OFAC Continues to Delay Effective Date of Venezuela-Related License
The Office of Foreign Assets Control on March 6 again extended a general license that continues to delay an exemption that would authorize certain transactions related to Petroleos de Venezuela, the country’s state-owned energy company. General License 5R, which replaced…
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GL 5Q, now authorizes certain transactions with PdVSA involving an 8.5% bond on or after July 3. The previous license was set to allow those transactions to occur on or after March 7.