The U.S. Department of Commerce published a Final Rule in today’s Federal Register officially moving Venezuela from country Group B which provides favorable treatment for certain exports of national security concern to Group D:1 Countries of National Security concern. This new announcement also places Venezuela into Country Groups D:2-4 which contains countries of concern for nuclear, chemical and biological weapons and missile technology. The movement to Group D negates the potential to use certain license exceptions found in Part 740 and subjects Venezuela to the stricter “case-by-case” licensing requirements on exports to countries of National Security Concern delineated in Part 742.4 of the EAR. The rule is effective as of May 24th, 2019.
Terms of Service/Disclaimer: The materials and information contained on this site are provided for informational purposes only and are not to be considered as legal or regulatory advice. Transmission of the information is not intended to create, and receipt does not constitute, a consultancy-client relationship between the sender and receiver. Jonathan Fink and TSI Global Consulting, LLC do not provide any warranties whatsoever with respect to any materials or hyperlinks found throughout this web site. These materials and hyperlinks are offered as a service to our readers. All information, including hyperlinks, on this site is presented “as is” and without any warranties that the information is useful, accurate or true, and all liability arising from use of this site is hereby disclaimed. Visitors to this web site should not act upon any information found on this web site without first seeking professional legal and/or regulatory export compliance counsel. Views expressed by readers in comments to blog posts are views of those readers alone and are not the views of TSI Global Consulting, LLC. Readers leaving comments grant to TSI Global Consulting LLC all intellectual property rights in such comments, including the right to edit or modify such comments. Comments may be edited or deleted for any reason at the sole option of TSI Global Consulting, LLC