Article
OFAC Revises The Venezuela Playbook: New Telecommunications Licenses, Relief Clarifications, And Continued CITGO Restrictions
The U.S. Treasury's Office of Foreign Assets Control has issued new general licenses and guidance that significantly expand telecommunications opportunities in Venezuela while clarifying earthquake relief payment processing and extending enforcement timelines for the PdVSA 2020 bond. These developments represent OFAC's continued incremental approach to Venezuela sanctions, balancing humanitarian and commercial engagement with maintained restrictions on government dealings and investment activities.
Lewis Brisbois Bisgaard & Smith LLP