ARTICLE
9 February 2021

OFAC Authorizes Certain Venezuela-Related Transactions Necessary For Port And Airport Operations

CW
Cadwalader, Wickersham & Taft LLP

Contributor

Cadwalader, established in 1792, serves a diverse client base, including many of the world's leading financial institutions, funds and corporations. With offices in the United States and Europe, Cadwalader offers legal representation in antitrust, banking, corporate finance, corporate governance, executive compensation, financial restructuring, intellectual property, litigation, mergers and acquisitions, private equity, private wealth, real estate, regulation, securitization, structured finance, tax and white collar defense.
General License No. 30A, like its predecessor, does not authorize activities related to the exportation or re-exportation of diluents to Venezuela.
Venezuela Government, Public Sector
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OFAC amended a General License authorizing certain transactions and activities "ordinarily incident and necessary to operations or use of ports and airports in Venezuela." General License No. 30A now covers transactions that involve the Instituto Nacional de los Espacios Acuaticos ("INEA"), which was sanctioned by OFAC on January 19, 2021. (Previously, General License 30 covered only transactions and activities involving the Government of Venezuela.) The authorization applies to transactions that otherwise would be prohibited by Executive Orders 13884 ("Blocking Property of the Government of Venezuela") and 13850 ("Blocking Property of Additional Persons Contributing to the Situation in Venezuela"), as incorporated by the Venezuela Sanctions Regulations.

General License No. 30A, like its predecessor, does not authorize activities related to the exportation or re-exportation of diluents to Venezuela.

 Primary Sources
  1. OFAC General License No. 30A: Authorizing Certain Transactions Necessary to Port and Airport Operations

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ARTICLE
9 February 2021

OFAC Authorizes Certain Venezuela-Related Transactions Necessary For Port And Airport Operations

Venezuela Government, Public Sector

Contributor

Cadwalader, established in 1792, serves a diverse client base, including many of the world's leading financial institutions, funds and corporations. With offices in the United States and Europe, Cadwalader offers legal representation in antitrust, banking, corporate finance, corporate governance, executive compensation, financial restructuring, intellectual property, litigation, mergers and acquisitions, private equity, private wealth, real estate, regulation, securitization, structured finance, tax and white collar defense.
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