The permitted transactions in the Treasury’s general licenses N-2 for Iran and 39-B for Venezuela are exceptions to the sanctions regulations imposed by the United States against these countries over the past years.
The license N-2 also authorizes certain transactions involving the Central Bank of Iran or the National Iranian Oil Company (NIOC) as well as certain financial transactions related to the treatment of COVID-19.
The license for Venezuela allows all transactions and activities that involve Banco Central de Venezuela, Banco de Venezuela, S.A. Banco Universal, Banco Bicentenario del Pueblo, de la Clase Obrera, Mujer y Comunas, Banco Universal C.A., and affiliated entities.
At the same time, the license 39-B does not authorize any transactions or activities involving Petroleos de Venezuela, S.A. (PdVSA), Banco de Desarrollo Economico y Social de Venezuela, or Banco Bandes Uruguay S.A., and affiliated entities.