Holland & Knight's Venezuela Focus Team invites you to read our Venezuela Update, in which we discuss the latest news, trends and developments in Venezuela that impact the interests of businesses across all industry sectors. ...more
On April 2 — labeled “Liberation Day” by President Trump — the Trump administration is set to add a new sanctions-like boost to its tariff strategy, with a threat to impose unprecedented “secondary tariffs” of 25% on “all...more
The Trump administration continues to ramp up sanctions on Venezuela and Yemen's Houthis, while sending mixed signals about its intentions with respect to Russia. We provide brief updates on these three areas, following up...more
On April 17, 2024, OFAC formally rolled back the sanctions relief it previously provided to the Venezuelan oil and gas industry. While OFAC provided the initial relief believing that Venezuela would permit a fair and open...more
Control de Activos Extranjeros (“OFAC”) del Departamento del Tesoro de EE.UU. promulgó una serie de licencias generales al gobierno de Venezuela para brindarle un alivio al país de las sanciones económicas. La OFAC promulgó...more
As we discussed previously, the U.S. Department of Treasury’s Office of Foreign Assets Control (“OFAC”) recently provided Venezuela with much needed sanctions relief. Specifically, OFAC issued General License 44 (among...more
The latest action permits transactions with the Venezuelan state oil services company and in the secondary bond market for PDVSA debt, but other OFAC sanctions restrictions remain in place....more
On October 18, 2023, the U.S. Department of Treasury’s Office of Foreign Assets Control (“OFAC”) took several steps to provide Venezuela with some limited relief from its sanctions. The relief includes General Licenses...more
Mexican President Andrés Manuel López Obrador recently announced that Mexico is willing to ship gasoline to Venezuela notwithstanding the threat of US sanctions against such activity. ...more
In a show of support for Venezuelan Interim President Juan Guaidó last week, and in opposition to the Maduro regime, President Trump issued Executive Order 13884, which imposes blocking sanctions on the Government of...more
The Supreme Court of Justice of Venezuela declared last month the constitutionality of Decree 3,844, issued on May 10, 2019, by means of which the government of Nicolás Maduro enacted a State of Exception and Economic...more
In this episode, Akin Gump public law and policy senior advisor and former U.S. Rep. Ileana Ros-Lehtinen and international trade partner Nnedi Ifudu discuss U.S. sanctions on Venezuela. Among the topics covered: • the...more
• OFAC recently added a Moscow-based Russian-Venezuelan joint venture bank, Evrofinance Mosnarbank (“Evrofinance”), to the List of Specially Designated Nationals and Blocked Persons (the “SDN List”) for engaging in sanctions...more
As noted in ”A Shifting Landscape: Recent Developments Raise Questions about Venezuela’s Future,” the United States has moved in recent weeks to increase pressure on embattled Venezuelan President Nicolás Maduro through the...more
On January 28, 2019, the Department of the Treasury's Office of Foreign Assets Control (OFAC) designated Petróleos de Venezuela, S.A. (PdVSA) on the List of Specially Designated Nationals and Blocked Persons (SDN List). PdVSA...more
Venezuela is undergoing a political upheaval. Since his rise to power in 2013, the embattled Venezuelan President Nicolás Maduro has precipitated a humanitarian crisis that has driven some 3 million Venezuelans to flee...more
• Pursuant to Executive Order 13850 (E.O. 13850), the U.S. Department of the Treasury's (Treasury) Office of Foreign Assets Control (OFAC) designated Petroleos de Venezuela, S.A. (PdVSA), effectively blocking PdVSA's property...more
FERC Won't Consider Big Climate Change Effects in Pipeline Reviews - "FERC's three Republican commissioners issued the surprise ruling as part of an otherwise routine decision on a pipeline upgrade proposed by the utility...more
• President Donald Trump has issued a new Executive Order expanding existing sanctions against the government of Venezuela and its instrumentalities, including the state-owned oil company, Petróleos de Venezuela (PdVSA). ...more
Last week, President Donald Trump issued an Executive Order banning “all transactions” and “dealings” by any individual or entity in the United States that involve “any digital currency, digital coin, or digital token” issued...more