Imposition of EU sanctions to address the situation in Venezuela

SUMMARY OF:

Regulation (EU) 2017/2063 — EU restrictive measures in view of the situation in Venezuela

Decision (CFSP) 2017/2074 — EU restrictive measures in view of the situation in Venezueala

WHAT IS THE AIM OF THIS REGULATION AND THIS DECISION?

They set out the measures imposed by the EU through which it aims to foster a peaceful, negotiated resolution to the situation in Venezuela. They were accompanied by Council conclusions setting out the EU’s political position and explaining the reasons for the imposition of sanctions.

A further Council Decision adopted in January 2018 placed 7 individuals holding official positions under restrictive measures.

KEY POINTS

The EU Treaties provide the necessary legal bases conferring on the EU the power to impose sanctions (restrictive measures) on governments of non-EU countries, non-state entities and individuals to bring about a change in their policy or activity.

Restrictive measures

The decision and the regulation notably provide for the following measures:

a ban on the export of arms and equipment which might be used for internal repression (a list of included items is found in Annex I of the regulation);
a ban on the export of surveillance equipment (a list of included items is found in Annex II of the regulation);
the freezing of funds* (financial assets and benefits of all kinds) and economic resources* of:
- certain persons, entities and bodies responsible for either serious human rights violations, or the repression of civil society and democratic opposition, or
- those whose actions, policies or activities otherwise undermine democracy or the rule of law in Venezuela (lists of the individuals, entities and bodies covered may be found in Annexes IV and V of the regulation);
restrictions on admission of individual persons to the territory of EU countries (‘travel ban’).

The regulation is directly applicable in and binding on the EU countries' competent authorities and thereby ensures uniform application of the measures within the EU, in particular as regards businesses. The decision (imposing the travel ban and arms embargo) is binding on the EU countries but requires national implementation measures.

FROM WHEN DO THE REGULATION AND THE DECISION APPLY?

The regulation and the decision have applied since 14 November 2017.

BACKGROUND

For more information, see:

Delegation of the European Union to Venezuela (European External Action Service).

KEY TERMS

Freezing of funds: preventing any move, transfer, alteration or use of, access to, or dealing with funds in any way that would result in:

any change in their volume, amount, location, ownership, possession, character or destination; or
any other change that would enable the funds to be used, including portfolio management.

Freezing of economic resources: preventing the use of economic resources to obtain funds, goods or services in any way, including, but not limited to, by selling, hiring or mortgaging them

MAIN DOCUMENTS

Council Regulation (EU) 2017/2063 of 13 November 2017 concerning restrictive measures in view of the situation in Venezuela (OJ L 295, 14.11.2017, pp. 21-37)

Successive amendments to Regulation (EU) 2017/2063 have been incorporated into the original document. This consolidated version is of documentary value only.

Council Decision (CFSP) 2017/2074 of 13 November 2017 concerning restrictive measures in view of the situation in Venezuela (OJ L 295, 14.11.2017, pp. 60-68)

See consolidated version.

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