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Further US Designations in Respect of Venezuela Sanctions



Venezuela - iStock-583795412 resized.jpg

On 10 May 2019, OFAC issued an update adding two more shipowners and ships to the OFAC SDN List for operating “in the oil sector of the Venezuelan economy.”

Although most of the designations made so far have related to vessels engaged in trade between Venezuela and Cuba, Members should note that all trade with Venezuela in the petroleum sector poses a risk of sanctions.

Members should also note that OFAC is not providing any warning to ship owners prior to making designations.