OFAC Updates Venezuela-Related General License
The Office of Foreign Assets Control on Sept. 10 again extended a general license that continues to delay certain transactions related to Petroleos de Venezuela, S.A.. General License No. 5H, which replaced No. 5G (see 2107210009), now authorizes certain transactions…
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with PdVSA involving an 8.5% bond on or after Jan. 1, 2022. The agency also updated a frequently asked question to reflect the change. The previous license was set to allow those transactions to occur on or after Oct. 21.