Last Wednesday, Her Majesty’s Treasury announced that EU sanctions on Venezuela had come into force that day. They also issued the following notice:
1. On 13 November 2017, the Council adopted Council Regulation (EU) 2017/2063, providing for, inter alia, a ban on the export of arms and equipment which might be used for internal repression, a ban on the export of surveillance equipment and the freezing of funds and economic resources of certain persons, entities and bodies responsible for serious human rights violations or abuses or the repression of civil society and democratic opposition and persons, entities and bodies whose actions, policies or activities otherwise undermine democracy or the rule of law in Venezuela, as well as persons, entities and bodies associated with them. These individuals and entities are identified as meeting the criteria set out in Article 8(3) of the EU Regulation. The individuals and entities subject to an asset freeze are included in Annex IV and Annex V of the EU Regulation.
2. At the date of this Notice, no individuals or entities have been included in Annex IV or Annex V of the EU Regulation.
What you must do
3. No further action is required at this time.