TREASURY ISSUES GENERAL LICENSE REGARDING VENEZUELAN SANCTIONS
March 19, 2021
On February 2, 2021, the U.S. Treasury Department issued General License 30A to the Venezuelan Sanctions Regulations, authorizing Certain Transactions Necessary to Port and Airport Operations. After Venezuela’ maritime authority, Instituto Nacional de los Espacios Acuáticos (INEA), was added to the Specially Designated Nationals and Blocked Persons (SDN) List in January 2021, under Executive Order (EO) 13850, many shipping operators were concerned about sanctions violations due to the need pay INEA local port fees. This action likely would have prohibited humanitarian aid, food, and medical supplies from being shipped into the Country. Under the license, payments to INEA, and the entities it owns and controls, that are ordinarily incident and necessary to operations or use of ports and airports in Venezuela are now authorized.
If you have any questions, please contact Evelyn Sahr (esahr@eckertseamans.com or 202-659-6622); Drew Derco (dderco@eckertseamans.com or 202-659-6665), or Andy Orr (aorr@eckertsemans.com or 202-659-6625).
Share This Post
Authors
