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OFAC issues new telecommunications licenses for Venezuela
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has issued two new general licenses, No. 61 and No. 62, to facilitate operations within Venezuela’s telecommunications sector.
General License 61 authorizes the supply of goods, technology, software, and services from the United States or by U.S. persons to support the installation, maintenance, repair, and operation of telecommunications infrastructure. This includes services such as telephony, internet connectivity, radio, television, and the maintenance of undersea cables. The authorization extends to transactions involving Venezuelan state entities, specifically the National Commission of Telecommunications (Conatel), Cantv, and Movilnet.
General License 62 permits the negotiation and signing of contingent contracts for new investments in the telecommunications sector. However, the execution of such contracts remains subject to independent authorization from OFAC. These licenses aim to support the modernization and stability of the sector, which has faced significant infrastructure challenges.
Strict conditions apply to these authorizations. Transactions are prohibited with entities linked to Russia, Iran, North Korea, Cuba, or China. Furthermore, any contracts signed with the Venezuelan government must be governed by the laws of a U.S. state or jurisdiction, and dispute resolutions must occur in the United States, United Kingdom, France, or Singapore.
Entities
CANTV · Comisión Nacional de Telecomunicaciones · Compañía Anónima Nacional Teléfonos de Venezuela · Conatel · Department of the Treasury · Movilnet · Office of Foreign Assets Control · U.S. Department of the Treasury · United States Department of the Treasury · Venezuela
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] The execution of contingent contracts under License 62 requires independent authorization from OFAC. eldiario.com · talcualdigital.com
- [● 10 SOURCES] Telecommunications services covered include data, telephony, internet connectivity, radio, television, and news agency transmissions. eldiario.com · monitoreamos.com · nuevodia.com.ve · caraotadigital.net · 2001online.com · +4 more
- [● 3 SOURCES] Contracts with the Venezuelan government must be governed by the laws of a U.S. state or jurisdiction. nuevodia.com.ve · arepatecnologica.com · www.riotimesonline.com
- [● 3 SOURCES] Dispute resolution for these contracts must take place in the United States, United Kingdom, France, or Singapore. nuevodia.com.ve · arepatecnologica.com · www.riotimesonline.com
- [● 10 SOURCES] General License 62 allows for the negotiation and signing of contingent contracts for new investments in the telecommunications sector. eldiario.com · monitoreamos.com · caraotadigital.net · 2001online.com · nuevodia.com.ve · +4 more
- [● 9 SOURCES] The licenses authorize transactions involving the Venezuelan government, including Conatel, Cantv, and Movilnet. monitoreamos.com · caraotadigital.net · 2001online.com · eldiario.com · arepatecnologica.com · +3 more
- [● 10 SOURCES] General License 61 authorizes the supply of goods, technology, software, and services for the installation, maintenance, repair, and operation of telecommunications in Venezuela. eldiario.com · monitoreamos.com · nuevodia.com.ve · caraotadigital.net · 2001online.com · +4 more
- [● 10 SOURCES] The U.S. Treasury Department's OFAC issued General Licenses 61 and 62 regarding Venezuela's telecommunications sector. eldiario.com · monitoreamos.com · nuevodia.com.ve · caraotadigital.net · 2001online.com · +4 more
- [● 2 SOURCES] Transactions are prohibited with entities linked to Russia, Iran, North Korea, Cuba, or China. espiganoticias.net