Sanctions to Venezuela's vice president

US Department of Treasury imposed sanctions yesterday against Venezuela's Vice President Tarek El Aissami and his primary frontman in the US. His assets in the US were seized (bank accounts, corporations, real property), and US nationals and entities prohibited to trade with them.

The sanction was imposed by the Office of Foreign Assets Control (OFAC) of the US Department of Treasury by designating him as a "Specially Designated National" (SDN). See explanation about SDNs

here:

The Club understands that the sanction is only affecting this person, and not any other Venezuelan interest or Venezuelan state-owned assets in the US.

There is a press release of the US Department of Treasury

here:

Staff Author

UK P&I

Date15/02/2017

Tags

You may also be interested in:

Press releases

This press release outlines Thomas Miller Americas' appointment of Meaghan Argentieri as a Senior Claims Executive to its New Jersey office.

Articles

The U.S. Department of Treasury’s Office of Foreign Assets Control (OFAC) has continued to focus on international shipping as a means to implement the Iranian sanctions program and has now turned its attention to the bunkering of vessels engaged in Iranian trade or involving Iranian vessels.

Articles

The UK P&I Club have received the following client alert from Freehill Hogan and Mahar, regarding a COSCO license update.

Articles

The preparation of cargo holds for the next intended carriage is a critical operation which requires careful planning and execution; this article considers a number of legal issues which may arise, including terms commonly used in charterparties to describe the cleanliness of cargo holds, the consequences of failing to comply with such terms, potentially resulting in off-hire claims and damages, and the role of the independent surveyor.