After months of escalating US economic sanctions on Venezuela and its international partners, the US Commerce Department’s Bureau of Industry and Security (BIS) is implementing major changes to US export controls on Venezuela that will significantly restrict remaining trade between the US (and third countries) and Venezuela in US export-controlled products (including technology transfers). These regulatory changes will also impose licensing requirements in many cases for the employment of or other interactions with Venezuelan nationals in the United States and third countries that need access to export-controlled technology.
Effective May 24, 2019, BIS is amending the Export Administration Regulations (EAR) to make the following changes:
- Remove Venezuela from Country Group B (countries eligible for favorable treatment for certain exports of national security-controlled items);
- Add Venezuela to Country Group D:1 (countries of national security concern);
- Add Venezuela to Country Group D:2 (countries of nuclear proliferation concern);
- Add Venezuela to Country Group D:3 (countries of chemical and biological weapons proliferation concern); and
- Add Venezuela to Country Group D:4 (countries of missile technology proliferation concern).