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).
The UK adopted The Venezuela (Sanctions) (EU Exit) Regulations 2019 at the end of the Brexit transition period. It aims to encourage the government of Venezuela to respect democratic principles, comply with international human rights law, and respect human rights.
The US District Court for the District of Delaware has granted 4 companies the right to seize shares in Delaware corporation PDV Holding, Inc. that are held by Venezuelan state-owned petroleum company Petróleos de Venezuela, S.A. (PDVSA), in order to collect on debts owed by Venezuela. This is because the companies, OI European Group B.V., Huntington Ingalls Industries Inc, ACL1 …
OFAC yesterday issued 3 Russia-related and a Venezuela-related General Licence (GL). Notice & Notice. Russia OFAC has issued: Russia-related GL 6C, “Transactions Related to Agricultural Commodities, Medicine, Medical Devices, Replacement Parts and Components, or Software Updates, the Coronavirus Disease 2019 (COVID-19) Pandemic, or Clinical Trials”; Russia-related GL 54A, “Authorising Certain Transactions Involving VEON Ltd. or VEON Holdings B.V. Prohibited by …
OFAC has issued Venezuela-related General Licence (GL) 31B, “Certain Transactions Involving the IV Venezuelan National Assembly and Certain Other Persons”, which replaces and supersedes GL 31A in its entirety and authorises US persons to engage in all transactions (Notice): Prohibited by Executive Order (E.O.) 13884 and involving the IV Venezuelan National Assembly seated on 5 January 2016, its Delegated Commission, …
OFAC has made new Russia, Iran and Counter-terrorism designations and removed individuals and an aircraft from its Nicaragua & Venezuela sanctions lists. These changes are set out in this Notice & this Notice It also published one Russia FAQ on the petroleum price cap (1109)
Following the Venezuelan government and an opposition coalition’s agreement to implement a humanitarian relief program and continue talks on the 2024 elections, OFAC has issued Venezuela-related General License (GL) 41. The GL authorises transactions ordinarily incident and necessary to certain activities related to the operation and management by Chevron Corporation or its subsidiaries of its joint ventures involving US-listed Venezuelan …
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