On November 13, 2023, the Council of the EU decided to extend Venezuela-related restrictive measures for a period of six months, until May 14, 2024. The restrictive measures, which include an asset freeze, a travel ban, and an embargo on arms and equipment used for internal repression, were extended for six months rather than the standard twelve months in response to the October 17, 2023 political agreement signed by the Maduro regime, which the Council welcomed as a positive step towards the restoration of democracy in Venezuela. The Council also expressed a willingness to ease or reverse these restrictive measures depending on how the situation in Venezuela evolves and how the agreement is implemented, including any progress made towards the unconditional release of individuals that have been unjustly detained in Venezuela, and any changes to Venezuela’s electoral process and judicial institutions that would allow for the freedom of expression, democratic elections, and respect for human and political rights. The Council intends to reassess the scope of these restrictive measures in six months or as soon as it can confirm that “concrete, sustainable and verifiable progress” has been made to improve the situation in Venezuela.
November 15, 2023
EU extends Venezuela-related restrictive measures for six months
Related by Topic
New Post
OFAC issues new basic information FAQ and amends two Cuba-related FAQs
August 28, 2024
News Alert
New Post
U.S. designates nearly 400 individuals and entities in honor of Ukraine’s Independence Day
August 26, 2024
News Alert
New Post
UK government issues updated ownership and control guidance for all sanctions regimes
August 22, 2024
News Alert