OFAC takes action on Venezuela- and Syria-related general licenses

The Office of Foreign Assets Control of the US Department of the Treasury has amended one Venezuela-related general license and issued a new general license, in addition to revoking two Syria-related general licenses, in connection with the removal of three individuals and two entities from the list of Specially Designated Nationals And Blocked Persons in October 2019.  OFAC also added several names to the SDN list.

General License 34A, “Authorizing Transactions Involving Certain Government of Venezuela Persons,” supersedes and replaces General License 34.  The amended general license permits transactions involving US citizens, permanent resident aliens of the US and aliens who hold valid US immigrant and non-immigrant visas, and some former and current employees and contractors of the government of Venezuela, that would otherwise be prohibited by Executive Order 13884.  G.L.34A does not authorize transactions with blocked persons or transactions that would otherwise violate Executive Orders 13808, 13692, 13857.  It has a reporting component for US persons who unblock property pursuant to the provisions of General License.

General License 35, “Authorizing Certain Administrative Transactions with the Government of Venezuela,” authorizes US persons to pay taxes and duties, and to obtain permits, licenses and public utility services from the government of Venezuela that would otherwise be prohibited by Executive Order 13884, if the transactions are necessary and ordinarily incident to day-to-day operations.  The license does not authorize transactions prohibited by Executive Orders 13850, 13835, 13827, 13808, 13692 or 13857, or transactions with blocked persons other than those described in the general license.  The license entails a reporting requirement for US persons other than US financial institutions.

In connection with the removal of sanctions imposed on two Turkish government ministries and the ministers of Defense, Energy and Natural Resources, and the Interior from the SDN list on October 23, 2019, OFAC also revoked two Syria-related general licenses:  General License 2, “Authorizing Certain Activities Necessary to the Wind Down of Operations or Existing Contracts Involving the Ministry of National Defence or the Ministry of Energy and Natural Resources of the Government of Turkey," and General License 3, “Authorizing Official Activities of Certain International Organizations Involving the Ministry of National Defence or the Ministry of Energy and Natural Resources of the Government of Turkey.”

OFAC press release | G.L.34A | G.L.35 

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