ARTICLE
18 November 2019

OFAC Updates General Licenses For Venezuela And Turkey

CW
Cadwalader, Wickersham & Taft LLP

Contributor

Cadwalader, established in 1792, serves a diverse client base, including many of the world's leading financial institutions, funds and corporations. With offices in the United States and Europe, Cadwalader offers legal representation in antitrust, banking, corporate finance, corporate governance, executive compensation, financial restructuring, intellectual property, litigation, mergers and acquisitions, private equity, private wealth, real estate, regulation, securitization, structured finance, tax and white collar defense.
OFAC updated several general licenses concerning Venezuela and the Turkish invasion of Syria.
Worldwide International Law
To print this article, all you need is to be registered or login on Mondaq.com.

OFAC updated several general licenses concerning Venezuela and the Turkish invasion of Syria.

With regard to the Government of Venezuela, OFAC:

  • replaced General License No. 34 - authorizing transactions and activities with certain Government of Venezuela individuals - with General License No. 34A to, among other things, permit dealings with health and education providers who are employees or contractors of the Government of Venezuela;

  • issued General License No. 35, which allows U.S. persons to pay taxes, fees and import duties, and purchase or receive permits, licenses, registrations, certifications and public utility services, from the Government of Venezuela in relation to transactions that are necessary and ordinarily incident to U.S. persons' day-to-day operations; and

  • released new and amended FAQs.

OFAC also revoked two General Licenses (see here and here) against Turkish ministries and senior officials, pursuant to Turkey's agreement to pause military operations in northeastern Syria.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy.

Learn More