OFAC Removes Venezuela-Related Sanctions, Revokes General License
The Office of Foreign Assets Control July 2 removed sanctions from eight companies and vessels that had been sanctioned for operating in Venezuela's oil sector. The agency also revoked a general license that authorized certain transactions with two of the shipping companies, Marshall Islands-based Delos Voyager Shipping and its Delos Voyager and the Greece-based Romina Maritime and its Euroforce (see 2006180044). OFAC also removed designations from the Delos Voyager and Euroforce, along with the Marshall Islands-flagged vessel Voyager I, Marshall Islands-based Sanibel Shiptrade Ltd. and Adamant Maritime Ltd., and the Bahamas-flagged vessel Seahero, which were sanctioned June 2 (see 2006020024).
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OFAC removed the sanctions because the companies and vessels “credibly showed that they have stopped engaging in sanctionable activities,” a Treasury Department spokesperson said. The companies also committed to improve their sanctions compliance programs and “pledged to cease involvement in the oil sector of the Venezuelan economy so long as the Maduro regime remains in power,” the spokesperson said.