OFAC Extends Expiration Date for Venezuela-Related General License

The Treasury’s Office of Foreign Assets Control extended the expiration date for a Venezuela-related general license, OFAC said in an April 3 notice. General License No. 13E, which replaces No. 13D (see 1910170057), authorizes certain transactions involving Nynas AB, a joint venture between biofuel producer Neste and Petroleos de Venezuela, Venezuela's state-run oil company. OFAC extended the expiration because Nynas is discussing with OFAC a “proposed corporate restructuring” that could “result in significant changes to Nynas AB’s ownership and control,” the notice said, and the expiration will “afford additional time to complete this engagement.​​” The license, which was scheduled to expire April 14, will now expire May 14.