US Issues Guidance on Upcoming Expiration of Venezeula Sanctions Relief

1. The U.S. issued a new set of frequently asked questions last week to provide guidance on its Jan. 30 decision to reimpose certain sanctions against Venezuela after it found the Nicolas Maduro-led regime has failed to take steps to hold free and fair elections (see 2401300014). The new FAQs outline how and when those sanctions relief measures will be revoked and what transactions will be prohibited. The document, issued by the Office of Foreign Assets Control, said the U.S. may decide to keep the sanctions relief in place “only if the representatives of Maduro follow through with their commitments and take continued concrete steps toward a democratic election by the end of 2024.”