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OFAC FAQ (Current) # 679 - Executive Order of August 5, 2019, “Blocking Property of the Government of Venezuela” (PDF contains all versions)

Date issued: Jan. 09 2023

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679. Executive Order (E.O.) 13884 of August 5, 2019, “Blocking Property of the Government of Venezuela,” blocks all property and interests in property of the Government of Venezuela. What does this mean for the IV Venezuelan National Assembly seated on January 5, 2016 (“IV National Assembly”)?

The United States stands with the Venezuelan people and the IV National Assembly in opposition to the Maduro regime. On January 09, 2023, OFAC issued Venezuela-related General License 31B authorizing all transactions involving the IV National Assembly, its Delegated Commission, any entity established by, or under the direction of, the IV National Assembly to exercise its mandate (“IV National Assembly Entity”), or involving any person appointed or designated by, or whose appointment or designation is retained by, the IV National Assembly, its Delegated Commission, or a IV National Assembly Entity, to act on behalf of the Government of Venezuela, including their...

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TURBOFAC Commentary (188 words)

Notes:

1) FAQ generally restates the contents of Venezuela General License 31. See comments to GL 31. The FAQ was amended on Jan. 4, 2020, to reflect the change in the authorization section of the GL (substituting “Venezuelan National Assembly” for the “IV National Assembly,” and specifying that the authorization covers the “Delegated Commission” of the IV National Assembly). In the 1-4-2020 amendment, OFAC removed the word "former" from "in opposition to the illegitimate former Maduro regime." This may have been to prevent confusion as to whether the “Maduro regime” is what is referred to by the term “Government of Venezuela.”

2) FAQ amended on 1-9-23, in light of the amendments to Venezuela General License 31 brought about by the removal from office of Juan Guaido. The amended FAQ reflects the changed scope of GL 31, i.e. insofar as...