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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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OFAC amends 3 Venezuela-related General Licences and issues FAQ
OFAC has issued 3 amended Venezuela-related general licences: General Licence 7B, General Licence 8a and General Licence 13a which replace and supersede General Licences 7A, 8 and 13, respectively. The amendments were made “to clarify these general licenses do not authorize transactions or dealings related to the exportation or reexportation of diluents, directly or indirectly, […]
Venezuela
US designates 2 entities and 2 vessels in Venezuelan oil sector
OFAC’s 4 designations last week (10 May 2019) target two companies that operate in the oil sector of the Venezuelan economy and have moved oil to Cuba. The sanctions constitute “a direct response to SEBIN’s illegal arrest of National Assembly members”. Monsoon Navigation Corporation and its vessel Ocean Elegance, and Serenity Maritime Limited and its […]
US lifts sanctions on Venezuelan official
OFAC has delisted Cristopher Figuera, the former Director General of Venezuela’s National Intelligence Service (SEBIN), because, last week, he “broke ranks with the Maduro regime and rallied to the support of the Venezuelan constitution and the National Assembly”. The US Department of State has said sanctions may be removed where designated individuals “refuse to take […]
OFAC designates Venezuelan Minister for Foreign Affairs and judge
OFAC has imposed asset freezing measures and a travel ban on two individuals determined to be current or former officials of the Venezuelan government: Jorge Alberto Arreaza Montserrat, the Venezuelan Minister for Foreign Affairs, and Carol Bealexis Padilla de Arretureta, the judge in charge of the First Special Court of First Instance in Control Functions, […]
OFAC designates Venezuelan Central Bank and issues general licences
OFAC has designated Banco Central de Venezuela, the central bank of Venezuela, pursuant to Executive Order (E.O.) 13850, as amended, for operating in the financial sector of the Venezuelan economy. One of the bank’s directors, Iliana Josefa Ruzza Terán was also designated, pursuant to E.O. 13692, for being a current or former official of the […]
Current Sanctions
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) 2018/1653
Parent Decision
Council Decision (CFSP) 2017/2074
Amended by: