OFAC FAQ (Current) # 653 - Executive Order 13850 "Blocking Property of Additional Persons Contributing to the Situation in Venezuela"

Ed. Note: if you’re new to TURBOFAC, please take note that the text string filtration function generally shouldn’t be used for terms such as “ordinarily resident,” “causing” or “new debt”. For research on the meaning of words and phrases such as those, i.e. terms central to the key legal issues in sanctions law that appear on a cross-programmatic basis, you’re typically better off locating and checking the appropriate box in the “Key Legal Issues” search category, which will limit the results to those that have been manually assessed as being relevant for the interpretation of the terms at issue.

Try typing your search term (“ordinarily resident,” “new debt,” or something else) in the “Find a Search Filter” box at the top of the page, and the corresponding “Key Legal Issues” check box will pop up instantly, if one exists. Once you check the box (e.g. “new debt,” with ~55 results), you can always use the text string filtration function to further refine your search (e.g. by typing “invoice” and narrowing the ~55 results to ~10).

Note in addition that the same applies to text string searches such as “14071” (if you’re looking for items related to EO 14071). By typing “14071” in the “Find a Search Filter” field up top, you will be able to instantly narrow the results down to items manually assessed as relating to EO 14071. Ditto terms such as “515.204” or “Iran General License G” (try the “Discrete Legal Provision” search category). Please contact [email protected] or [email protected] with any questions on search results and efficiency.

Please click "Apply Text String Filters" again after clicking the "Close" button immediately below.

TURBOFAC Commentary (1119 words)

Notes:

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

1) This FAQ is ostensibly about Venezuela, but with obvious cross-programmatic application for all programs operating within the rubric of standard blocking language.

First note that, unlike substantively related FAQ 524, this FAQ is issued in connection with EO 13850, a standard blocking executive order.

In FAQ 524, OFAC stated, in a roundabout way, that engaging in derivatives transactions, including credit default swaps, related to a reference bond subject to the prohibitions of EO 13808 is prohibited unless generally licensed. That FAQ did not necessarily say anything about the relationship between derivatives and standard blocking language, however,...

Welcome!

Welcome!

OFAC FAQ (Current) # 653 - Executive Order 13850 "Blocking Property of Additional Persons Contributing to the Situation in Venezuela"

TURBOFAC Commentary (1119 words)