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OFAC Issues New General Licenses Authorizing Broad PdVSA Transactions
On March 18 and 19, 2026, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued two new Venezuela-related general licenses: General License No. 52 (GL 52), authorizing most previously prohibited transactions involving Petróleos de Venezuela, S.A. (PdVSA) and General License No. 5V (GL 5V), authorizing further transactions related to the PdVSA 2020 8.5 Percent Bond issued on or after May 5, 2026
United States International
CM
Crowell & Moring LLP
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