OFAC Continues to Delay Effective Date of Venezuela-Related GL

The Office of Foreign Assets Control July 19 again extended a general license that continues to delay an exemption that would authorize certain transactions related to Petroleos de Venezuela, S.A. General License 5L, which replaced GL 5K, now authorizes certain transactions with PdVSA involving an 8.5% bond on or after Oct. 20. The previous license was set to allow those transactions to occur on or after July 20.