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).

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News

OFAC extends Venezuela General Licence authorising certain transactions with Nynas AB

OFAC has issued General Licence 13D which extends the expiry date of the licence to 14 April 2020, and replaces and supersedes 13C in its entirety. The licence authorises certain activities and transactions with Nynas AB (a jointly-owned Finnish and Venezuelan (PdVSA) company) and any of its subsidiaries which would normally be prohibited by E.O. […]

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Adobe deactivates accounts in Venezuela to comply with US sanctions

Adobe will close all its accounts in Venezuela by 28 October in order to comply with US sanctions under Executive Order 13884 (“Blocking Property of the Government of Venezuela”). As a result, users will no longer have access to Adobe software, such as Photoshop and Acrobat Reader. Adobe has stated via its help page that […]

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OFAC issues 2 amended Venezuela-related general licences

OFAC has issued General Licence 3G, “authorising transactions related to, provision of financing for, and other dealings in certain bonds”, and General Licence 9F, “authorising transactions related to dealings in certain securities”, which replace and supersede 3F and 9E, respectively. The expiry date of the licences has been extended until 31 March 2020. OFAC Notice.

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EU lists 7 members of Venezuelan security & intelligence forces

The EU has imposed sanctions on 7 members of the Venezuelan security and intelligence forces involved in “torture and other serious human rights violations”, repression “including against members of the National Assembly”, and “the dismantlement of institutional checks and balances”. This follows the UN High Commissioner for Human Rights’ criticisms (report, 5 July 2019) of […]

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US imposes travel ban on senior officials of Iran & Venezuela governments

The White House has issued 2 proclamations which suspend the entry to the US of senior officials of the Government of Iran and Venezuela, pursuant to sections 212(f) and 215(a) of the Immigration and Nationality Act (INA) (8 U.S.C. 1182(f) and 1185(a)). Their immediate family members are now also subject to a travel ban. The […]

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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) 2019/1169

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

Council Decision (CFSP) 2019/1171

Venezuela (Sanctions) (EU Exit) Regulations 2019

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