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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.
OFAC has removed the Vietnam Gas and Chemicals Transportation Corporation and Vo Ngoc Phung from its Iran sanctions list. Both were designated in December 2018 for engaging in transactions for the transport of petroleum products from Iran (previous post). Notice. OFAC has also removed Carlos Erik Malpica Flores from its Venezuela sanctions list. Mr Malpica Flores is the nephew of …
OFAC has announced that Puerto Rican bank Banco Popular de Puerto Rico (BPPR) has agreed to pay $255,937.86 to settle its potential civil liability for 337 apparent violations of US sanctions on Venezuela. The apparent violations arose from BPRP’s maintenance of 4 personal accounts operated by 2 Venezuelan government employees for 14 months after the issuance of Executive Order 13884. …
US The US has renewed multiple sanctions regimes by extending for 1 year the national emergencies declared in: Executive Order (E.O.) 13959, “Addressing the Threat from Securities Investments that Finance Certain Companies of the People’s Republic of China”, as amended by E.O. 14032. Previous post & post. Letter & Notice. O. 12170, “Blocking Iranian Government Property”. Notice. O. 13851, “Blocking …
On 24 November 2021, OFAC issued Venezuela General Licence (GL) 8I, “Authorising Transactions Involving Petróleos de Venezuela, S.A. (PdVSA) Necessary for the Limited Maintenance of Essential Operations in Venezuela or the Wind Down of Operations in Venezuela for Certain Entities”. GL 8I replaces and supersedes GL 8H in its entirety and extends the expiry of the GL to 1 June …
In a letter to the CEO of Portuguese bank Novo Banco, a coalition of Members of the European Parliament (MEPs) and Irish politicians has urged the bank to release a payment from the Venezuelan Economic and Social Development Bank (BANDES) to the Pan American Health Organisation for syringes and vaccines for children. Novo Banco is reported to have declined to …
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