By Maya Lester KC & Michael O’Kane

OFAC issues Venezuela General Licence 5C & amended FAQ

OFAC has issued General Licence 5C, which replaces and supersedes 5B in its entirely. The licence has delayed effectiveness until 22 July 2020, on which date the licence authorises US persons to engage in all transactions related to, the provision of financing for, and other dealings in the PdVSA 8.5 percent bond that would otherwise be prohibited by Subsection 1(a)(iii) …

VenezuelaVenezuela United StatesUnited States

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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