FR 2024-28304

The document issued by the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) provides a notification concerning the addition of several Venezuelan individuals to the Specially Designated Nationals and Blocked Persons List, commonly known as the SDN List. This action stems from determinations made by OFAC that these individuals meet the legal criteria under specific U.S. executive orders related to the situation in Venezuela. As a result, any property or interests in property these individuals hold within U.S. jurisdiction are blocked, and U.S. persons are generally prohibited from engaging in any transactions with them.

General Summary

The notice informs the public of sanctions imposed on 21 Venezuelan officials. These sanctions are part of a broader effort by the U.S. to respond to issues regarding the Venezuelan government. By blocking assets and prohibiting transactions, these measures aim to exert pressure on the Venezuelan authorities to instigate changes. The document outlines the identities of the sanctioned individuals, including their names, birth dates, places of birth, and nationalities. The sanctions are implemented under Executive Orders 13692 and 13857, focusing on persons contributing to the situation in Venezuela.

Significant Issues or Concerns

There are several notable issues within the document. Firstly, while it mentions executive orders as the basis for the sanctions, it does not elaborate on the specific legal determinations or actions of these individuals warranting their designation. This lack of detail could limit the understanding of why these individuals are specifically targeted. Additionally, the document provides legal references without context or explanation, which might make it difficult for readers unfamiliar with these orders to grasp the broader implications.

Furthermore, the document does not address potential diplomatic ramifications between the U.S. and Venezuela nor does it consider possible effects on Venezuelan citizens not implicated in the sanctions. These omissions may lead to a narrower understanding of the broader impact of these sanctions.

Impact on the Public Broadly

For the general public, this document highlights the ongoing geopolitical friction between the U.S. and Venezuela. It serves as a reminder of the complexity of international relations and the tools countries use, like economic sanctions, to influence foreign governments. However, its legal jargon and lack of detailed explanations can be challenging for individuals not versed in legal or diplomatic matters.

Impact on Specific Stakeholders

For U.S. businesses and individuals, these sanctions mean they must exercise caution to avoid engaging with the listed individuals, thereby avoiding legal repercussions. The notice implies a stringent compliance demand on U.S. financial institutions and companies dealing with foreign entities.

For Venezuelans, especially those associated with government dealings, it reflects international disapproval, possibly influencing internal politics or affecting the lives of those indirectly connected. However, ordinary Venezuelan citizens might face indirect consequences, like increased economic pressures, although their direct involvement is not indicated in the document.

Overall, the document maintains an air of legal formality while potentially calling for increased scrutiny and reflection on the political dynamics between the involved nations. The absence of detailed insights into the specific actions of the sanctioned individuals and potential future developments may leave stakeholders and the general public seeking further clarification.