U.S. Imposes Additional Sanctions on Venezuelan Government

U.S. Imposes Additional Sanctions on Venezuelan Government


By: Michael T. Gershberg, Justin A. Schenck, Avani Uppalapati

On August 5, 2019, President Trump issued Executive Order 13884 (EO) freezing the property and assets of the entire Government of Venezuela, including state-owned companies.  These blocking sanctions follow a string of recent, more targeted sanctions imposed on Venezuela (on which we have previously reported here and here).  The EO is effective immediately and bans all transactions with the Venezuelan government.  The Treasury Department's Office of Foreign Assets Control (OFAC) has issued or amended various general licenses, including those to authorize dealings with representatives of the Guaidó regime and transactions related to PdVSA and Citgo that had previously been authorized.  Accordingly, the immediate effects of this EO may be limited for many U.S. companies that do not deal directly with the Maduro regime.

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