') right .25rem center no-repeat content-box border-box #25303b;color:#fff;border:0;padding:.5rem 1rem;font-size:1rem}div.tx-llcatalog-pi div.users.filters form .search{margin:0 0 1rem;width:100%;text-align:left;padding:.5rem 1rem;height:2.5rem;background:rgba(37,48,59,.6);font-size:1rem}div.tx-llcatalog-pi div.users.filters form .search::before{float:right;font-size:1.1rem}div.tx-llcatalog-pi div.users.filters form .search span{padding:0;display:block}div.tx-llcatalog-pi div.users.filters div.filter div.categories ul li{background-image:none;padding:0}div.tx-llcatalog-pi div.users.filters div.filter span.field{display:block;padding:0;width:100%}div.tx-llcatalog-pi div.users.filters div.filter span.label{display:none}div.tx-llcatalog-pi div.users.filters div.filter span.field input.radio,div.tx-llcatalog-pi div.users.filters div.filter span.field input.checkbox{width:auto}div.tx-llcatalog-pi div.users.filters button{margin-bottom:1.4em;clear:both}div.tx-llcatalog-pi div.users.filters div.filter.alphabetical div.options ul li{float:left;margin:0;width:2.7em;height:2.7em;line-height:2.7em;background:#f2f2f2;color:#666}div.tx-llcatalog-pi div.users.filters div.filter.alphabetical div.options ul li span{float:left;background-image:none;background-color:rgba(0,59,117,.3);color:rgba(255,255,255,.75);padding:0;margin:0;width:2.7em;height:2.7em;line-height:2.7em;text-align:center}div.tx-llcatalog-pi div.users.filters div.filter.alphabetical div.options ul li a span{background-color:#003b75;color:#fff;-webkit-transition:background .2s;-moz-transition:background .2s;transition:background .2s}div.tx-llcatalog-pi div.users.filters div.filter.alphabetical div.options ul li a:hover span{background-color:#25303b}div.tx-llcatalog-pi div.users.filters div.filter.alphabetical div.options ul li.active,div.tx-llcatalog-pi div.users.filters div.filter.alphabetical div.options ul li.active a span{background-color:#fff;color:#003b75}div.tx-llcatalog-pi div.users.filters div.filter.alphabetical div.options ul li.active a{color:currentColor}div.tx-llcatalog-pi div.users.filters div.filter.alphabetical div.options ul li.active span,div.filters div.filter.alphabetical div.options ul li.active span{background-color:#fff;color:currentColor}div.tx-llcatalog-pi div.users.ilters div.filter.alphabetical div.options ul li.active span{color:#000}div.tx-llcatalog-pi div.users.filters div.filter.alphabetical div.options ul{margin:0}div.tx-llcatalog-pi div.users.filters div.filter.alphabetical div.options ul li a{background-image:none;padding:0}.knowledge.filters form{margin-bottom:1rem}.knowledge.filters button{margin-left:0}.knowledge.filters .filter{width:100%}.knowledge.filters .filter+.search{float:none}.knowledge.filters .filter .label{display:block;width:100%}.knowledge.filters .filter .field{width:100%}.knowledge.filters .filter.keywords .label{display:block;padding-bottom:.5em}.knowledge.filters .filter.keywords input{border:thin solid #ccc;padding:.5rem 1rem;min-height:2.5rem;max-width:100%}.filters .filter.keywords+.search{display:inline-block;vertical-align:bottom;font-size:1rem;width:100%;max-width:none;padding:0 1rem;margin:0}.filters .filter.keywords+.search::before{font-size:100%;display:inline-block}.knowledge.filters form select{-webkit-appearance:none;-moz-appearance:none;appearance:none;background-image:url("data:image/svg+xml;utf8, ");background-origin:content-box;background-position:right 0 center;background-repeat:no-repeat;background-size:.5625rem .375rem;border-radius:0;border:0;font-size:1rem;margin-bottom:0;min-height:2.5rem;padding:.5rem 1rem;width:100%}.knowledge.filters form select:focus,.knowledge.filters form select:active{outline:0}.knowledge.filters form .search{width:100%}.knowledge.filters form .search span{margin-left:.5rem}div.knowledge.filters button.search span{display:inline-block}div.offices div.mapContainer{width:auto}div.tx-llcatalog-pi div.offices{margin-left:0}div.quote{border:0;background-color:#e2e2e2}div.quote blockquote{line-height:1.5;color:#003b75;font-size:1.1rem;font-weight:400;font-style:normal;padding:1rem 1.5rem}div.quote blockquote::after{display:none}div.quote p.author{color:#25303b;font-style:normal;padding:0 1.5rem 1.5rem}div.featureBox>div.content h2{color:#000;background:0 0;padding:0}div.featureBox .csc-textpic-intext-left .csc-textpic-imagewrap{margin-right:0;clear:both;display:block;float:none;padding-top:1.5rem}div.featureBox .csc-textpic-intext-left .csc-textpic-imagewrap img{max-height:11.5rem;width:auto;display:block;margin:0 auto;-webkit-box-shadow:0 .1rem 1rem 0 rgba(17,17,17,.25);box-shadow:0 .1rem 1rem 0 rgba(17,17,17,.25)}#secondaryNavigation~div>a.download.pdf{padding:0}.pageLayout>div>.columnOne .featureBox>.content{padding:0 0 .1em;border:0;background:#f4f4f4;color:#003b75;font-size:105%}.pageLayout>div>.columnOne a>.featureBox>.content{-webkit-transition:.4s;-moz-transition:.4s;transition:.4s}.pageLayout>div>.columnOne a>.featureBox>.content:hover>div:not(.csc-textpic){background-color:#003b75;color:#fff}.pageLayout>div>.columnOne a>.featureBox>.content:hover img{-webkit-transform:scale(1.05);-moz-transform:scale(1.05);-ms-transform:scale(1.05);transform:scale(1.05);opacity:.8}.pageLayout>div>.columnOne a>.featureBox>.content img{will-change:transform,opacity;-webkit-transition:.4s;-moz-transition:.4s;transition:.4s}.pageLayout>div>.columnOne a>.featureBox>.content>div{-webkit-transition:.4s;-moz-transition:.4s;transition:.4s}.pageLayout>div>.columnOne .featureBox .csc-textpic-text,.pageLayout>div>.columnOne .featureBox>.content>div>.wrapper{padding:.7em 1em .7em 3em;background:url('/assets/uk-defence/img/icon-chevronCircleBlue.png') 1em .8em no-repeat;min-height:2em;color:inherit}.pageLayout>div>.columnOne .featureBox .csc-textpic-text{padding-top:0;background-position-y:.1em}.pageLayout>div>.columnOne .featureBox>.content h2,.pageLayout>div>.columnOne .featureBox>.content h3,.pageLayout>div>.columnOne .featureBox>.content h4{background:0 0;font-size:110%;padding:0;margin-bottom:.2em}.pageLayout>div>.columnOne .featureBox>.content p{line-height:1.4;margin-bottom:0}.pageLayout>div>.columnOne .featureBox>.content p a{color:#fff;padding:0;background:0 0}.pageLayout>div>.columnOne .featureBox>.content .csc-textpic,.pageLayout>div>.columnOne .featureBox>.content img{margin-bottom:0}.pageLayout>div>.columnOne .featureBox>.content .csc-textpic-center-outer,.pageLayout>div>.columnOne .featureBox>.content .csc-textpic-center-inner{position:static;float:none}.pageLayout>div>.columnOne .floatingBox{border:.2em solid #dedfe0;padding:1em 1em 1em 6.5em;min-height:4em;background:#fff}.pageLayout>div>.columnOne .floatingBox>.content{padding-top:.5em}div.userList div.twoColumnLayout.thirtySeventy div.columnOne,div.userSingle div.twoColumnLayout.thirtySeventy div.columnOne{max-width:75px}#c41179 .box.page.grey{margin-bottom:0}#c41391 div.box.page.grey{clear:both;background:url('/assets/uk-defence/img/map.png') 50% top no-repeat #f4f4f4;height:200px;text-align:center;margin-bottom:0;border-top:4px solid #d5d8db;border-bottom:4px solid #d5d8db}#c41391 div.box.page.grey div.content{text-align:center;width:90%;padding-top:2em}#c41391 div.box.page.grey h2{text-transform:uppercase;color:#003b75;border-bottom:1px solid #b4b4b4;letter-spacing:.3em;background-image:none;font-size:120%}#c41391 div.box.page.grey p{font-size:110%;color:#4d4d4d}#home #c41391 div.box.page.grey h2{font-size:150%;font-weight:400}div.columnTwo #c41391 div.box.page.grey{height:auto;margin-bottom:1em;border:4px solid #d5d8db;float:none;width:auto}div.columnTwo #c41391 div.box.page.grey div.content{padding-top:1em}.box.page.grey p.button{margin-bottom:1.5rem}#home div.pageLayout{padding-bottom:0}#home .box.page div.fourColumnLayout{margin:4rem 0 1rem;text-align:center}#home .box.page div.fourColumnLayout h3{color:#003b75;font-weight:400;font-size:1rem}#home .box.page div.fourColumnLayout img{margin-bottom:1rem;height:4rem!important;width:auto}#home .box.page div.fourColumnLayout .column{width:50%;display:inline-block;vertical-align:top;margin-left:-.5rem;padding:0 .5rem;-webkit-box-sizing:border-box;-moz-box-sizing:border-box;box-sizing:border-box}#home .box.page div.fourColumnLayout .column.columnTwo,#home .box.page div.fourColumnLayout .column.columnFour{border-left:.125rem solid #e2e2e2}#home .box.page div.fourColumnLayout .column.columnThree,#home .box.page div.fourColumnLayout .column.columnFour{border-top:.125rem solid #e2e2e2;padding-top:1rem}#home .box.page.grey{margin-bottom:2rem}#home .box.page.grey>.content{padding:2rem 1rem}#home .box.page.grey .csc-textpic-text{margin-top:1em}#home div.knowledgeBaseList.summary ul li{background:0 0;padding-left:0}#home div.knowledgeBaseList.summary ul li:not(:last-child){margin-bottom:1rem;padding-bottom:1rem;border-bottom:.125rem solid #e2e2e2}#home div.layout.twoColumnLayout.seventyThirty div.fiftyFifty div.column div.columnWrapper p{line-height:1.5em}#home .box.page.grey .twoColumnLayout .columnTwo .csc-firstHeader::before{content:'';background-image:url('/assets/uk-defence/img/icon-twitter.png');background-position:left center;background-repeat:no-repeat;background-size:1.6rem;padding-left:2rem}#home .box.page.grey .twoColumnLayout .article{text-align:center;display:inline-block;vertical-align:top;width:50%;padding:1rem;-webkit-box-sizing:border-box;-moz-box-sizing:border-box;box-sizing:border-box}#home .box.page.grey .twoColumnLayout .article:nth-child(odd){border-right:.125rem solid #e2e2e2;clear:left}#home .box.page.grey .twoColumnLayout .article h4{clear:both;padding-top:1rem}#home .box.page.grey .twoColumnLayout .article h4 a{font-weight:400;font-size:.8rem;color:#25303b;line-height:1.5}#home .box.page.grey .twoColumnLayout .article h4 a:hover{color:#003b75}#home .box.page.grey .twoColumnLayout .article img{width:auto;max-width:100%;border:0;padding:0;max-height:11.5rem}#home .box.page .threeColumnLayout .csc-textpic .csc-textpic-image img{-o-object-fit:cover;object-fit:cover;height:100%!important;width:100%}#home .box.page .threeColumnLayout .csc-textpic .csc-textpic-text{padding:1rem}#home .box.page .threeColumnLayout .csc-textpic .csc-textpic-text h3{font-weight:400}#home .box.page .threeColumnLayout .csc-textpic .csc-textpic-text p{color:#47bcca;margin-bottom:.5rem}#home .box.page .threeColumnLayout .csc-textpic .csc-textpic-text p:last-child{color:#111;margin-bottom:0}#home div.royalSlider{position:relative;background-color:#e2e2e2}#home div.royalSlider.contentSlider>div{max-height:none}#home div.royalSlider .rsContainer{background-color:#003b75;max-height:none}#home div.royalSlider .rsContainer div.image img{position:absolute;left:50%;-webkit-transform:translateX(-50%) translateY(-50%);-moz-transform:translateX(-50%) translateY(-50%);-ms-transform:translateX(-50%) translateY(-50%);transform:translateX(-50%) translateY(-50%);min-width:100%;top:50%;min-height:30vh;width:auto}#home div.royalSlider .rsContainer .rsSlide{max-height:none}#home div.royalSlider.overlay div.content{min-height:13rem;max-width:73em;margin:0 auto;position:relative;padding:3rem 1rem}#home div.royalSlider.overlay div.content div.contentWrapper{position:absolute;bottom:3rem}#home div.royalSlider.overlay div.content div.contentBox{padding:0;color:#fff;font-weight:400;margin:0;background:0 0;text-shadow:0 0 1rem rgba(0,0,0,.5);font-size:2em;line-height:1.3;position:relative}#home div.royalSlider.overlay div.content div.contentBox::before{display:inline-block;background-repeat:no-repeat;background-image:url(/assets/uk-defence/img/sprite.svg?1610721356);background-size:12.688em 10.75em;width:5.062em;height:5.75em;background-position:-7.344em -4.719em;content:'';font-size:.5rem}#home div.royalSlider span.rsTmb{display:none}#home div.royalSlider.rsDefault .rsNavContainer{float:none;bottom:.5em;top:auto;left:0;right:0}#home div.royalSlider.rsDefault .rsNav{float:none;padding:0;text-align:center}#home div.royalSlider.rsDefault .rsBullet{margin:0 7px}#home div.royalSlider.rsDefault .rsNav .rsNavSelected span{background-color:#47bcca}#home div.royalSlider.rsDefault .rsNav span{background:#fff}#home div.royalSlider div.videoPlayer>video{display:none}#home div.royalSlider .contentBox>*{color:currentColor;font-size:1.5rem;line-height:1.3;font-weight:400;text-shadow:0 0 1rem rgba(74,74,74,.5);background:0 0;margin-bottom:1rem;max-width:-webkit-calc(100% - 4rem);max-width:-moz-calc(100% - 4rem);max-width:calc(100% - 4rem)}#signup label{width:10em;float:left}#signup input[type=submit]{width:auto;border:none;background-color:#aaa;color:#fff;padding:.5em .8em;margin:0 0 1em;overflow:visible;border-radius:.4em}#signup input[type=checkbox]~label{width:-webkit-calc(100% - 2rem);width:-moz-calc(100% - 2rem);width:calc(100% - 2rem);float:none;margin-left:0;display:inline-block;vertical-align:top}div.alertModal a{color:#47bcca}div.alertModal .button{background:#47bcca}div.alertModal>.wrapper{background-color:#003b75;border-top-color:#47bcca}.fwFeaturedQuote.fwBox{background:#25303b}.fwFeaturedQuote.fwBox blockquote{font-size:150%}.fwFeaturedQuote.fwBox .quote{border:0}.fwFeaturedQuote.fwBox .quote blockquote{color:#fff}.fwFeaturedQuote.fwBox .quote p.author{opacity:1}.fwFeaturedQuote.fwBox .quote p.author::before{background-color:#47bcca}.fwBreakout.fwBox[style*=background]::before{background:-webkit-gradient(linear,left top,right top,color-stop(30%,rgba(0,59,117,.9)),to(rgba(0,59,117,.5)));background:-webkit-linear-gradient(left,rgba(0,59,117,.9) 30%,rgba(0,59,117,.5));background:-moz-linear-gradient(left,rgba(0,59,117,.9) 30%,rgba(0,59,117,.5));background:linear-gradient(to right,rgba(0,59,117,.9) 30%,rgba(0,59,117,.5))}.routingBoxGroup>div>div>a .routingBox::after{-webkit-filter:invert(1) grayscale(.1) brightness(5.2) opacity(.8);filter:invert(1) grayscale(.1) brightness(5.2) opacity(.8)}
On 21st April, 2020, OFAC renewed and re-issued General Licence 8, now General Licence 8F. The amended General Licence is a clear escalation of the US sanctions targeting Venezuela, and may be indicative of an increased focus by the US on its Venezuelan sanctions policy.
Background – General Licence 8
On 28th January, 2019, OFAC designated Venezuela’s state owned oil company, Petroleos de Venezuela S.A. (PdVSA), to the Specially Designated Nationals (SDN) list. As a result, US persons are prohibited from engaging in transactions with PdVSA and all entities that are owned 50% or more by PdVSA, absent OFAC’s express authorisation.
General Licence 8 is one of 36 such authorisations. The General Licence authorised US persons to engage in all transactions “ordinarily incident and necessary to the maintenance of operations, contracts, or other agreements” in Venezuela involving PdVSA or its subsidiaries for Chevron, Halliburton, Schlumberger, Baker Hughes and Weatherford International, all US entities.
General Licence 8F
The amended General Licence 8F applies to the same US entities as General Licence 8, and has an expiry date of 1st December, 2020.
The amendments to the General Licence appear to narrow the scope of authorised transactions with PdVSA and its subsidiaries. Only those transactions or activities that are ordinarily incident and necessary to the limited maintenance of essential operations, contracts, or other agreements are now permitted.
In addition, the General Licence sets out a number of exceptions to the authorisations. Of particular concern to Members is that the General Licence does not permit the transport or shipping of any Venezuelan-origin petroleum or petroleum products. This may have an impact on pending charters with Chevron for the carriage of product out of Venezuela, and Members should exercise caution with regard to the same.
More information can be found in the article published by Freehill, Hogar & Mahar LLP.
Newsletter Our newsletter update gives you insight into what's going on in the maritime industry
Subscribe
You are currently offline. Some pages or content may fail to load.