News

CLIENT ALERT: U.S. SANCTIONS AGAINST VENEZUELA STEPPED UP – INTERNATIONAL SHIPPING LARGELY UNAFFECTED

The first U.S. sanctions against Venezuela, in response to human rights abuses and other concerns, were contained in Executive Order 13692 dated March 8, 2015. That E.O. blocked the property in the U.S., or under U.S. control, of those persons listed in the Annex to the E.O., or of persons determined to be responsible for any of the abuses in question, and subsequently designated pursuant to the E.O. In addition, the E.O. called for the blocking of the property in the U.S. of any person (not just a U.S. person) determined to have materially assisted or provided financial, material or technological support, or goods or services to, any person named under the E.O.

In July and August of 2017 the U.S. designated additional persons pursuant to E.O. 13692 and issued another Executive Order expanding the sanctions against Venezuela. However, to date none of the U.S. sanctions appear to have had a direct effect on international shipping.

For the full Client Alert on the topic, please click here.