OFAC FAQ (Current) # 672 - Executive Order 13857 of January 25, 2019 “Taking Additional Steps to Address the National Emergency with Respect to Venezuela”.

Date issued: Jun. 06 2019

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TURBOFAC Commentary (2233 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.

From a legal basis perspective, this FAQ is extremely confusing. Intentionally so, it seems.

In the first paragraph, in response to the question "[c]an I export or reexport diluents to Venezuela," OFAC says "no," without qualification, intimating that such exports are outright prohibited. OFAC goes on to state that carveouts to Venezuela-related GLs exclude authorization for exports of diluents to Venezuela. In the last paragraph of the FAQ, OFAC says that, given the likelihood of a "direct or indirect interest of PdVSA" in exports of diluents to Venezuela, "persons directly or indirectly exporting or reexporting diluents to Venezuela should exercise enhanced due diligence...