Venezuela Sanctions Archives - Corruption, Crime & Compliance

3 May, 2024

DOJ Charges Ten Individuals for Violating Venezuelan Sanctions

On April 22, 2024, the U.S. Department of Justice announced the indictment of 10 Venezuelan individuals for conspiring to violate the International Economic Emergency Powers Act (“IEEPA”). According to the DOJ, the individuals conspired to decade U.S. sanctions imposed on Petroleos de Venezuela S.A. (“PDVSA”) in January 2019. In April 2024, one of the defendants was arrested upon arrival at Miami’s internal Airport. The Violations...

briqven factory in ciudad guayana in venezuela

General

25 Apr, 2024

OFAC Rolls Back Venezuelan Sanctions Relief, Again Prohibiting Oil and Gas Transactions

On April 17, 2024, OFAC formally rolled back the sanctions relief it previously provided to the Venezuelan oil and gas industry. While OFAC provided the initial relief believing that Venezuela would permit a fair and open election, it appears that the Maduro regime has fallen short of its commitments. As such, and as part of its agreement with the beleaguered South American nation, OFAC has...

La Oficina de Control de Activos Extranjeros (OFAC) otorgó alivios a las sanciones comerciales en Venezuela y autorizó ciertas transacciones en la industria de petroleo y gas.

Uncategorized

31 Oct, 2023

La Oficina de Control de Activos Extranjeros (OFAC) otorgó alivios a las sanciones comerciales en Venezuela y autorizó ciertas transacciones en la industria de petroleo y gas.

Matt Stankiewicz, socio en The Volkov Law Group PC, se une nuevamente en nuestro blog con una tema de suma importancia, alivios del gobierno de Estados Unidos respecto del programa de sanciones comerciales de Venezuela por parte de la OFAC. Para mayor información: [email protected] El 18 de octubre de 2023, la Oficina de Control de Activos Extranjeros (“OFAC”) del Departamento del Tesoro de los Estados...

Banco Popular de Puerto Rico Settles with OFAC for $255,937 for Violations of Venezuela Sanctions Program

General

9 Jun, 2022

Banco Popular de Puerto Rico Settles with OFAC for $255,937 for Violations of Venezuela Sanctions Program

The Treasury Department’s Office of Foreign Asset Control (“OFAC”) is a busy enforcement agency. OFAC has implemented the comprehensive Russia Sanctions Program in response to Russia’s invasion of the Ukraine. The scope and pace of this process has been unprecedented. Along the way, OFAC is continuing a steady pace of sanctions enforcement actions. In a recent action, Banco Popular de Puerto Rico (“Banco Popular”), a...

Sanctions Updates: Cuba, North Korea, Russia, Sudan, Venezuela

Uncategorized

6 Dec, 2017

Sanctions Updates: Cuba, North Korea, Russia, Sudan, Venezuela

Sanctions compliance is challenging because of the changing nature of sanctions regulations and individuals identified as Specially Designated Nationals. With each new administration, foreign policy priorities are usually played out in a variety of sanctions regimes and policies. This year, however, saw Congress enter the regulatory fray, when it imposed detailed regulatory requirements and procedures designed to constrain the current administration from making major changes...