Search Results for keywords:"U.S. sanctions"

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Search Results: keywords:"U.S. sanctions"

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  • 2025-00762 — Notice of OFAC Sanctions Action
    Type:Notice
    Citation:90 FR 4002
    Reading Time:about 3 minutes

    The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has added several individuals from Venezuela to its Specially Designated Nationals and Blocked Persons List. These individuals are blocked from having any of their property or interests in property under U.S. jurisdiction accessed, and U.S. citizens are generally forbidden from doing business with them. This action aligns with Executive Orders aimed at addressing the situation in Venezuela, specifically blocking the property of those identified as current or former officials of the Venezuelan government. The changes to the list were made official on January 10, 2025.

    Simple Explanation

    The U.S. Treasury made a list of people from Venezuela who are not allowed to have their things in America or do business there, because the government thinks they did bad things as part of the Venezuelan government. This is like getting time-out for their actions, and Americans can't play with them while they are in time-out.

  • 2024-29991 — Publication of Venezuela Sanctions Regulations Web General Licenses 5Q and 8O
    Type:Rule
    Citation:89 FR 103651
    Reading Time:about 6 minutes

    The Office of Foreign Assets Control (OFAC) under the Department of the Treasury has published two general licenses related to the Venezuela Sanctions Regulations. These licenses, GL 5Q and GL 8O, permit certain financial transactions involving Petróleos de Venezuela, S.A. (PdVSA) and transactions necessary for the maintenance and wind-down of essential operations in Venezuela. They replace previous general licenses and set specific conditions and exceptions, such as prohibiting the drilling or selling of Venezuelan petroleum. These updates became effective on November 7, 2024.

    Simple Explanation

    The U.S. Office of Foreign Assets Control (part of the Treasury Department) has made new rules that let certain businesses do some money things with a big oil company in Venezuela, but they can't do things like digging for more oil. These rules started working on November 7, 2024.