OFAC issues Venezuela General Licence 5G and FAQ

OFAC has issued Venezuela-related General Licence (GL) 5G, which delays until 21 October 2021 the authorisation of US persons to engage in transactions related to the provision of financing for/other dealings in the Petróleos de Venezuela, S.A. (PdVSA) 2020 8.5% bond otherwise prohibited by subsection 1(a)(iii) Executive Order (E.O.) 13835. GL 5F is replaced and superseded in its entirety. Notice. …

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About 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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