Venezuela Sanctions Tighten: OFAC Sanctions the Venezuelan Central Bank and Senators Propose Sanctions Legislation
April 18, 2019
On April 17, 2019, the U.S. Department of the Treasury’s Office of Foreign Assets Control announced that the Central Bank of Venezuela has been designated as a specially designated national under Executive Order 13850, banning all transactions within U.S. jurisdiction in which it has an interest.
As a result, any party who materially assists, sponsors, or provides financial, material, or technological support for, or goods or services to or in support of, the Central Bank of Venezuela now risks designation, whether or not the transaction takes place within U.S. jurisdiction.
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