LICENSE No. VENEZUELA-EO13850-2022-947074-1 [Application Included]

Date issued: Jul. 01 2022

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TURBOFAC Commentary (544 words)

Notes:

1) For relevant factual background concerning related case, see comments to LICENSE No. VENEZUELA-EO13850-2019-359725-3.

2) This license is notable, and rare, for the way in which it attempts to (and does) “cure” an otherwise unlicensed dealing in property in which a blocked person had an interest. Specifically, it appears that U.S. persons purchased the yacht Blue Ice at a time at which a blocked person had an interest therein (see comments to LICENSE No. VENEZUELA-EO13850-2019-359725-3). The license, issued on July 1, 2022, attempts to “cure” the otherwise unauthorized purchase, and make it such that the purchase would not be “null and void” for the purposes of U.S. law. (See General Note on the Boilerplate Provision Titled “Effect of Transfers Violating the Provisions of This Part”; “Null and Void” Transfers (System Ed. Note)). Compare Case...