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Publication of Venezuela Sanctions Regulations Web General Licenses 30B and 51.
Plain English Summary
The U.S. Treasury Department has released two new general licenses related to sanctions on Venezuela, known as GL 30B and GL 51. These licenses provide specific permissions for certain activities that were previously restricted under the sanctions. Insurance agents should review these licenses to understand how they may impact their business dealings involving Venezuela.
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The Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing two general licenses (GLs) issued pursuant to the Venezuela Sanctions Regulations: GLs 30B and 51, each of which was previously made available on OFAC's website.