LICENSE No. VENEZUELA-EO13850-2020-367941-1

Date issued: May. 17 2021

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TURBOFAC Commentary (360 words)

Notes:

1) The license suggests that the mere filing of an "in rem action for lien foreclosure" requires an OFAC license. Compare generally General Note Concerning Unlicensed Litigation Involving Sanctioned Persons or Property; the Question of Whether Judicial Action Constitutes the Unlicensed "Transfer" of Blocked Property (System Ed. Note). Is a license required for in rem litigation where the activities do not require a "transfer" of the blocked property? It is possible that OFAC asserts jurisdiction over in rem proceedings due to an assumption that the initiation of such proceedings will quickly result in an attempt to arrest, or judicially restrain, the blocked property in question. Compare LICENSE No. FNK-2017-340944-2 (the...prohibition on United States persons’ transactions or dealings in blocked property [applies] to the arrest and transfer of custody of [blocked] vessels" by a court). OFAC has considered such actions to...