OFAC updated the Venezuela Sanctions Regulations to incorporate relevant Executive Orders issued since the regulations were last updated in 2014.

The updates also incorporate (i) a general license permitting the U.S. Government to continue certain activities related to Venezuela and (ii) an interpretive section clarifying that, unless authorized pursuant to a specific license issued by OFAC, all U.S. persons are prohibited from entering into a settlement agreement or the enforcement of any lien, judgment, arbitral award, decree or other order through execution, garnishment or other judicial process purporting to transfer or otherwise alter or affect property or interests in property blocked.

The update becomes effective upon publication in the Federal Register.