OFAC Continues to Delay Effective Date of Venezuela-Related GL
The Office of Foreign Assets Control July 19 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 5L, which replaced GL 5K, now authorizes certain…
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transactions with PdVSA involving an 8.5% bond on or after Oct. 20. The previous license was set to allow those transactions to occur on or after July 20.