OFAC Amends Venezuela Sanctions Regulations
The Treasury’s Office of Foreign Assets Control is amending the Venezuela Sanctions Regulations by adding recent Venezuela-related executive orders, a recent general license and an “interpretive provision,” OFAC said in a Nov. 22 notice. OFAC is adding a general license…
Sign up for a free preview to unlock the rest of this article
If your job depends on informed compliance, you need International Trade Today. Delivered every business day and available any time online, only International Trade Today helps you stay current on the increasingly complex international trade regulatory environment.
“previously posted only on OFAC’s website” that authorizes certain U.S. government activities in Venezuela. The interpretive provision, which involves settlement agreements and enforcements of liens, judgments or “other orders through” the “judicial process,” clarified that the “entry into a settlement agreement … is prohibited unless authorized pursuant to a specific license issued by OFAC.”