Frequently Asked Questions

521. I want to provide long-term financing to the Government of Venezuela to help with the exportation or reexportation of agricultural commodities, medicine, medical devices, components, or replacement parts and components for medical devices to Venezuela. Is that allowed?

521 … Yes. General License 4 authorizes all financing and other dealings in new debt related to the exportation or reexportation of agricultural commodities, medicine, medical devices, components, or replacement parts for medical devices, to Venezuela, or to persons in third countries purchasing… Read more

522. Other than through the existing general licenses, under what circumstances might U.S. persons be authorized to deal in new debt of greater than 30 or 90 days issued by the Government of Venezuela?

522 … In the Lima Declaration of August 8, 2017, 12 countries across the Americas refused to recognize the Constituent Assembly or the laws it adopts because of its illegitimate nature, while at the same time fully backing the democratically elected IV Venezuelan National Assembly seated on January… Read more

523. The Venezuela Government International Bond issued on December 29, 2016 (ISIN USP97475AQ39, CUSIP AM1108092) is not included in the Annex to General License 3. Is that intentional? Did OFAC intentionally exclude any other bonds from the Annex?

523 … OFAC intentionally excluded the Venezuela Government International Bond issued on December 29, 2016 (ISIN USP97475AQ39, CUSIP AM1108092) (“the 2036 bond”) from the Annex to General License 3 because available information indicates that the Government of Venezuela is both the bond’s issuer and… Read more

524. I would like to engage in derivatives transactions, including credit default swaps, related to a reference bond that is in the Annex to General License 3. Is that permitted?

524 … Paragraphs (a) and (b) of General License 3 (this content is no longer available) authorize all transactions related to, the provision of financing for, and other dealings in bonds that are either listed in the Annex to General License 3 or that were issued both (i) prior to August 25, 2017,… Read more

722. May crew or other personnel involved in the operation of aircraft transporting authorized travelers to Cuba remain in Cuba along with the aircraft?

722 … The general license authorizing travel-related transactions incident to the exportation or reexportation of authorized goods includes travel-related and such other transactions directly incident to the facilitation of the temporary sojourn of aircraft authorized by the Department of Commerce… Read more

723. Do air carriers or vessel operators need to obtain specific licenses from OFAC to provide services?

723 … No. A general license authorizes persons subject to U.S. jurisdiction to provide carrier services by vessel or aircraft to, from, or within Cuba, in connection with authorized travel, without the need for a specific license from OFAC. For a complete description of what the OFAC general… Read more

724. Do travel service providers (such as travel agents and tour group operators) need to obtain specific licenses from OFAC to provide services for travel to Cuba?

724 … No. A general license authorizes persons subject to U.S. jurisdiction, including travel agents and tour group operators, to provide travel services in connection with authorized travel without the need for specific licenses from OFAC. For a complete description of what this general license… Read more

725. May persons subject to U.S. jurisdiction providing carrier services to authorized travelers between the United States and Cuba provide such services via a third country?

725 … Persons subject to U.S. jurisdiction are authorized to provide carrier services either directly or indirectly between the United States and Cuba for authorized travelers, provided that they hold any additional authorizations required by other U.S. government agencies. For a complete… Read more

726. In the case of a customer traveling to or from Cuba under a specific license, may providers of carrier and travel services collect and retain on file the specific license number in lieu of a physical or electronic copy of the license?

726 … Yes. OFAC allows persons subject to U.S. jurisdiction providing authorized carrier or travel services to a customer traveling under a specific license to maintain either the specific license number or a copy of the license on file. See 31 CFR § 515.572 (b)(1) Persons subject to U.S.… Read more

727. Are carrier and travel service providers required to verify that an individual traveler is authorized to travel to Cuba?

727 … Persons subject to U.S. jurisdiction providing authorized carrier or travel services must retain for at least five years from the date of the transaction a certification from each customer indicating the provision of the CACR that authorizes the person to travel to Cuba. In the case of a… Read more

Frequently Asked Questions

Office of Terrorism and Financial Intelligence