MIAMI – The US Government Treasury Department issued a license decriminalizing the country’s port and airport operations managed by Venezuela’s government, except for oil exports and re-exports, diluents and the like.
According to bancaynegocios.com, The new license lifts specific penalties against the Instituto Nacional de Espacios Acuáticos (INEA) or any other entity in which the institution has a 50% or greater shareholding interest.
General License 30A
General license 30A authorizes transactions involving the government of Venezuela that are necessary for the use or operation of domestic ports and airports.
Consequently, this measure implies that certain important restrictions on the country’s international trade and certain humanitarian aeronautical operations have been removed. The law, however, continues to rule out transactions with directly sanctioned Venezuelan institutions, excluding the INEA.
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