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

Rosneft to continue Venezuela-related transactions despite sanctions

In light of recent US sanctions imposed against Rosneft Trading, a Rosneft subsidiary (see post), the company has said that it will continue to carry out its work in Venezuela within the framework of contracts signed before the sanctions were imposed. See statement. Rosneft’s VP of commerce and logistics said that the company’s transactions with Venezuela, involving 5 oil and …

VenezuelaVenezuela

Venezuela’s application to annul EU arms embargo inadmissible

The EU General Court has declared inadmissible the Bolivarian Republic of Venezuela’s application to annul the EU arms embargo imposed by Council Regulation (EU) 2017/2063, Case T-65/18 (20 September 2019). The Court held that the republic did not have locus standi because it is not “directly concerned” by the contested measures, which impose a prohibition on EU natural/legal persons engaging …

VenezuelaVenezuela

OFAC sanctions Venezuela state airline & its fleet

OFAC has designated Venezuela state-owned airline Consorcio Venezolano de Industrias Aeronauticas y Servicios Aereos, S.A. (CONVIASA) pursuant to Executive Order (E.O.) 13884 on the basis that the airline has transported government officials to countries such as N Korea, Cuba and Iran “to fuel support for […] anti-democratic efforts”. CONVIASA’s fleet, comprising 40 aircraft, has also been identified as blocked property. …

VenezuelaVenezuela

Venezuela’s Juan Guaidó appeals to EU for further Venezuela sanctions

In meetings with European leaders this week, Venezuela’s opposition leader, Juan Guaidó, has appealed to the EU for tighter sanctions against Venezuela, saying that “support [is needed] to pressure the dictatorship” in this time of “humanitarian crisis”. Mr Guaidó has specifically called for measures targeting gold mining and trading in Venezuela, said to be providing revenue for the Maduro regime …

VenezuelaVenezuela

OFAC adds 15 aircraft to Venezuela sanctions & issues General Licence

OFAC has identified 15 aircraft as blocked property of Petroleos de Venezuela, S.A. (PdVSA) pursuant to Executive Order 13884 on the basis that the aircraft have transported senior members of the Maduro regime to meetings abroad. See OFAC Notice for full list and press release. OFAC has also issued General Licence 20B, which authorises official activities of certain international organisations …

VenezuelaVenezuela

Current Sanctions

EU UK

Consolidated

Council Regulation (EU) 2017/2063

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) 2019/1169

Council Implementing Regulation (EU) 2018/1653

Council Regulation (EU) 2019/1889

Consolidated

Council Decision (CFSP) 2017/2074

Parent Decision

Council Decision (CFSP) 2017/2074

Amended by:

Council Decision (CFSP) 2018/90

Council Decision (CFSP) 2018/901

Council Decision (CFSP) 2018/1656

Council Decision (CFSP) 2019/1171

Council Decision (CFSP) 2019/1893

The Export Control (Venezuela Sanctions) Order 2018 (SI 2018/108)