On August 5, 2019, President Donald Trump signed an executive order (the “Executive Order”) imposing further economic sanctions against the Government of Venezuela and its supporters. Specifically, the Executive Order provides that all property and interests in property of the Government of Venezuela that are subject to U.S. jurisdiction are “blocked” and that U.S. persons are generally prohibited from engaging in dealings with the Government of Venezuela, subject to limited exceptions. The Executive Order also directs the blocking of the property and interests in property of persons determined: (i) to have “materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to” persons identified on the List of Specially Designated Nationals and Blocked Persons; or (ii) to be owned or controlled by, or acting for or on behalf of, directly or indirectly, the Government of Venezuela.
