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).

Subscribe for full access

News

AT&T closes DirecTV operations in Venezuela

AT&T has announced that it will terminate its DirecTV operations in Venezuela, following the US government’s decision not to renew a waiver to allow AT&T to continue its relationship with Globovision Corp, a designated Venezuela-based news network. AT&T’s statement says that US sanctions prohibit it from broadcasting channels owned by Globovision and PdVSA, which it is required to broadcast under …

VenezuelaVenezuela

OFAC lifts sanctions on Nynas AB

OFAC has announced that the Swedish refiner Nynas AB is no longer subject to US sanctions pursuant to the Venezuelan Sanctions Regulations (31 CFR Part 591) following a restructuring of the company’s ownership. Nynas’ press release says that PdVSA, Venezuela’s state-owned oil company, has reduced its majority shareholding in Nynas to 15%. The 35% divested by PdVSA is now controlled …

VenezuelaVenezuela

US tightens China, Russia & Venezuela tech exports controls

The US Commerce Dept has announced amendments to technology export controls relating to China, Russia and Venezuela in response to concerns that goods intended for civilian use are being diverted for military applications. Final rules (1) and (2) below, published in the federal register today (28 April 2020) come into effect in 60 days, 26 June 2020. See press release. …

ChinaChina VenezuelaVenezuela RussiaRussia

OFAC amends Venezuela licence to restrict 5 US oil companies’ PdVSA activities

OFAC has issued General Licence 8F, so as to narrow the authorisation for 5 American oil and gas companies, allowing them to conduct only oil-related transactions and activities incident and necessary to the limited maintenance of essential operations and contracts in Venezuela that (i) are for the safety/preservation of assets in Venezuela, (ii) involve PdVSA, or (iii) were in effect …

VenezuelaVenezuela

EU further calls for humanitarian sanctions clarification & relief

The EU’s High Representative for Foreign Affairs, Josep Borrell, has issued a further statement of support for the UN Secretary General and UN Human Rights Commissioner’s calls for the maximum use of humanitarian exceptions in sanctions regime (see post). The remarks say that “many people do not believe that they can engage in humanitarian assistance to Iran or Venezuela without …

IranIran VenezuelaVenezuela

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)