On 7 November 2014, the U.S. Department of Commerce, Bureau of Industry and Security (“BIS”) added Venezuela to its list of sanctioned countries under section 744.21 of the Export Administration Regulations. Section 744.21 imposes licence requirements on the export, re-export and transfer of specific products (as set out in Supplement 2 to the same) to or within Venezuela, where they are intended for a military end-use or end-user. This change is in addition to the existing arms embargo against Venezuela for its alleged failure to cooperate in counterterrorism efforts.
The list of countries sanctioned under section 744.21 now includes Venezuela, Russia and the People’s Republic of China.
The update by the BIS can be viewed here.