OFAC issues Venezuela General Licence and amends Venezuela FAQ

OFAC has published Venezuela-related General Licence 34 “Authorising Transactions Involving Certain Government of Venezuela Persons” and has amended FAQ 680. Executive Order 13884 blocks the property of individuals and entities in the Government of Venezuela, as defined as the State or Government of Venezuela, and any political subdivision or agency of the government, including the Central Bank and PdVSA (see post). This licence authorises transactions with certain Government of Venezuela individuals falling within the definition provided they are: US citizens; permanent US residents; individuals in the US who have a valid visa; and former employees and contractors of the Venezuelan government. OFAC Notice.