OFAC ADDS CUBAN COMPANY TO VENEZUELA SANCTIONS LISTS

On 26th November, OFAC announced that CORPORACION PANAMERICANA SA of Havana had been added to the Venezuelan sanctions lists.  It is designated for being owned or controlled by, or having acted for or on behalf of, Cubametales, which was designated in July for operating in the oil sector of the Venezuelan economy.  The US Treasury says that Cubametales, the Cuban state-run oil import and export company, has faced significant pressure as businesses refuse to conduct business with them as a result of its designation, and Corporacion Panamericana S.A. replaced Cubametales in various energy deals and international commercial dealings with several countries.

https://www.treasury.gov/resource-center/sanctions/OFAC-Enforcement/Pages/20191126.aspx

https://home.treasury.gov/news/press-releases/sm837

This blog is primarily for my own use, to keep informed and up to date. However, if you would like to say thank you (and perhaps help me get a new, better laptop when I am away…) you can “buy me a coffee” at https://www.buymeacoffee.com/KoIvM842y

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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