OFAC Authorizes Certain Venezuela-Related Transactions Necessary For Port And Airport Operations

• Published date: 09 February 2021
• Subject Matter: Finance and Banking, Government, Public Sector, Financial Services, Government Contracts, Procurement & PPP
• Law Firm: Cadwalader, Wickersham & Taft LLP
• Author: Mr Cadwalader, Wickersham & Taft LLP

OFAC amended a General License authorizing certain transactions and activities "ordinarily incident and necessary to operations or use of ports and airports in Venezuela." General License No. 30A now covers transactions that involve the Instituto Nacional de los Espacios Acuaticos ("INEA"), which was sanctioned by OFAC on January 19, 2021. (Previously, General License 30 covered only transactions and activities involving the Government of Venezuela.) The authorization applies to transactions that otherwise would be prohibited by Executive Orders 13884 ("Blocking Property of the Government of Venezuela") and 13850 ("Blocking Property of Additional Persons Contributing to the Situation...