The United States Department of the Treasury issued a resolution on April 15 easing some sanctions once morest the state-owned Petróleos de Venezuela SA (PDVSA), in accordance with its general license 50 from the Office of Foreign Assets Control (OFAC) that allows transactions related to the oil company’s bonds.
“As of August 13, 2024, all transactions related to the provision of financing and other transactions in the 8.5% Petróleos de Venezuela, SA 2020 Bond that were prohibited by Executive Order 13835 of May 21, 2018 (…) are authorized.“, reads the statement posted on social media.
#WashingtonDC the #OFAC issues General License 50 authorizing certain transactions related to the 2020 bonds of #PDVSA (8.5% of the bonds) effective from April 15, 2024. pic.twitter.com/04u8vWArke
— Maibort Petit (@maibortpetit) April 15, 2024
This measure once once more allows the state oil company to do business with the holders of the Pdvsa 2020 bond, which was blocked by the sanctions. However, any other activity linked to the oil company that is not contemplated in the licenses issued by OFAC remains prohibited.
The Biden administration is determined to punish the Maduro regime in some way, although it is expected to stop short of a full return to the “maximum pressure” policy of the Donald Trump era.
Possible steps under serious consideration would be to allow Venezuela to continue selling its crude on world markets but reimpose a ban on the use of US dollars in such transactions.
#OFAC #approved #transactions #related #PDVSAs #bonds
2024-07-21 20:29:53
