OFAC issues Venezuela General Licence 5

Today, OFAC has issued Venezuela General Licence 5, which authorises US persons to engage in all transactions related to, the provision of financing for, and other dealings in the Petroleos de Venezuela SA 2020 8.5 Percent Bond that would otherwise be prohibited by Subsection 1(a)(iii) of Executive Order (EO) 13835. OFAC has also published 2 new Venezuela-related FAQs. The first explains why...

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About Michael O'Kane

Michael O'Kane

Michael was called to the Bar in 1992 and prior to joining Peters & Peters was a senior specialist prosecutor at the Crown Prosecution Service Headquarters (CPS). He was a key member of a small specialist unit responsible for the prosecution of serious and high-profile fraud, terrorist,...

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