October 19, 2023
On October 18, 2023, the United Stated temporarily suspended certain sanctions against Venezuela in response to the recent signing of an electoral roadmap agreement between Venezuela’s Unitary Platform and representatives of Maduro. In recognition of the “concrete steps” taken by representatives of Maduro to ensure democracy and competitive elections, OFAC issued six (6) General Licenses aimed at supporting the Venezuelan people and encouraging democratic progress in the region. A summary of the recent changes in the Venezuelan sanctions regime is set forth below.
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