On November 5, 2019, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued two general licenses covering transactions with the government of Venezuela and certain government of Venezuela individuals. In particular, new General License 35 authorizes certain administrative transactions with the government of Venezuela, authorizing U.S. persons to pay taxes, import duties and other basic administrative fees to the government of Venezuela, subject to specific ongoing and mandatory reporting requirements. These transactions would otherwise be prohibited pursuant to Executive Order (EO) 13884 — Blocking Property of the Government of Venezuela, dated August 5, 2019.
OFAC also issued amended General License 34A, which authorizes transactions involving certain government of Venezuela individuals.
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