LICENSE No. VENZUELA-2019-360249-1

Date issued: Jun. 10 2020

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TURBOFAC Commentary (188 words)

Notes:

1) This license is typical of other licenses in the Research System allowing for the sale of blocked real property located in the U.S., and it is notable that OFAC allows the U.S. person holder of the aircraft at issue to “to recover for itself, from the proceeds of the sale, any amounts due from the storage and maintenance of the aircraft at the Licensee’s premises”. This is similar to what OFAC authorizes in the context of licenses that allow for the sale of blocked real property located in the U.S. (License No. FNK-2017-345343-1). This license was issued pursuant to the licensing policy at 594.207, which says that “Property blocked pursuant to § 591.201 may, in the discretion of OFAC, be sold or liquidated and the net proceeds placed in a blocked interest-bearing account in the name of the owner of...