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 SDNshere:
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 Treasuryhere:
You may also be interested in:
This press release outlines Thomas Miller Americas' appointment of Meaghan Argentieri as a Senior Claims Executive to its New Jersey office.
The Club’s financial position remains strong with free reserves of $507 million as at 20 February 2021.
New PRC Civil Code: impact on guarantees
The new Civil Code of the People’s Republic of China came into effect from 1st January, 2021, bringing in numerous changes to the rules governing civil disputes in China, those of particular relevance to Members are the changes to the rules relating to guarantees, which we consider in more detail below.