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LICENSE No. VENEZUELA-EO13884-2020-366491-1
VENEZUELA SANCTIONS REGULATIONS
LICENSE
Issued under the authority of one or more of 50 U.S.C. §§ 1601-51, 1701-06, Pub. L. 113-278, Executive Orders 13692, 13808, 13827, 13835, 13850, 13857, and 13884, and 31 C.F.R. Parts 501 and 591.
To: [ ]
1101 Pennsylvania Avenue, NW
10th Floor
Washington, DC 20004
Attn: [ ]
1. Based upon the request dated March 12, 2020, additional correspondence dated September 25, 2020, October 29, 2020, and November 4, 2020, and information otherwise available to the Office of Foreign Assets Control (the “Application”), the transactions described herein are hereby authorized.
2. This License is subject to the condition, among others, that the Licensee(s) comply with its terms and with all regulations, rulings, orders, and instructions issued under any of the...
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1) Geneal Factual Background
As described in the PDF (see pp. 2-8), the German subsidiary (Anschütz ) of a U.S. person entity lost an ICC arbitration in 2012 to an entity that meets the definition of “Government of Venezuela” and is owned by PdVSA (“DIANCA”). The arbitral award was conditioned on DIANCA dismissing its parallel litigation against Anschütz in Venezuela, and in 2016, Anschütz entered into an escrow agreement with JPMorgan whereby it deposited $4,018,247 into an escrow account that provided that Anschütz retained ownership of the funds, and that the funds would remain in escrow until such time as Anschütz certified that the conditions of the arbitral award (e.g. dismissal of the Venezuela litigation) were satisfied. The escrow agreement explicitly stated that DIANCA was not a party thereto. “DIANCA secured dismissal of the Venezuelan litigation in April of 2018, at which point...