OFAC added the following entity:
CEIEC (Chinese Simplified: 中国电子进出口总公司) (a.k.a. CHINA NATIONAL ELECTRONIC IMPORT-EXPORT COMPANY; a.k.a. CHINA NATIONAL ELECTRONICS IMPORT AND EXPORT CORPORATION), Block A 6-23F, No. 17 Fuxing Road, Haidian District, Beijing 100036, China; Calle Orinoco, Torre Nordic, Piso 6, Las Mercedes, Caracas 1060, Venezuela; Website https://www.ceiec.com; Registration Number 16382287 (China); Unified Social Credit Code (USCC) 9111000010000106X1 (China) [VENEZUELA].
to its Venezuela-related sanctions program. It also issued General License 38, which authorizes wind-down transactions with the firm, expiring 12:01 AM on January 14th. Lastly, it issued the following Frequently-Asked Question (FAQ):
854. What does General License 38 authorize?
On November 30, 2020, OFAC designated CEIEC pursuant to Executive Order (E.O.) 13692 for its role in undermining democracy in Venezuela. Concurrent with this action, OFAC issued Venezuela General License (GL) 38 (“Authorizing the Wind Down of Transactions Involving CEIEC”). GL 38 authorizes U.S. persons to engage in all transactions and activities prohibited by E.O. 13692 that are ordinarily incident and necessary to the wind down of transactions and activities involving CEIEC, or any entity in which CEIEC owns, directly or indirectly, a 50 percent or greater interest (collectively, Blocked CEIEC Entities), through 12:01 a.m. eastern standard time, January 14 , 2021.
After the expiration of this authorization, unless exempt or authorized by OFAC, U.S. persons will be prohibited from engaging in transactions with the Blocked CEIEC Entities, and must block property or interests in property of such entities that are in, or come within, the United States, or the possession or control of a U.S. person.
Non-U.S. persons may wind down transactions and activities with the Blocked CEIEC Entities without exposure to sanctions under E.O. 13692, provided that such wind-down activity is: (i) consistent with GL 38; and (ii) completed prior to 12:01 a.m. eastern standard time, January 14, 2021. Entering into new business involving the Blocked CEIEC Entities will not be considered wind-down activity. Non-U.S. persons unable to wind down activities with the Blocked CEIEC Entities before 12:01 a.m. eastern standard time, January 14, 2021, may seek guidance from OFAC.
And State issued a press release: