Update on Trademark Protection in Venezuela Under U.S. Sanctions

Despite U.S. economic sanctions imposed on Venezuela, the Office of Foreign Assets Control (OFAC) of the U.S. Treasury Department advised INTA on May 14, 2019, that fees for filing trademark applications and maintenance of registrations may be paid in U.S. dollars or Euros through the Banco del Tesoro in Venezuela. It is INTA’s understanding that many counsel in Venezuela have established accounts with the Banco del Tesoro for this purpose.