OFAC Updates Venezuela-Related General License

The Office of Foreign Assets Control on Sept. 10 again extended a general license that continues to delay certain transactions related to Petroleos de Venezuela, S.A.. General License No. 5H, which replaced No. 5G (see 2107210009), now authorizes certain transactions with PdVSA involving an 8.5% bond on or after Jan. 1, 2022. The agency also updated a frequently asked question to reflect the change. The previous license was set to allow those transactions to occur on or after Oct. 21.