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OFFICE OF FOREIGN ASSETS CONTROL
Venezuela Sanctions Regulations 31 C.F.R. Part 591
GENERAL LICENSE NO. 15C
Authorizing Transactions Involving Certain Banks for Certain Entities
(a) Except as provided in paragraph (b) of this general license, all transactions and activities prohibited by Executive Order (E.O.) 13850 of November 1, 2018, as amended by E.O. 13857 of January 25, 2019, or by E.O. 13884 of August 5, 2019, each as incorporated into the Venezuela Sanctions Regulations, 31 C.F.R. part 591 (the VSR), that are ordinarily incident and necessary to the activities of the following entities, and their subsidiaries, which involve Banco de Venezuela, S.A. Banco Universal (Banco de Venezuela), Banco Bicentenario del Pueblo, de la Clase Obrera, Mujer y Comunas, Banco Universal C.A. (Banco Bicentenario del Pueblo), Banco del Tesoro, C.A. Banco Universal (Banco del Tesoro), or Banco Central de...
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*Note common to certain GLs: This is one of 12 GLs that pre-dated the blocking of the Government of Venezuela, pursuant to EO 13884, and was amended to account for the blocking. Except as otherwise noted, the substance of what the GL authorizes remains unchanged as a result of EO 13884. OFAC did not amend any FAQ dealing primarily with this FAQ as a result of the blocking of the GOV.
1) GL amended on 18 April 2019 to add the Banco Central de Venezuela to the scope of the license. GL further amended in August, 2019 to add EO 13884 to the heading, as all of the banks blocked pursuant to EO 13850 meet the definition of Government of Venezuela and are therefore blocked pursuant to EO 13884. The GL also added...