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Trading with Venezuela US & EU sanctions

Trading with Venezuela US & EU sanctions

Both the US and the EU employ sanctions against Venezuela.

Consequently it is prohibited to do the following:

• Supplying, transporting, importing or exporting (directly or indirectly) to or from Venezuela:

• arms;

• equipment, technology or software that might be used for internal repression; and

• equipment, technology or software intended primarily for use in the monitoring or interception of internet or telephone communications.

• Engaging with any party that is listed as a restricted party by the EU and/or the US.

• Providing new debt or equity to the government of Venezuela – For Hamburg Sud this means that debt owed to the Venezuelan government or to companies owned by that government has to be paid within 30 days. Any invoice issued by Hamburg Sud to the Venezuelan government or company thereof must have a credit period of less than 30 days.

Actions required by you:

• You may not supply, transport, export or import any of the items mentioned above. Note that the origin of the goods does not matter! There are limited exceptions for the UN.

• You must screen any Venezuelan third party you plan on doing, or already do business with to ensure the third party is not sanctioned. This includes indirect dealings with a restricted party or the government of Venezuela through, e.g., a freight forwarder.

• If the third party is part of the Venezuelan government or a company owned by the Venezuelan government financial restrictions apply, which is the 30 day credit limit mentioned