Sanctions Profile: Venezuela

At a glance

EU sanctions on Venezuela were first imposed in November 2017 in view of the country’s continuing deterioration of democracy, the rule of law and human rights (Council Decision (CFSP) 2017/2074 & Council Regulation (EU) 2017/2063).

Subscribe for full access

News

OFAC amends 3 Venezuela-related General Licences and issues FAQ

OFAC has issued 3 amended Venezuela-related general licences: General Licence 7B, General Licence 8a and General Licence 13a which replace and supersede General Licences 7A, 8 and 13, respectively. The amendments were made “to clarify these general licenses do not authorize transactions or dealings related to the exportation or reexportation of diluents, directly or indirectly, […]

VenezuelaVenezuela

US designates 2 entities and 2 vessels in Venezuelan oil sector

OFAC’s 4 designations last week (10 May 2019) target two companies that operate in the oil sector of the Venezuelan economy and have moved oil to Cuba. The sanctions constitute “a direct response to SEBIN’s illegal arrest of National Assembly members”. Monsoon Navigation Corporation and its vessel Ocean Elegance, and Serenity Maritime Limited and its […]

VenezuelaVenezuela

US lifts sanctions on Venezuelan official

OFAC has delisted Cristopher Figuera, the former Director General of Venezuela’s National Intelligence Service (SEBIN), because, last week, he “broke ranks with the Maduro regime and rallied to the support of the Venezuelan constitution and the National Assembly”. The US Department of State has said sanctions may be removed where designated individuals “refuse to take […]

VenezuelaVenezuela

OFAC designates Venezuelan Minister for Foreign Affairs and judge

OFAC has imposed asset freezing measures and a travel ban on two individuals determined to be current or former officials of the Venezuelan government: Jorge Alberto Arreaza Montserrat, the Venezuelan Minister for Foreign Affairs, and Carol Bealexis Padilla de Arretureta, the judge in charge of the First Special Court of First Instance in Control Functions, […]

VenezuelaVenezuela

OFAC designates Venezuelan Central Bank and issues general licences

OFAC has designated Banco Central de Venezuela, the central bank of Venezuela, pursuant to Executive Order (E.O.) 13850, as amended, for operating in the financial sector of the Venezuelan economy. One of the bank’s directors, Iliana Josefa Ruzza Terán was also designated, pursuant to E.O. 13692, for being a current or former official of the […]

VenezuelaVenezuela

Current Sanctions

EU UK

Parent Regulation

Council Regulation (EU) 2017/2063

Amended by:

Council Implementing Regulation (EU) 2018/88

Council Implementing Regulation (EU) 2018/899

Council Implementing Regulation (EU) 2018/1653

Parent Decision

Council Decision (CFSP) 2017/2074

Amended by:

Council Decision (CFSP) 2018/90

Council Decision (CFSP) 2018/901

Council Decision (CFSP) 2018/1656

Venezuela (Sanctions) (EU Exit) Regulations 2019