The Office of Foreign Assets Control (OFAC) of the United States Department of the Treasury authorized certain operations with the Venezuelan government to address the covid-19 situation.
Through a communiqué from the Treasury Department, it is stated that the new licenses authorize, for humanitarian reasons, transactions and activities that involve the Government of Venezuela and that are related to the prevention, diagnosis or treatment of COVID-19 (including research or clinical studies related to COVID-19) previously prohibited by executive orders.
The restrictions were lifted to the entities Banco Central de Venezuela (Central Bank of Venezuela – BCV), Banco de Venezuela, Banco Bicentenario del Pueblo or any entity in which the BCV, Banco de Venezuela or Banco Bicentenario del Pueblo are proprietors, either individually or jointly, directly or indirectly, in 50 percent or more interest.
These licenses expire on June 17, 2022 and prohibit activities involving Petróleos de Venezuela, Banco de Desarrollo Economico y Social de Venezuela (Bandes).
