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OFAC targets companies in Venezuela oil trade

On Tuesday, the Treasury Department reported that OFAC designated four companies and four crude oil tankers for operating in the oil sector of the Venezuelan economy.

As a result of Tuesday’s action, all property and interests in property of these entities that are in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC. In addition, any entities that are owned, directly or indirectly, 50 percent or more by the designated entities are also blocked. For identity information on the designated entities and vessels, see BankersOnline's OFAC Update.

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