OFAC updates general licenses for Venezuela bond payments
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The Treasury Department’s Office of Foreign Assets Control (OFAC) published two general licenses, numbered 5U and 5V. These documents authorize specific financial transactions involving a bond issued by Petroleos de Venezuela, S.A. in 2020.
Why it matters: This is an administrative update to the timing of permitted payments. It ensures that banks and financial institutions have clear permission to process bond-related transactions without risking penalties from OFAC. The shift in dates likely reflects a need to align with other regulatory requirements or internal processing windows.
Who it affects
- Financial institutions handling Venezuelan sovereign debt
This information comes from a Federal Register notice by OFAC; you should verify the specific terms in General License 5V before relying on it for financial decisions.
Agency: Treasury Department, Foreign Assets Control Office
Source: Federal Register — read the official document