Skip to content

OFAC Venezuela-related actions

March 22, 2019

OFAC has posted a notice concerning the designation of Banco de Desarrollo Economico y Social de Venezuela (BANDES), and any entity in which BANDES owns, directly or indirectly, a 50 percent or greater interest, pursuant to Executive Order 13850 as amended by E.O. 13857, for operating in the financial sector of the Venezuelan economy.

In addition, OFAC is amending General License 4 - “Authorizing New Debt Transactions and Transactions involving Certain Banks Related to the Exportation or Reexportation of Agricultural Commodities, Medicine, Medical Devices, or Replacement Parts and Components,” and issuing the following four new Venezuela-related general licenses in connection with this designation: General License 15 - “Authorizing Transactions Involving Certain Banks Prohibited by Executive Order 13850 for Certain Entities,” General License 16 - “Authorizing Maintenance of U.S. Person Accounts and Noncommercial, Personal Remittances involving Certain Banks,” General License 17 - “Authorizing Certain Activities Necessary to Wind Down of Operations or Existing Contracts with Certain Banks,” and General License 18​ - “Authorizing Certain Transactions Involving Integracion Administradora de Fondos de Ahorro Previsional, S.A.”

OFAC also issued two FAQs related to these actions.

The following entities have been added to OFAC's SDN List:

  • BANCO BANDES URUGUAY S.A. (a.k.a. BANDES URUGUAY), Zabala 1338, Montevideo 11000, Uruguay; SWIFT/BIC CFACUYMM; National ID No. 215395820015 (Uruguay) [VENEZUELA-EO13850] (Linked To: BANCO DE DESARROLLO ECONOMICO Y SOCIAL DE VENEZUELA).
  • BANCO BICENTENARIO DEL PUEBLO, DE LA CLASE OBRERA, MUJER Y COMUNIAS, BANCO UNIVERSAL C.A. (f.k.a. BANCO BICENTENARIO BANCO UNIVERSAL C.A.; a.k.a. BANCO BICENTENARIO DEL PUEBLO; a.k.a. BANCO BICENTENARIO DEL PUEBLO, DE LA CLASE OBRERA, MUJER Y COMUNAS, BANCO UNIVERSAL CA), Av Venezuela, Torre Banco Bicentenario, P.P, El Rosal, Caracas, Distrito Capital, Venezuela; SWIFT/BIC CONDVECP; National ID No. G200091487 (Venezuela) [VENEZUELA-EO13850].
  • BANCO DE DESARROLLO ECONOMICO Y SOCIAL DE VENEZUELA (a.k.a. BANCO BANDES; a.k.a. BANDES; f.k.a. FONDO DE INVERSIONES DE VENEZUELA), Av. Universidad, Esq. de Traposos a Colon, P-1, Torre BANDES, CARACAS, DISTRITO FEDERAL 1010, Venezuela; Edificio Fondo de Inversiones de Venezuela Avenida Norte 1, Esquina Colon a Traposos, Caracas, Venezuela; SWIFT/BIC FIVVVECA; National ID No. G200047526 (Venezuela) [VENEZUELA-EO13850].
  • BANCO DE VENEZUELA SA BANCO UNIVERSAL (a.k.a. BANCO DE VENEZUELA; a.k.a. BANCO DE VENEZUELA SA, BANCO UNIVERSAL; f.k.a. BANCO DE VENEZUELA, S.A.; a.k.a. BANCO DE VENEZUELA, S.A.C.A.), Av Universidad Esq. de Sociedad, Torre Banco de Venezuela, Caracas, Distrito Federal, Venezuela; SWIFT/BIC VZLAVECA; National ID No. G200099976 (Venezuela) [VENEZUELA-EO13850] (Linked To: BANCO DE DESARROLLO ECONOMICO Y SOCIAL DE VENEZUELA).
  • BANCO PRODEM S.A. (f.k.a. FONDO FINANCIERO PRIVADO PRODEM S.A.), Calle Belisario Salinas No 520, esquina, Sanchez Lima, La Paz, La Paz, Bolivia; SWIFT/BIC BPRMBOLP; Tax ID No. 1029837028 (Bolivia) [VENEZUELA-EO13850] (Linked To: BANCO DE DESARROLLO ECONOMICO Y SOCIAL DE VENEZUELA).

First published on 03/22/2019

Banker Tools View All

A collection of useful resources for various areas of the bank which have been developed by members of the BankersOnline staff or have been created and contributed by users of the BankersOnline site.

Banker Tools

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search OFAC Updates