『Venezuela Re-Entry: a Strategy of Watchful Waiting』のカバーアート

Venezuela Re-Entry: a Strategy of Watchful Waiting

Venezuela Re-Entry: a Strategy of Watchful Waiting

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概要

 Welcome to the award-winning FCPA Compliance Report, the longest running podcast in compliance. In this episode, Tom welcomes Morgan Lewis partners Carl Valenstein (international corporate law, Latin America) and Katelyn Hilferty (international trade, export controls and sanctions) on whether businesses should consider returning to Venezuela after Maduro’s arrest and President Trump’s announcement. Ed. Note-this podcast was recorded in February and since that time OFAC has issued New and Amended Venezuelan-related General Licenses. The situation remains fluid. Valenstein leads off by describing that he is counselling business to engage in “watchful waiting” due to continued instability, corruption, weakened institutions, security risks, uncertainty about elections, and lack of clear U.S. incentives such as political risk insurance. Hilferty explains sanctions relief is narrow: two limited OFAC general licenses focused on Venezuelan-origin oil and U.S.-origin diluents, while most sanctions and broad export control restrictions remain, with licenses revocable. They discuss payment and transparency concerns, large outstanding debts, and major capital and operational challenges to restore oil production. They advise companies to review the licenses, build compliance guardrails, screen counterparties, and prepare contract and payment terms before pursuing opportunities. Key Highlights · What Changed in Venezuela · Watchful Waiting Reality Check · License Reversals and Uncertainty · Compliance Starting Point Checklist · Cartels and Terror Designations · Beyond Oil and Gas Opportunities Resources Morgan Lewis Carl Valenstein Katelyn Hilferty Tom Fox Instagram Facebook YouTube Twitter LinkedIn Returning to Venezuela on Amazon.com Learn more about your ad choices. Visit megaphone.fm/adchoices
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