US heightens export controls for Venezuela

New BIS licensing designation puts Maduro regime among those countries of U.S. national security concern, such as China, Iran, North Korea, Cuba and Syria.

US heightens export controls for Venezuela

New BIS licensing designation puts Maduro regime among those countries of U.S. national security concern, such as China, Iran, North Korea, Cuba and Syria.

US heightens export controls for Venezuela

New BIS licensing designation puts Maduro regime among those countries of U.S. national security concern, such as China, Iran, North Korea, Cuba and Syria.

 

   The Commerce Department’s Bureau of Industry and Security will now carry out additional oversight of exports to Venezuela that may pose a national security threat.
    The move, which was announced in the Wednesday Federal Register and took immediate effect, specifically adds another layer of licensing scrutiny to U.S. exports bound to Venezuela. The U.S. has stepped up economic action against the Maduro regime which continues to hold power after being voted out in a recent election.
    In its recent action, BIS amended the Export Administration Regulations (EAR) to remove Venezuela from the Country Group B, which provides “favorable treatment” for certain exports of national security-controlled items, and placed it on Country Group D:2-4, which lists countries of national security concern and eliminates certain license exceptions available to countries in Group B.
    BIS said the move counters Venezuela’s recent introduction of foreign military personnel and equipment to quell uprisings against the Maduro regime. Under the agency’s Country Group D:2-4 designation, Venezuela becomes part of the list of countries of nuclear, chemical and biological weapons, and missile technology concern, such as China, Iran, North Korea, Cuba and Syria.

   The agency warned that Venezuela-bound U.S. shipments on board a carrier through May 24 that are exported, re-exported or transferred (in-country) may continue to the destination using the Country Group B designation by no later than midnight on June 24. If delivery is expected after June 24, the shipment will require a license in accordance with the new final rule.

However, if shipping alliances are outlawed altogether, then freight rates will skyrocket because alliances are the only way that carriers can operate ultra-large container ships (ULCVs) effectively.

U.S.-flag Great Lakes freighters moved 10.6 million tons of cargo in May, an 11.9% year-on-year increase and 8.4% above the month's five-year average.

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Trade remedy to Central American exodus sought

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US heightens export controls for Venezuela

New BIS licensing designation puts Maduro regime among those countries of U.S. national security concern, such as China, Iran, North Korea, Cuba and Syria.

May 28, 2019 on Dec 27, 2018AmericanShipper.com

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US heightens export controls for Venezuela

New BIS licensing designation puts Maduro regime among those countries of U.S. national security concern, such as China, Iran, North Korea, Cuba and Syria.

May 28, 2019 on Dec 27, 2018AmericanShipper.com