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Financial Services Law Insights and Observations

OFAC amends Venezuela-related general license

Financial Crimes Of Interest to Non-US Persons Department of Treasury OFAC Sanctions Venezuela

Financial Crimes

On October 21, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced General License (GL) 8D, titled “Authorizing Transactions Involving Petróleos de Venezuela, S.A. (PdVSA) Necessary for Maintenance of Operations for Certain Entities in Venezuela,” which supersedes GL 8C to extend the expiration date through January 22, 2020.

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