On 5 August 2019 the U.S. President signed Executive Order (E.O.) 13884 entitled “Blocking Property of the Government of Venezuela.” E.O. 13884 freezes Venezuelan assets in the U.S. and prohibits any transactions with the Government of Venezuela. On 6 August 2019 the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced new and amended General Licenses in connection with E.O. 13884, new and revised FAQs, and a guidance document regarding humanitarian assistance to Venezuela.
Furthermore, OFAC announced the publication of amended Iranian Financial Sanctions Regulations, implementing E.O. 13871. OFAC published new FAQs in relation to this amendment.
Also on 6 August 2019, OFAC announced a $1,709,325 settlement agreement with PACCAR Inc, a company headquartered in Bellevue, Washington that primarily manufactures and sells trucks. Between 2013 and 2015, DAF Trucks N.V., a subsidiary of PACCAR Inc headquartered in the Netherlands, sold or supplied 63 trucks to Iranian end-customers, apparently violating the Iranian Transactions and Sanctions Regulations, 31 C.F.R. part 560 (ITSR).