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Hugo Londoño via flickr
According to the general license, which was posted on Thursday by the Office of Foreign Assets Control (OFAC), a division of the U.S. Treasury, U.S.-registered entities are allowed to carry out "all transactions that are prohibited under the Venezuela sanctions provisions."
However, the license restricts any transactions involving the Venezuelan oil sector with individuals or entities based in the Russian Federation, Iran, North Korea, Cuba, or any organizations that are owned or controlled by these countries.
In addition, the general license restricts any dealings with companies based in the United States or Venezuela that are connected directly or indirectly to China.
On January 29, US President Donald Trump stated that he had directed the opening of Venezuela's airspace after a phone conversation with Acting President Delcy Rodríguez.
Trump stated that he had directed the Pentagon and the Department of Transportation to carry out the required adjustments by the end of the day. He also mentioned that Rodriguez had advised him that the country's authorities were advancing in enhancing the security conditions.
source: bloomberg.com
However, the license restricts any transactions involving the Venezuelan oil sector with individuals or entities based in the Russian Federation, Iran, North Korea, Cuba, or any organizations that are owned or controlled by these countries.
In addition, the general license restricts any dealings with companies based in the United States or Venezuela that are connected directly or indirectly to China.
On January 29, US President Donald Trump stated that he had directed the opening of Venezuela's airspace after a phone conversation with Acting President Delcy Rodríguez.
Trump stated that he had directed the Pentagon and the Department of Transportation to carry out the required adjustments by the end of the day. He also mentioned that Rodriguez had advised him that the country's authorities were advancing in enhancing the security conditions.
source: bloomberg.com
