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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).
News
OFAC designates 7 Venezuelan officials for obstructing democracy
OFAC has listed 7 Venezuelan officials under Executive Order 13692 on the basis of their recent actions undermining democratic processes in Venezuela: Jose Brito Rodriguez; Franklyn Leonardo Duarte; Negal Morales Llovera; Jose Noriega Figueroa; Luis Parra Rivero; Conrado Perez Linares; and Adolfo Superlano. Notice here. According to the press release, on 5 January, the officials led a failed attempt to …
Venezuela
EU to start applying targeted measures against Venezuela
The EU’s High Representative, Josep Borrell, has announced that the EU is “ready to start work towards applying targeted measures against individuals” involved in recent acts undermining democracy, rule of law and human rights in Venezuela. The recent acts relate to the use of force against Juan Guiadó, the President of the National Assembly, and other lawmakers to impede their …
OFAC extends Venezuela-related General Licence for 3 weeks
OFAC has issued General Licence 6A, which authorises US persons to engage in specified transactions relating to the wind down of operations or existing agreements with Globovision Tele C.A. or Globovision Tele CA Corp (previous post here). It extends the expiry date of the licence for 3 weeks until 21 January 2020, and replaces and supersedes General Licence 6 in …
3rd countries align with EU renewal of Venezuela sanctions
On 11 November 2019, the EU Council adopted Decision (CFSP) 2019/1893, which renewed for 1 year targeted sanctions against 25 Venezuelan officials, and an embargo on arms and equipment which may be used for internal repression. North Macedonia, Albania, Iceland, Liechtenstein, Ukraine, Moldova, Armenia, and Georgia have aligned themselves with this decision. Press release here.
OFAC publishes 2 Venezuela-related FAQs on legal proceedings & shares
OFAC has published 2 new FAQs relating to Venezuela-related sanctions. FAQ 808 clarifies that a specific licence is not required to initiate or continue legal proceedings against a designated person. FAQ 809 states that parties who have shares in a listed entity must obtain a licence from OFAC prior to conducting an auction or other sale of those shares. OFAC …
Current Sanctions
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: