Browsing Tag

OFAC licenses

World Bank and IMF reestablish relations with Venezuela

Amid the easing of sanctions against Venezuela by the United States, the International Monetary Fund and the World Bank announced on Thursday, April 16, the reestablishment of relations with the South American country. The decision was announced following recent licenses issued by the Office of…

Repsol to resume operations in Venezuela with 50 % production increase

The Spanish oil company Repsol plans to resume operations in Venezuela, thanks to new licenses issued by the OFAC (Office of Foreign Assets Control), as well as the United States' openness to new business opportunities. Furthermore, the…