In the latest edition of our Sanctions Watch weekly digest, we present significant updates on sanction watchlists and regulatory developments.
The Office of Foreign Assets Control has issued two Venezuela-related General Licenses (GLs), including General License 8M, allowing transactions involving Petroleos de Venezuela, S.A. (PdVSA) for the limited maintenance of essential activities, accompanied by an FAQ on the easing of sanctions.
The United Kingdom Export Control Joint Unit has revamped its guidance on strategic export controls, aiding exporters in understanding control lists, and their applicability, and ensuring compliance with the law for goods, software, or technology transfers.
European Union sanctions against Central African Republic and Venezuela gain support from third countries. The European Council’s decisions on arms supply restrictions for the Central African Republic and the renewal of measures for Venezuela are backed by candidate and potential candidate countries and EFTA nations.
The United Kingdom and South Korea joined forces to boost their ability to enforce sanctions against North Korea. They signed an accord for joint sea patrols to stop the illegal weapons program and showcase the growing partnership between the two countries.