The Office of Foreign Assets Control (OFAC) of the US Department of the Treasury on Tuesday issued two new licenses permitting American companies and citizens to do business with Venezuela. The first license (GL 56) allows negotiations on commercial contracts with the government of Venezuela, including preliminary agreements and participation in public tenders. The second license (GL 57) permits financial transactions with four state banks of the country: the Central Bank of Venezuela, Banco de Venezuela, the Workers' Digital Bank, and the Treasury Bank.
The new rules cover a wide range of banking operations, including account openings, money transfers, dollar correspondent services, transfers of funds to relatives, and foreign currency operations. However, the licenses contain important restrictions: they do not apply to dealings with organizations linked to Russia, Iran, North Korea, Cuba, or companies controlled by Chinese nationals. Also excluded are persons on OFAC's sanctions list. Both licenses, signed by OFAC Director Bradley Smith, take effect immediately.
Full version: OFAC autoriza operaciones con el Banco de Venezuela, Tesoro y BCV tras emitir nueva licencia