May 21, 2018: President Trump closes the vise on Venezuela

On Monday, OFAC announced that President Trump had issued a new Executive Order imposing new sanctions on Venezuela. Here’s the operative part announcing the new prohibitions:

Section 1.  (a)  All transactions related to, provision of financing for, and other dealings in the following by a United States person or within the United States are prohibited:

(i)    the purchase of any debt owed to the Government of Venezuela, including accounts receivable;

(ii)   any debt owed to the Government of Venezuela that is pledged as collateral after the effective date of this order, including accounts receivable; and

(iii)  the sale, transfer, assignment, or pledging as collateral by the Government of Venezuela of any equity interest in any entity in which the Government of Venezuela has a 50 percent or greater ownership interest.

So…. short term is now prohibited. What is going to happen to General License 3? Anything?

Once this gets numbered, Mr. Watchlist will add it to the appropriate resource page on the site.

Links:

OFAC Notice

May 21, 2018 Executive Order

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