The Office of Foreign Assets Control on Aug. 12 again extended a general license that continues to delay an exemption that would authorize certain transactions related to Petroleos de Venezuela, S.A. General License 5P, which replaced GL 5O, now authorizes certain transactions with PdVSA involving an 8.5% bond on or after Nov. 12. The previous license was set to allow those transactions to occur on or after Aug. 13.
The U.S., the U.K. and Canada last week issued new, coordinated sanctions against Belarus, targeting people, companies and entities that are helping Russia evade sanctions and export controls, funding Belarusian oligarchs tied to President Alexander Lukashenko or taking other steps to aid the Russian or Belarusian governments. The sanctions, which were announced days after a similar set of designations imposed by the EU (see 2408050008), were meant to mark the four-year anniversary of the “fraudulent” 2020 presidential election that helped Lukashenko keep power, the countries said in a joint statement.
The Office of Foreign Assets Control this week sanctioned Paraguayan tobacco company Tabacalera del Este S.A. for financially supporting former Paraguayan President Horacio Manuel Cartes Jara, sanctioned by OFAC last year for corruption (see 2301260073). The agency previously added Tabacalera del Este to its Specially Designated Nationals List for being owned by Cartes (see 2303310033), but Cartes has since sold the company, OFAC said, so the agency is now designating it under a 2017 executive order that authorizes Global Magnitsky sanctions for serious human rights abuses and corruption.
The Office of Foreign Assets Control renewed two Russia-related general licenses last week that authorize transactions related to debt, equity or currency-conversion. Both licenses were scheduled to expire Aug. 13 but now expire 12:01 a.m. EDT Oct. 12.
The U.S. is considering “consequences,” including possibly sanctions actions, against Venezuela after the country’s Nicolas Maduro-led regime appeared to alter the results of the country’s presidential elections, senior administration officials said this week.
The U.K. on July 24 renewed a general license authorizing certain transactions with North American subsidiaries of Russian steel company Evraz (see 2205090013). The license was scheduled to expire Sept. 30 but now is extended six month beyond that and expires March 31.
The Office of Foreign Assets Control this week renewed a Russia-related general license that authorizes certain transactions involving the Russian Federation's Central Bank, Wealth Fund and Ministry of Finance. General License No. 13J which replaced 13I, now authorizes those transactions, including taxes, fees, or import duties, through 12:01 a.m. EDT Oct. 9. The license was set to expire July 11.
The U.K. on July 3 issued a general license authorizing certain transactions between sanctioned parties and the National Settlement Depository. The license allows certain designated parties -- except for those subject to Russia-related sanctions -- to "carry out any activity reasonably necessary to sell, divest or transfer" debt and equity securities and financial instruments held by the National Settlement Depository. The Office of Financial Sanctions Implementation said any party conducting a transaction under the license must keep records on those transactions for a minimum of six years. The license runs through Aug. 13.
The Office of Foreign Assets Control this week again renewed a Venezuela-related license that authorizes certain transactions related to exports or reexports of liquefied petroleum gas to Venezuela (see 2107120054 and 2207070032). General License No. 40C, which replaces General License No. 40B, is valid through 12:01 a.m. EDT July 8, 2025. The license was scheduled to expire July 10.
The U.K. issued a general license July 1 authorizing sanctioned parties to make certain payments "owed or due" to "His Majesty's Revenue & Customs; the Welsh Revenue Authority; and Revenue Scotland." The license also allows individuals acting on behalf of sanctioned parties to make these payments. Payment details must be reported to the Office of Financial Sanctions Implementation within 10 working days of the payment being made. The license took effect July 1 and runs indefinitely.