On March 8, 2019, OFAC issued amended General Licenses 3D and 9C related to Venezuela sanctions, extending the wind down periods in relation to financial contracts and other agreements involving certain bonds and Petróleos de Venezuela, S.A. (PdVSA), along with its subsidiaries.
On March 14, 2019, OFAC announced the replacement of the List of Foreign Financial Institutions Subject to Part 561 (the "Part 561 List") with the List of Foreign Financial Institutions Subject to Correspondent Account or Payable-Through Account Sanctions (the “CAPTA List”). The CAPTA List contains identifying information of foreign financial institutions for which the opening or maintaining of a correspondent account or a payable-through account in the United States is prohibited or is subject to one or more strict conditions.
On March 14, 2019, OFAC extended the expiration date of a general license related to PDV Holding, Inc. (PDVH), and CITGO Holding, Inc. General License 7A provides an 18-month authorization that renews automatically on a monthly basis, which will enable CITGO to maintain operations in markets that are based on long-term planning and contractual commitments.
On October 24, 2018, the Bureau of Industry and Security (BIS) revised the Commerce Control List (CCL) and EAR to update the Wassenaar Arrangement List of Dual-Use Goods and Technologies following changes decided upon during the December 2017 Plenary meeting. This final rule amends over fifty (50) ECCNs, License Exceptions APR, ENC, and STA, Definitions, the WA Sensitive and Very Sensitive Lists, and Regional Stability Controls.