July 26, 2019

OFAC extends expiration of Venezuela general license 8A

The Department of the Treasury’s Office of Foreign Assets Control has issued  General License 8B, “Authorizing Transactions Involving Petróleos de Venezuela S.A. (PdVSA) Necessary for Maintenance of Operations for Certain Entities in Venezuela,” to replace and supersede General License 8A.  The general license, as amended, applies to the business of five companies in Venezuela, and authorizes them to conduct transactions and activities ordinarily incident and necessary to the maintenance of operations, contracts or other agreements involving PdVSA until October 25, 2019.

OFAC press release | General License 8B