Treasury announces block on Venezuela government assets

The Treasury Department announced Tuesday that the president has issued a new Executive Order (E.O.), “Blocking Property of the Government of Venezuela.” In connection with the issuance of this E.O., OFAC issued new and revised FAQs as well as 12 amended general licenses (General Licenses 2A, 3F, 4C, 7C, 8C, 9E, 10A, 13C, 15B, 16B, 18A, 20A) and 13 new general licenses (General Licenses 21 through 33).

In addition, OFAC published “Guidance Related to the Provision of Humanitarian Assistance and Support to the Venezuelan People.” In a press release, Treasury emphasized the U.S. commitment to the unfettered flow of humanitarian aid to the Venezuelan people, and cited the general licenses that permit humanitarian-related transactions, enabling continued support to the people of Venezuela and ensuring that legitimate humanitarian activity is not the target of U.S. sanctions. OFAC's regulations and general licenses allow U.S. persons to continue to provide humanitarian support to the Venezuelan people, including transactions through the U.S. financial system for certain authorized activity related to food, agricultural commodities, medicine, and medical devices; non-commercial, personal remittances; international organizations; telecommunications and mail; the Internet; medical services; and nongovernmental organizations.