OFAC FAQ (Current) # 508 - Venezuela Sanctions - Executive Order 13808 of August 24, 2017

Date issued: Aug. 06 2019

You've hit a wall. Sign in if you have an account, or learn more about TURBOFAC and subscription options.
TURBOFAC is a module of the compliance platform OverRuled. To learn more about OverRuled, visit www.overruled.com.

TURBOFAC Commentary (425 words)

Notes:

1) This FAQ was originally issued to outline EO 13808, and was amended to reflect the blocking of the Government of Venezuela (GOV). As OFAC notes in the first paragraph, EO 13808 prevents “transactions related to” and “other dealings in” certain debt, equity and other assets, but the EO does not, on its face, require the blocking of such assets.

OFAC notes the overlapping scope of EO 13808 and other Venezuela-related authorities. This is a straightforward application of the general principle that individual loose-leaf GLs only modify prohibitions of authorities pursuant to which they are issued (as generally evidenced by the heading of the GL).

It would appear that, by necessity, every single type of asset within the scope of any of the EO 13808 prohibition would constitute “property” in...