OFAC Continues to Delay Effective Date of Venezuela-Related License
The Office of Foreign Assets Control on June 20 again extended a general license that continues to delay an exemption that would authorize certain transactions related to Petroleos de Venezuela, Venezuela’s state-owned energy company. General License 5S, which replaced GL…
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5R, now authorizes certain transactions with PdVSA involving an 8.5% bond on or after Dec. 20. The previous license was set to allow those transactions to occur on or after July 3.