OFAC SANCTIONS VENEZUELA’S MILITARY COUNTERINTELLIGENCE AGENCY (DGCIM)

On 11^th July, OFAC designated the Government of Venezuela’s General Directorate of Military Counterintelligence, or La Dirección General de Contrainteligencia Militar (DGCIM) for operating in Venezuela’s defence and security sector.  As a result, all property and interests in property of this entity, and of any entities that are owned, directly or indirectly, 50% or more by this entity, that are in the US or in the possession or control of US persons are blocked and must be reported to OFAC.   OFAC’s regulations generally prohibit all dealings by US persons or within (or transiting) the US that involve any property or interests in property of blocked or designated persons.

https://home.treasury.gov/news/press-releases/sm727

https://www.treasury.gov/resource-center/sanctions/OFAC-Enforcement/Pages/20190711.aspx

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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