New OFAC License Narrows Scope of Authorized Transactions With Venezuelan Airline
An updated general license issued last week by the Office of Foreign Assets Control (see 2402290080) narrowed the scope of transactions that were previously authorized with Consorcio Venezolano de Industrias Aeronauticas y Servicios Aereos, S.A., Venezuela’s flagship airline, the agency said in March 1 guidance.
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OFAC said new General License 45B no longer authorizes transactions “ordinarily incident and necessary to non-commercial flights” between non-U.S. jurisdictions in the Western Hemisphere and Venezuela if they aren’t “exclusively for the purposes of repatriation.” OFAC said those noncommercial flights include not-for-profit flights that aren’t “intended to generate a profit” for the Venezuelan airline Conviasa.
The agency also said it removed language from the license that allowed for the maintenance and repair of certain aircraft listed in the annex of the license's previous version, General License 45A. The updated license now authorizes only “general maintenance to the aircraft being used for repatriation flights.”
OFAC amended two other frequently asked questions to reflect the changes made to the license.