This circular provides an update to the information in Circular 17/23 regarding temporary authorisation of certain transactions involving oil, gas and gold in Venezuela. 

The US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) recently issued 4 general licenses suspending certain sanctions in relation to transactions involving oil, gas, and gold in Venezuela.

The Club would like to draw Members' attention to the latest breaking news from our listed correspondent Venepandi C.A. relating to the new protocol to crew changes on all Venezuelan ports.

Last week saw significant developments in the U.S. sanctions programs targeting Venezuela and Iran.

On Monday 5 August, 2019, President Trump issued Executive Order 13884, effectively blocking the assets of the Government of Venezuela in the United States or in the possession and control of any United States person.

Members whose trade involves Venezuela should be aware that OFAC has recently added to the SDN list four ship owning companies and nine vessels.

Freehill, Hogan and Mahar have just issued the latest client alert on Venezuelan Sanctions

The UK Club have received the attached circular from correspondents GLOBALPANDI, regarding traffic restrictions in Venezuelan ports.

The UK Club have received the following update from Matheus & Ulloa, regarding piracy in Venezuela.

The UK P&I Club have received the following update from correspondents Pandi Ocean, regarding the newly created digital currency 'Petro' by the Venezuelan government.

The UK P&I Club have received the following update on the illegal transportation of oil in tankers in Venezuela from lawyers, Matheus & Ulloa.

The UK P&I Club have received the following circular from Globalpandi, regarding a maritime and air traffic ban to Aruba, Bonaire and Curacao from Venezuela.

In July and August of 2017 the U.S issued another Executive Order expanding on the sanctions against Venezuela.