The Office of Foreign Assets Control (OFAC)attached to the United States Department of the Treasury, temporarily authorized financial operations linked to assistance for the double earthquake on June 24 in Venezuela. The measure was established in general license No. 60, published this Friday, and will be valid until April 21, 2027.
The provision allows for transactions that under other circumstances would be restricted by the Regulations. Sanctions against Venezuela (VSR), as long as they are intended to support earthquake-related relief efforts and meet the conditions set by US authorities.
One of the scopes of the license is to facilitate the movement of resources to and from Venezuela, even when transfers are made on behalf of people located in third countries. The authorization includes the processing of funds by financial institutions, as long as the operations are linked to the assistance activities contemplated in the document.
For banking entities in the United States and money transmitters registered in that country, the regulations allow the data provided by the payer to be taken as a reference to verify whether a transfer complies with the authorization. This provision applies whenever the entities do not know or have reason to suspect that the operation fails to comply with the established requirements.
However, the license does not imply the general lifting of US sanctions against Venezuela. The text expressly excludes the unlocking of frozen assets under the VSR regime and maintains the prohibitions provided for in other executive orders and regulatory provisions that are not covered by this authorization.
