OFAC SANCTIONS COMPANIES IN THE VENEZUELAN OIL SECTOR AND TRANSPORTING OIL TO CUBA, PLUS MANY SHIPS

On 5th April, OFAC announced that it had designated 2 companies operating in the oil sector of the Venezuelan economy, and identified 1 vessel, which transported oil from Venezuela to Cuba, as blocked property that is owned by one of these companies.  It also identified 34 vessels as blocked property of Petroleos de Venezuela SA (PdVSA).

https://home.treasury.gov/news/press-releases/sm643

https://www.treasury.gov/resource-center/sanctions/OFAC-Enforcement/Pages/20190405.aspx

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

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