OFAC Clarifies That Exportation Of Diluents To Venezuela Is Not Permitted

CW
Cadwalader, Wickersham & Taft LLP

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Cadwalader, established in 1792, serves a diverse client base, including many of the world's leading financial institutions, funds and corporations. With offices in the United States and Europe, Cadwalader offers legal representation in antitrust, banking, corporate finance, corporate governance, executive compensation, financial restructuring, intellectual property, litigation, mergers and acquisitions, private equity, private wealth, real estate, regulation, securitization, structured finance, tax and white collar defense.
OFAC amended several general licenses to clarify that transactions and dealings concerning the exportation of diluents to Venezuela are not permitted.
United States International Law
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OFAC amended several general licenses to clarify that transactions and dealings concerning the exportation of diluents to Venezuela are not permitted.

As previously covered, OFAC sanctioned Petróleos de Venezuela, S.A., the Venezuelan state-owned oil and natural gas company, pursuant to Executive Order 13850.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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