OFAC Extends Expiration Date for Venezuela-Related General License
The Treasury’s Office of Foreign Assets Control extended the expiration date for a Venezuela-related general license, OFAC said in an April 3 notice. General License No. 13E, which replaces No. 13D (see 1910170057), authorizes certain transactions involving Nynas AB, a…
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joint venture between biofuel producer Neste and Petroleos de Venezuela, Venezuela's state-run oil company. OFAC extended the expiration because Nynas is discussing with OFAC a “proposed corporate restructuring” that could “result in significant changes to Nynas AB’s ownership and control,” the notice said, and the expiration will “afford additional time to complete this engagement.” The license, which was scheduled to expire April 14, will now expire May 14.