ARTICLE
10 October 2019

OFAC Extends Expiration Dates Of Venezuelan General Licenses

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 extended the expiration dates of two Venezuela-related General Licenses to March 31, 2020.
United States International Law
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In particular, OFAC extended until March 31, 2020 the dates for the Venezuela-related (i) General License No. 9F, which authorizes transactions in certain securities, and (ii) General License No. 3G, which permits transactions regarding dealings in certain bonds. As previously covered, OFAC expanded sanctions against the "Government of Venezuela" to include Petróleos de Venezuela, S.A. (PdVSA), the Venezuelan state-owned oil and natural gas company, pursuant to Executive Order 13850.

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