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OFAC Postpones Effective Date of Venezuela General License

OFAC postponed the effective date for certain transactions relating to the Petróleos de Venezuela, S.A. 2020 8.5 Percent Bond ("PdVSA" 2020 8.5 Percent Bond) to October 20, 2020. Effective immediately, the new General License 5D replaces and supersedes General License 5C.

Additionally, OFAC amended a related FAQ to reflect the new effective date.

Primary Sources

  1. OFAC Press Release: Issuance of Venezuela-Related General License 5D and Amended Frequently Asked Question
  2. OFAC General License No. 5D: Authorizing Certain Transactions Related to the Petróleos de Venezuela, S.A. 2020 8.5 Percent Bond on or after October 20, 2020
  3. OFAC FAQ: What Does Venezuela-Related General License 5D Authorize?

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Tags

Regulated Activities
Sanctions Compliance
Body of Law
Sanctions
Jurisdiction
US - Federal
Impacted Foreign Jurisdiction
Venezuela
Organization
Treasury / FinCEN / OFAC / CFIUS
Sub-Author
OFAC