Background

The Office of Foreign Assets Control has designated four entities that operate in the oil sector of the Venezuelan economy pursuant to Executive Order 13850. Additionally, OFAC has identified four vessels that transport oil and other petroleum products from Venezuela to Cuba as blocked property owned or controlled by the four designated entities.

Sanctioned entities will be denied access to the U.S. financial system and a freeze will be placed on these entities’ U.S. assets. The departments of Treasury and State indicate that this action further targets Venezuela’s oil sector and the mechanisms used to transport oil from Venezuela to Cuba.

For more information, please contact export compliance attorney Kristine Pirnia.

Copyright © 2021 Sandler, Travis & Rosenberg, P.A.; WorldTrade Interactive, Inc. All rights reserved.

Practice Areas

ST&R: International Trade Law & Policy

Since 1977, we have set the standard for international trade lawyers and consultants, providing comprehensive and effective customs, import and export services to clients worldwide.

View Our Services 

Close

Cookie Consent

We use cookies on our website. By continuing to use our website, you agree to the Privacy Policy and Terms of Use.