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OFAC issues amended Venezuela-related general license and FAQ

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

Financial Crimes

On September 10, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) issued Venezuela General License (GL) 5H, which supersedes GL 5G and authorizes certain transactions otherwise prohibited under Executive Orders 13835 and 13857 related to, or that provide financing for, dealings in the Petróleos de Venezuela, S.A. 2020 8.5 Percent Bond on or after January 22, 2022. Concurrently, OFAC amended a Venezuela-related frequently asked question regarding GL 5H.

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