Treasury eases Venezuela sanctions amid electoral progress
By 
Kyle Brasseur2023-10-20T12:28:00
The U.S. Treasury Department dialed back certain of its sanctions against Venezuela after the latter’s government and an opposition faction agreed to work together toward the prospect of a presidential election in 2024.
The Treasury’s decision, announced Wednesday, followed the agreement between Venezuela President Nicolás Maduro and the country’s Unitary Platform on an electoral roadmap. Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian Nelson noted the United States’ actions are conditional and could be revoked at any time, should the Venezuela government not follow through on its commitments.
Sanctions changes announced by the Treasury included:
THIS IS MEMBERS-ONLY CONTENT
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
Related articles
-
ArticleVenezuela military intervention highlights critical resources as a new compliance hotspot
President Donald Trump’s military intervention in Venezuela has sent a message across the world that he regards resources as critical to U.S. national security and will act to secure them. In Venezuela, this primarily means crude oil reserves. However, oil is not the only valuable resource in the U.S. sights.
-
News BriefOFAC sanctions more investment entities linked to Hamas
The Treasury Department’s Office of Foreign Assets Control imposed a second round of sanctions on investment entities believed to be funding the terrorist organization Hamas.
-
News BriefFinCEN fines P.R.-based Bancredito $15M in landmark AML action
Puerto Rico-based Bancrédito International Bank and Trust Corporation was assessed a $15 million penalty by the Financial Crimes Enforcement Network for admitted violations of the Bank Secrecy Act regarding suspicious activity monitoring and anti-money laundering compliance.
More from Sanctions
-
ArticleLong-running corruption scandal adds €25.8M fine to billions already paid globally
The Netherlands Public Prosecution Office has fined a company linked to a U.S.-sanctioned Israeli businessman €25.8 million ($29.9 million) for bribing officials in the Congo. The case began in 2018 and relates to bribes paid in 2010-2011, demonstrating the slow and complex process often involved in such investigations.
-
ArticleU.K. and EU commit to extending Russian sanctions and strengthening enforcement
As the U.S. relaxes some Russian sanctions to ease oil flows, the U.K. government has published a new Strategic Approach to Sanctions Enforcement, indicating that it does not intend to relax its focus on prosecuting sanctions breaches.
-
News BriefOFAC temporarily lifts sanctions on certain Russian oil shipments
The U.S. Treasury Department issued a new Russia-related general license allowing certain transactions tied to Russian oil shipments already en route to India. This move comes after oil prices spiked as the U.S war on Iran continues.