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OFAC amends Venezuela General License 6

Earlier today, OFAC issued an amended version of Venezuela General License 6 “Authorizing Certain Activities Necessary to the Wind Down of Operations or Existing Contracts with Globovision Tele C.A. or Globovision Tele CA, Corp.”. The only obvious substantive change is that it has been extended for 2 weeks, until January […]

December 18, 2019: Well, that was quick…

On Wednesday, OFAC removed the following entities from the Global Magnitsky sanctions program: VENTSPILS FREEPORT AUTHORITY (a.k.a. FREEPORT OF VENTSPILS; a.k.a. FREEPORT OF VENTSPILS AUTHORITY; a.k.a. VENTSPILS FREE PORT; a.k.a. VENTSPILS FREEPORT), Jana 19, Ventspils LV-3601, Latvia [GLOMAG] (Linked To: LEMBERGS, Aivars).    FREEPORT OF VENTSPILS AUTHORITY (a.k.a. FREEPORT OF […]

Oops… OFAC changes also made to Venezuela FAQs

Sorry about this – about those OFAC changes to the Venezuela program I just posted? Well, OFAC also issued a new Frequently Asked Question (FAQ): 803. What types of activity does General License 35 authorize?  U.S. persons are authorized to engage in certain administrative transactions with the Government of Venezuela that are prohibited […]

OFAC changes to Venezuela & Syria General Licenses, and some new Venezuela SDNs

Today, OFAC added the following persons: BLANCO HURTADO, Nestor Neptali, Miranda, Venezuela; DOB 26 Sep 1982; nationality Venezuela; Gender Male; Cedula No. 15222057 (Venezuela) (individual) [VENEZUELA-EO13884].  CALDERON CHIRINOS, Carlos Alberto, Maracaibo, Zulia, Venezuela; DOB 03 Jul 1970; Gender Male; Cedula No. 10352300 (Venezuela) (individual) [VENEZUELA-EO13884].  CARRENO ESCOBAR, Pedro Miguel, Delta […]

October 24, 2019: OFAC amends Venezuela General License 5

On Thursday, OFAC updated General License 5 (now 5A) for the Venezuela program, making the authorization for these transactions regarding the PdVSA 8.5% 2020 bond only effective starting in mid-January. They also amended FAQ 595 to explain: 595. What does Venezuela-related General License 5A authorize? The President issued Executive Order (E.O.) 13835 on May 21, […]