Key Insights: U.S. Export Controls and Sanctions on Venezuela

EAR, Export Controls, ITAR, Venezuela

When considering Venezuela in the context of U.S. export controls and sanctions, it’s essential to grasp the fundamental aspects, such as the specific sanctions in place and Venezuela’s status under the International Traffic in Arms Regulation (ITAR) and...

OFAC Implements Broad Sanctions Against Venezuela

OFAC, Sanctions, Venezuela

By: Michael Volkov, Esq., Volkov Law Group, mvolkov@volkovlaw.com, 240-505-1992 In a major announcement and escalation of the sanctions regime targeting President Maduro and Venezuela, on August 5, 2019, the Trump Administration issued a new Executive Order 13884...

Executive Order Issued “Blocking Property of the Government of Venezuela”

Denied & Restricted Parties, OFAC, Sanctions, Venezuela

On August 5, 2019, President Trump signed an Executive Order “Blocking Property of the Government of Venezuela.” This order will block all property and interests in property of the Government of Venezuela within the jurisdiction of the US. This order also authorizes...

BIS Moves Venezuela from Country Group B to D:1

BIS, Commerce Dept, Export License, Licensing, Press release, Venezuela

On May 24, 2019 the Bureau of Industry and Security (BIS) published a final rule which moved Venezuela from Country Group B to Country Group D:1. This change from favorable to less favorable treatment related to exports was made due to national security concerns after...

OFAC Extends Expiration Date of General Licenses Related to GAZ Group

OFAC, Venezuela

On June 26, 2019 the Department of Treasury’s Office of Foreign Assets Control (OFAC) amended Venezuela-related General License 13A to October 25, 2019. In addition, General License No. 15F includes a new authorization for certain safety-related activity. Release:...

President Posts Executive Order Prohibiting Certain Additional Transactions with Respect to Venezuela

Embargoes, Venezuela

(Source: The White House) President Trump posted an executive order on May 21, 2018 with the purpose of taking further steps in regard to the national emergency declared in Executive Order 13692 of March 8, 2015 and relied upon for additional steps taken in Executive...