OFAC Continues to Delay Effective Date of Venezuela-Related GL
The Office of Foreign Assets Control on Aug. 12 again extended a general license that continues to delay an exemption that would authorize certain transactions related to Petroleos de Venezuela, S.A. General License 5P, which replaced GL 5O, now authorizes…
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certain transactions with PdVSA involving an 8.5% bond on or after Nov. 12. The previous license was set to allow those transactions to occur on or after Aug. 13.