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

Venezuelan officials charged with US export control violations

The US DOJ has unsealed indictments charging Venezuela’s President Nicolas Maduro and 14 current and former high-ranking officials with narco-terrorism, drug trafficking, money-laundering and corruption offences, “causing tons of cocaine to enter and devastate American communities” in a conspiracy with the Colombian FARC. Among the series of charges, Oscar Rafael Colmenarez Villalobos, a former Venezuelan Air Force Officer, has been …

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Covid-19: UN Human Rights Commissioner calls for easing of sanctions

The UN High Commissioner for Human Rights, Michelle Bachelet, has called for the urgent re-evaluation of sectoral sanctions in countries dealing with the Covid-19 pandemic, alongside broad and practical humanitarian exemptions to sanctions measures, including authorisation for medical equipment and supplies. She said that sanctions may impede medical efforts in Cuba, N Korea, Venezuela, Zimbabwe and Iran, which have vulnerable …

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OFAC sanctions another Rosneft subsidiary & renews General Licences

OFAC has designated TNK Trading International SA (TTI), a Swiss-incorporated subsidiary of Rosneft Oil Company, for operating in the oil sector of the Venezuelan economy pursuant to E.O. 13850 (asset freeze). The Treasury press release says that TTI is involved in the trading, processing, and transport of raw materials in Venezuela, and that TTI purchased nearly 14 million barrels of …

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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 …

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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 …

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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)