Hogan Lovells (JD Supra Venezuela)

10 results for Hogan Lovells (JD Supra Venezuela)

  • Contracts and Insolvency – a transformational change

    New statutory provisions retrospectively change the way many existing and future contracts work. Businesses urgently need to look afresh not just at supply arrangements but also many other significant transactions of which the supply of goods or services forms part. Please see full Publication below for more information.

  • EU imposes sanctions on Venezuelan officials

    The Council of the European Union has imposed restrictive measures on 11 leading Venezuelan officials, because of their role in acts and decisions undermining democracy and the rule of law in Venezuela.

  • EU expands its sanctions against Venezuela

    On 29 June 2020, the Council of the European Union have included eleven officials in the list of natural and legal persons, entities and bodies subject to asset freezing measures and a travel ban.

  • OFAC issues general licenses authorizing certain transactions involving the government of Venezuela

    On 5 November 2019 the Office of Foreign Assets Control (OFAC) issued two new general licenses authorizing certain transactions involving the government of Venezuela (GOV) and certain individuals affiliated with the GOV, which is blocked pursuant to Executive Order 13884 (EO 13884). Please see full Publication below for more information.

  • U.S. moves towards (but stops short of) complete embargo on Venezuela

    On 5 August 2019 the Trump administration issued Executive Order 13884 (the executive order) imposing sweeping sanctions against the government of Venezuela, including its agencies and instrumentalities as well as any entities owned or controlled by the Venezuelan government (collectively, the GOV). Please see full Publication below for more information.

  • U.S. imposes new sanctions targeting state-owned Venezuelan oil company PdVSA in effort to topple Maduro regime

    On 28 January 2019, the Department of Treasury’s Office of Foreign Assets Control (OFAC) designated Petróleos de Venezuela, S.A. (PdVSA) as a Specially Designated National (SDN) for operating in the oil sector of the Venezuelan economy pursuant to Executive Order (E.O.) 13850. This action follows the United States’ official recognition of the opposition-led government of interim President Juan...

  • New executive order targets Venezuela’s access to U.S. financial markets

    Effective August 25, 2017, President Trump issued a new Executive Order, (the Order), which targets the Government of Venezuela’s (GOV) and Petroleos de Venezuela, S.A.’s (PdVSA) ability to access capital from the United States including profits and dividends from its US assets, such as CITGO Holdings, Inc. (CITGO), the PdVSA-owned American subsidiary. Please see full Publication below for...

  • In Shot Across the Bow, U.S. Sanctions Venezuela’s Maduro

    One day after the Venezuelan government held elections for a Constituent Assembly that the United States has asserted is aimed at rewriting the national constitution, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated the President of Venezuela, Nicolas Maduro. Last week, OFAC designated 13 current and former Venezuelan government officials ahead of the...

  • Ahead of Maduro Power Play, Trump Administration Sanctions Venezuelan Officials

    Ahead of a Constituent Assembly that could re-write the Venezuelan Constitution and dissolve state institutions, the U.S. Treasury Department’s Office of Foreign Assets Control has designated 13 current and former Venezuelan government officials. According to the Treasury announcement, the designations focus on current and former officials of Venezuelan Government agencies “associated with the...

  • Higher Standard Required: Supreme Court on Foreign Sovereign Immunities Act

    On Monday, the Supreme Court of the United States issued its opinion in Venezuela v. Helmerich & Payne, a dispute over the proper pleading standards for parties suing foreign governments in U.S. courts. The decision was an 8-0 win for Hogan Lovells client Venezuela.

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