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2 clusters · 11 sources · 2 days · First seen · Last updated

U.S. telecommunications sanctions relief in Venezuela

Overview

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has issued two new general licenses, 61 and 62, to support the telecommunications sector in Venezuela. These measures aim to provide flexibility for rebuilding infrastructure and services through private investment and technical support.

General License 61 authorizes the supply of goods, technology, software, and services to support the installation, maintenance, repair, and operation of telecommunications infrastructure. This includes internet connectivity, telephony, radio, television, and news agency transmissions via various mediums, such as satellites or undersea cables. The license also covers operational activities including logistics, insurance, cloud services, and payment processing.

General License 62 permits the negotiation and signing of contingent contracts for new investments, expansions, or joint ventures in the sector. These licenses allow transactions involving state-linked entities such as Cantv, Movilnet, and the National Telecommunications Commission (Conatel).

However, the execution of contracts under License 62 requires independent OFAC authorization. To mitigate risks, OFAC mandates that any contracts involving the Venezuelan government must be governed by U.S. law, with dispute resolutions held in the U.S., United Kingdom, France, or Singapore. Additionally, these licenses specifically exclude transactions involving entities linked to Russia, Iran, North Korea, Cuba, or China.

Entities

U.S. Department of the Treasury · Conatel · CANTV · Office of Foreign Assets Control · Comisión Nacional de Telecomunicaciones

Claims

What the coverage asserts, and how many sources carry each claim.

Timeline

  1. about 22 hours ago

    [INTERNATIONAL] 9 sources
    OFAC issues new telecommunications licenses for Venezuela

    The U.S. OFAC issued General Licenses 61 and 62, authorizing specific telecommunications transactions and new investments in Venezuela, including operations with Conatel and Cantv.

  2. 3 days ago

    [INTERNATIONAL] 2 sources
    U.S. authorizes Venezuelan telecom operations as Argentina restricts foreign state control in rail bids

    The U.S. authorized telecom transactions with Venezuelan state entities under specific restrictions, while Argentina barred foreign state-controlled companies from bidding on the Belgrano Cargas railway.

Sources

2001online.com · caraotadigital.net · diariovea.com.ve · elinformadorve.com · entornointeligente.com · fintechvenezuelaguia.com.ve · kajgana.com · monitoreamos.com · nuevodia.com.ve · talcualdigital.com · tn.com.ar

This summary has been updated 1 time: see revision history