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ARTICLE · 13 JANUARY 2021

OFAC Amends General License Authorizing Transactions With Certain Venezuelan Officials

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The amended general license went into effect on January 4, 2021 and supersedes GL 31.

United StatesFinance and Banking
Hogan Lovells Cadwalader
Hogan Lovells Cadwalader
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OFAC issued General License ("GL") No. 31A authorizing U.S. persons to engage in transactions involving current Interim President of Venezuela Juan Gerardo Guaidó Marquez ("Guaidó"), the IV Venezuelan National Assembly and its Delegated Commission, as well as related persons, that would be otherwise prohibited by Executive Order ("EO") 13884 ("Blocking Property of the Government of Venezuela"). Additionally, GL 31A authorizes transactions involving persons appointed by Guaidó, the IV National Assembly or its Delegated Commission to the board of directors or as executive officers of a Government of Venezuela entity that would be prohibited by EO 13850 ("Blocking Property of Additional Persons Contributing to the Situation in Venezuela").

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