NEW US EXECUTIVE ORDER PROHIBITS CERTAIN TRANSACTIONS WITH VENEZUELA

On 21^st May, the US Treasury advised that President Trump has signed a new Executive Order which prohibits certain transactions with Venezuela.  The transactions affected included dealings such as –

• the purchase of any debt owed to the Government of Venezuela (including accounts receivable);
• in any debt owed to the Government of Venezuela that is pledged as collateral after the effective date of this order (including accounts receivable);
• in the sale, transfer, assignment or pledging as collateral by the Government of Venezuela of any equity interest in any entity in which the Government has a holding of 50% or more

https://www.treasury.gov/resource-center/sanctions/Programs/Documents/venezuela_eo_20180521.pdf

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section View all posts by raytodd2017