September 30, 2019: Venezuela General Licences 3 and 9 updated

General License 3 is up to revision G, while 9 is up to F.

The relevant paragraph in 3G says:

(c) Except as provided in paragraph (:f) of this general license, all transactions and activities prohibited by Section l(a)(iii) of E.O. 13808 or by E.O. 13850, each as amended, or by E.O. 13884 that are ordinarily incident and necessary to the wind down of financial contracts or other agreements that were entered into prior to 4:00 p.m. eastern standard time on February 1, 2019, involving, or linked to, GL 3G Bonds are authorized. This authorization is valid through 12:01 a.m. eastern daylight time, March 31, 2020.

And in 9F:

(d) Except as provided in paragraph (g) of this general license, all transactions and activities prohibited by Section l(a)(iii) of E.O. 13808 or by E.O 13850, each as amended, or by E.O. 13884, that are ordinarily incident and necessary to the wind down of financial contracts or other agreements that were entered into prior to 4:00 p.m. eastern standard time on January 28, 2019, involving, or linked to, PdVSA securities are authorized. This authorization is valid through 12:01 a.m. eastern daylight time, March 31, 2020.

In the previous versions of these licenses, these clauses were due to expire on September 30th.

Links:

OFAC Notice

General License 3G

General License 9F

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s