On Aug. 5, the president of the United States issued Executive Order 13884, blocking all property of the government of Venezuela in the United States. Banks, companies and individuals, in the United States and worldwide, especially those engaged in international business, should understand what the executive order means, why it’s important to be aware, and what to do.

What the New Venezuela Sanctions Mean

Although there are exceptions, in general terms, the order blocks all property of the Venezuelan government in the United States, that comes within the United States, or that is or comes within the possession or control of any U.S. person or entity.