OFAC Again Extends Venezuela General License To Continue Authorization Of Limited Transactions Involving PdVSA And Winding Down Of Operations For Certain Entities
| Published date | 06 December 2021 |
| Law Firm | Thompson Hine LLP |
| Author | Mr Scott E. Diamond |
On November 24, 2021, the Department of the Treasury's Office of Foreign Assets Control (OFAC) issued Venezuela-related General License 8I, "Authorizing Transactions Involving Petróleos de Venezuela, S.A. (PdVSA) Necessary for the Limited Maintenance of Essential Operations in Venezuela or the Wind Down of Operations in Venezuela for Certain Entities." This general license continues to authorize transactions and activities "ordinarily incident and necessary to the limited maintenance of essential operations, contracts, or other agreements," that:
- are for safety or the preservation of...
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