OFAC Continues to Delay Effective Date of Venezuela-Related GL

The Office of Foreign Assets Control on Aug. 12 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 5P, which replaced GL 5O, now authorizes certain transactions with PdVSA involving an 8.5% bond on or after Nov. 12. The previous license was set to allow those transactions to occur on or after Aug. 13.