By Maya Lester KC & Michael O’Kane

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

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Michael is Senior Partner at Peters & Peters Solicitors LLP. He has acted in many of the most high profile and sensitive business crime cases of the last 25 years, at Peters &...

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