Member Alert

Home News Member Alert

Member Alert

Göteborg: 8 August 2019

U.S increase sanctions against Venezuela

On 5th August 2019 President Trump issued Executive Order 13884. The Order targets the government of Venezuela and blocks all its assets and property in the U.S. The Order also prohibits the Venezuelan government to use the US financial system. The Venezuelan government is defined as follows:

The state and Government of Venezuela, any political subdivision, agency, or instrumentality thereof, including the Central Bank of Venezuela and Petroleos de Venezuela, S.A. 509645.1 (PdVSA), any person owned or controlled, directly or indirectly, by the foregoing, and any person who is acted or purported to act directly or indirectly for or on behalf of, any of the foregoing, including as a member of the Maduro regime.

Notably, US persons are specifically not prohibited to engage is transactions involving the country or people of Venezuela.

The Order further prohibits non-US persons to provide material assistance to or goods or services in support of the government of Venezuela, its agencies or any entity in which it holds a 50% or greater interest.

The full text of Executive Order 13884 can be found here [https://www.freehill.com/wp-content/uploads/2019/08/Executive-Order-13884.pdf].  

As a result of the Venezuelan sanctions members trading to Venezuela are recommended to exercise great caution. In particular, members are strongly advised against having any involvement in the Venezuelan oil sector. For further information see the Club’s previous Members Alert and sanctions information at https://www.swedishclub.com/loss-prevention/legal/sanctions/.

 

Member Alert is published by The Swedish Club as a service to members. While the information is believed correct, the Club cannot assume responsibility for completeness or accuracy. 

Visiting address

The Swedish Club
Gullbergs Strandgata 6
SE-411 04 Gothenburg
Sweden

Postal address

The Swedish Club
Gullbergs Strandgata 6
P.O Box 171
SE-401 22 Gothenburg
Sweden

Phone/Fax/E-mail

Tel +46 31 638 400
Fax +46 31 156 711
E-mail swedish.club@swedishclub.com

Emergency

GOTHENBURG: +46 31 151 328
Piraeus: +30 6944 530 856
Hong Kong: +852 2598 6464
Tokyo: +81 44 222 0082
Oslo: +46 31 151 328

Disclaimer

Disclaimer and Cookie information

Privacy Policy

The Swedish Club Privacy Policy

Member Complaint

Member Complaint

The Swedish Club is a member of: