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Venezuela Sanctions Regulations Issued; More Comprehensive Rules to Come Later

Friday, July 10, 2015
Sandler, Travis & Rosenberg Trade Report

The Treasury Department’s Office of Foreign Assets Control has issued a final rule that, effective July 10, imposes economic sanctions against Venezuela pursuant to the Venezuela Defense of Human Rights and Civil Society Act of 2014 and Executive Order 13692 (Blocking Property and Suspending Entry of Certain Persons Contributing to the Situation in Venezuela). OFAC states that these regulations are being published in abbreviated form at this time to provide immediate guidance to the public and that it intends to supplement them with a more comprehensive set of regulations that may include additional interpretive and definitional guidance and additional general licenses and statements of licensing policy.

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