OFAC FAQ (Current) # 505 - Venezuela Sanctions - Executive Order 13692 of March 9, 2015

Date issued: Jul. 19 2018

Last substantive commentary amendment:
Dec. 08 2023

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TURBOFAC Commentary (506 words)

Notes:

*Note: this FAQ and comments thereto were posted/written prior to the blocking of the Government of Venezuela pursuant to EO 13884. Neither the FAQ nor the comment have been updated in light of that development.

1) Refer generally to comments to FAQ 400, presenting the substance of this FAQ in a cross-programmatic context, and the General Note and Associated Scenario Matrix re: the Legal Status of Discussions, Negotiations, Contracts and other Pre-transactional Activities (System Ed. Note).

2) Note OFAC's explicit acknowledgement that some negotiations with SDN individuals are exempt (depending on the nature of the transactions). This does not appear in the prior FAQs addressing the issue of dealings with designed key persons operating in non-sanctioned entities.

3) Compare the now-removed Burma FAQ 285,...