OFAC Venezuela Sanctions Update
On 19 March 2018 President Trump issued a new executive order related to US sanctions in respect of Venezuela - Executive Order 13827 "Taking Additional Steps to Address the Situation in Venezuela."
The EO prohibits US persons from dealing in any digital currency issued by, for, or on behalf of the Government of Venezuela on or after 9 January2018. This action is to counter attempts by the Venezuelan Govt to avoid US sanctions by using digital currencies including the "petro" and "petrogold."
Venezuela's traditional currency, the bolivar, is not considered a digital currency for the purposes of the EO.
The restrictions apply only to US persons, however, all persons engaging in crypto-currency transactions are encouraged by OFAC to reflect these restrictions in their OFAC compliance programmes. The restrictions may be of interest/relevance to Club members contracting with PDVSA / Venfleet.
The US has designated the following 4 individuals under this EO – as SDNs they are now subject to a US asset freeze:
CONTRERAS, Willian Antonio (a.k.a. CONTRERAS, William), Capital District, Venezuela; DOB 17 Aug 1968; citizen Venezuela; Gender Male; Cedula No. 9953939 (Venezuela); Passport 041067710 (Venezuela) expires 12 Jan 2016; Vice Minister of Internal Commerce, within the Ministry of Popular Power of Economy and Finance; National Superintendent for the Defense of Socioeconomic Rights (SUNDDE) (individual) [VENEZUELA].
LEPAJE SALAZAR, Nelson Reinaldo, Aragua, Venezuela; DOB 24 Apr 1969; citizen Venezuela; Gender Male; Cedula No. 10049353 (Venezuela); Passport 064906043 (Venezuela) expires 12 Jan 2016; alt. Passport 009551291 (Venezuela) expires 04 Mar 2013; Acting in the Capacity of the Head of the Office of the National Treasury (individual) [VENEZUELA].
MATA GARCIA, Americo Alex (Latin: MATA GARCÍA, Américo Alex) (a.k.a. MATA, Americo (Latin: MATA, Américo)), Miranda, Venezuela; DOB 02 Jan 1976; citizen Venezuela; Gender Male; Cedula No. 12711021 (Venezuela); Passport C1506013 (Venezuela); Alternate Director on the Board of Directors of the National Bank of Housing and Habitat; Former Vice Minister of Agricultural Economics; Former President of the Agricultural Bank of Venezuela (individual) [VENEZUELA].
ROTONDARO COVA, Carlos Alberto (a.k.a. ROTONDARO COVA, Carlos; a.k.a. ROTONDARO, Carlos), Capital District, Venezuela; DOB 11 Sep 1965; citizen Venezuela; Gender Male; Cedula No. 6157070 (Venezuela); Passport 083445280 (Venezuela) expires 29 Jan 2019; alt. Passport 022740782 (Venezuela) expires 24 May 2014; Former President of the Board of Directors of the Venezuelan Institute of Social Security (IVSS) (individual) [VENEZUELA].
