On August 5, 2019, the Trump administration imposed sweeping economic sanctions against the Venezuelan Government to further target President Nicolás Maduro's regime.
In the Executive Order, the administration froze all assets held by, and prohibited any transactions with, the Venezuelan Government. As reported in The Wall Street Journal, these "stringent U.S. measures" are the first such action against a government in the Western Hemisphere in over 30 years.
Pursuant to the Executive Order, OFAC (i) updated its FAQs, (ii) amended 12 general licenses, and (iii) issued 13 new general licenses. In addition, OFAC clarified that it is maintaining authorizations permitting U.S. persons to continue providing humanitarian aid and support to the people of Venezuela.
The U.S. Treasury Department Office of Foreign Assets Control designated the Venezuelan state-owned oil and natural gas company for sanctions.
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