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Arent Fox LLP | USA, Venezuela | 30 Aug 2019

Not a full-on embargo, but decision to freeze government assets makes trade with Venezuela tricky

President Trump recently signed an executive order, freezing all assets in which the Venezuelan government has an interest that are in US hands and prohibiting US persons from conducting transactions with the Venezuelan government, unless specifically exempted or authorised. Although this is not an embargo on all trade with Venezuela, the executive order goes substantially further than the......
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Arent Fox LLP | USA, Venezuela | 8 Feb 2019

OFAC sanctions Venezuelan state-owned oil giant PDVSA

In a strike against Nicolás Maduro and his supporters, the Trump administration recently announced a new executive order. Pursuant to Executive Order 13850, US persons are now broadly prohibited from engaging in transactions with Petróleos de Venezuela, SA (PDVSA), including its majority-owned subsidiaries. However, the Office of Foreign Assets Control has rolled out a slew of general......
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