Markets Wired

Action to Enhance Compliance with Broad Venezuela Sanctions Program

 Washington – The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today identified the Venezuelan state-owned airline Consorcio Venezolano de Industrias Aeronauticas y Servicios Aereos, S.A. (CONVIASA) as subject to sanctions as part of the Government of Venezuela, pursuant to Executive Order (E.O.) 13884.  Today’s action also identifies the CONVIASA fleet of aircraft as blocked property of the Government of Venezuela pursuant to E.O. 13884.  Conviasa and its fleet have been blocked since the issuance of E.O. 13884 of August 5, 2019, and today they have been added to the OFAC’s Specially Designated Nationals List to ensure strengthened compliance with U.S. sanctions. 

“The illegitimate Maduro regime relies on the Venezuelan state-owned airline CONVIASA to shuttle corrupt regime officials around the world to fuel support for its anti-democratic efforts,” said Secretary Steven T. Mnuchin. “The Trump Administration will not allow Maduro and his proxies to continue stealing from the Venezuelan people and abusing state-owned assets to advance their own corrupt and destabilizing activities.”

 

CONVIASA operates as a commercial airline based in Caracas, Venezuela, flying both domestic routes as well as providing service to select international locations.  This action does not prevent the ability of the Venezuelan people to travel, as they can continue to travel on various other carriers not subject to OFAC sanctions.  Rather, this action is intended to curtail the Maduro regime’s misuse of the airline.  For instance, the Maduro regime has commandeered CONVIASA’s aircraft to promote its own political agenda, including shuttling regime officials to countries such as North Korea, Cuba, and Iran. 

The following CONVIASA aircraft are blocked property of the Government of Venezuela.

• YV1003, Make & Model: Viking Air DHC7
• YV2984, Make & Model: Airbus A319
• YV1004, Make & Model: Airbus A340
• YV1008, Make & Model: ATR ATR42
• YV1009, Make & Model: ATR ATR42
• YV1005, Make & Model: ATR ATR42
• YV1850, Make & Model: ATR ATR72
• YV2421, Make & Model: ATR ATR72
• YV2422, Make & Model: ATR ATR72
• YV3434, Make & Model: Boeing B737
• YV2558, Make & Model: Boeing B737
• YV2559, Make & Model: Boeing B737
• YV378T, Make & Model: Boeing B737
• YV1007, Make & Model: Boeing B737
• YV2557, Make & Model: Boeing B737
• YV2556, Make & Model: Boeing B737
• YV1000, Make & Model: Viking Air DHC7
• YV3016, Make & Model: Embraer ERJ190
• YV2966, Make & Model: Embraer ERJ190
• YV2850, Make & Model: Embraer ERJ190
• YV2849, Make & Model: Embraer ERJ190
• YV2851, Make & Model: Embraer ERJ190
• YV2911, Make & Model: Embraer ERJ190
• YV2912, Make & Model: Embraer ERJ190
• YV2913, Make & Model: Embraer ERJ190
• YV2943, Make & Model: Embraer ERJ190
• YV2944, Make & Model: Embraer ERJ190
• YV2953, Make & Model: Embraer ERJ190
• YV2954, Make & Model: Embraer ERJ190
• YV2965, Make & Model: Embraer ERJ190
• YV2964, Make & Model: Embraer ERJ190
• YV3052, Make & Model: Embraer ERJ190
• YV3071, Make & Model: Embraer ERJ190
• YV2969, Make & Model: Cessna 208
• YV2970, Make & Model: Cessna 208
• YV2993, Make & Model: Cessna 208
• YV2994, Make & Model: Cessna 208
• YV3032, Make & Model: Cessna 208
• YV3033, Make & Model: Cessna 208
• YV3034, Make & Model: Cessna 208

OFAC’s regulations generally prohibit all transactions by U.S. persons or within (or transiting) the United States that involve any property or interests in property of blocked persons.

Identifying information on the entity and aircraft identified today.

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