WASHINGTON: The license for Venezuelan oil issued by US Department of the Treasury on Tuesday prohibits transactions with persons from Rus...
WASHINGTON: The license for Venezuelan oil issued by US Department of the Treasury on Tuesday prohibits transactions with persons from Russia, Iran, North Korea, Cuba, and China, according to the document published by the Department of the Treasury’s Office of Foreign Assets Control (OFAC).
"This general license does not authorize <…> any transaction involving a person located in or organized under the laws of the Russian Federation, the Islamic Republic of Iran, the Democratic People’s Republic of Korea, the Republic of Cuba, the People’s Republic of China, or any entity that is owned or controlled, directly or indirectly, by or in a joint venture with such persons," the document reads.
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