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Cuban Oil Importer Sanctioned By OFAC For Continued Trade With Venezuela

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Last week the Federal government announced sanctions against Cuba’s state-run oil importer and exporter on allegations that it continues to provide defense, intelligence, and security support for Venezuelan president Nicolas Maduro.

On Wednesday the Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated the firm due to allegations that it continues to trade with Venezuela under an agreement struck in 2000 by which Venezuela ships petroleum to Cuba in exchange for goods and services. Per OFAC, the goods and services provided to Venezuela under the agreement include medical supplies, technology, and military assistance.

However, OFAC alleges that the goods and services provided to Venezuela under the agreement go only to the regime of Nicolas Maduro, which the U.S. government does not recognize as the country’s rightful leader. And, with OFAC’s January designation of Venezuela’s state-owned oil company, Cuba’s oil importer’s continued trade under the contract was conducted in violation of the terms of that designation.

As with all such designations by OFAC, any property or other assets owned by the sanctioned firm that reside in the jurisdiction of the United States are frozen and cannot legally be utilized by the organization, and Americans are forbidden from conducting business with the firm or its representatives.

The Law Offices of Bjorn Brunvand have been representing people charged with capital murder, felony drug charges, drunk driving, government fraud, and white-collar crimes for over a quarter century. Contact our office today to discuss your Tampa Bay-area state or federal charges.

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