Mr. Watchlist emailed OFAC about whether or not they were going to revoke Venezuela General License 3. And their first response was pretty vanilla – pointing me to the Venezuela sanctions and Recent Actions pages.
But I was persistent – I wrote back:
So, the Executive Order, therefore, really just shuts off short-term debt, if you are leaving General License 3 in place. So, it’s not an oversight?
And I got back the Best. OFAC. Response. Ever.
There may be updates with clarification(s). At this time, no additional public information can be provided. My apologies. Thank you.
Wow – is it possible that Treasury didn’t even consider what the interplay between the new E.O. and General License 3 should be?
And that response tells me we’re either getting an FAQ on this – or we will see the General License get revoked. Maybe even replaced with a wind-down period…