LICENSE No. VENEZUELA-EO13850-2021-373544-2

Date issued: Mar. 29 2023

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TURBOFAC Commentary (177 words)

Notes:

1) This is one of many Licenses Authorizing Transactions Involving Blocked Real Property Located in the U.S. in the Research System (link is to search query).

This license differs from all others currently in the Research System in that it allows for transfer of blocked property to a non-blocked person to satisfy an outstanding loan that was made to a blocked person, and the context is a settlement agreement. In this case, a loan was granted, and the real property was offered as security for the loan (see native PDF). In the normal case, OFAC grants a license (see e.g. LICENSE No. FNK-2018-358178-1) so that an entity can “engage in all transactions necessary and incident in furtherance of its pursuit of its contractual and legal rights as it relates to the property…including the initiation of a judicial sale of...