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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.
Following the Venezuelan government and an opposition coalition’s agreement to implement a humanitarian relief program and continue talks on the 2024 elections, OFAC has issued Venezuela-related General License (GL) 41. The GL authorises transactions ordinarily incident and necessary to certain activities related to the operation and management by Chevron Corporation or its subsidiaries of its joint ventures involving US-listed Venezuelan …
Yesterday, EU Council extended till 14 November 2023 its restrictive measures in relation to Venezuela due to their ongoing political, economic, social and humanitarian crisis and satiation with the rule of law and human rights. (Council Decision (CFSP) 2022/2201 & Council Implementing Regulation (EU) 2022/2194
In October, OFAC issued of a Finding of Violation to Puerto Rico-based Nodus International Bank, Inc. for violations of US sanctions on Venezuela and the Reporting, Penalties and Procedures Regulations. Nodus voluntarily self-disclosed 3 unlicensed transactions totalling $50,271.29, including the redemption of a US-sanctioned person’s securities and an automatic debit from the listed person’s account. It had also failed to …
An indictment charging 7 people in connection with a sanctions evasion and money laundering scheme was unsealed in US federal court on Wednesday (19 October 2022). Those charged include Russian nationals Yury Orekhov, Artem Uss, Svetlana Kuzurgasheva (also known as Lana Neumann), Timofey Telegin and Sergey Tulyakov and oil traders Juan Fernando Serrano Ponce (also known as Juanfe Serrano) and …
On Tuesday (2 August 2022), Venezuela-based cargo airline Empresa de Transporte Aéreocargo del Sur, S.A. (Emtrasur) was issued with a Temporary Denial Order (TDO) denying its export privileges for 180 days over alleged breaches of US export controls and a TDO against Iranian airline Mahan Air. It is alleged that in October 2021, Mahan Air transferred custody and control of a …
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Venezuela
Russia
China
Iran