Venezuela-related General License and amended FAQs

OFAC has announced its has issued a Venezuela-related General License and amended five related Frequently Asked Questions.

• General License 31B: "Certain Transactions Involving the IV Venezuelan National Assembly and Certain Other Persons"

Amended Venezuela Sanctions FAQs:

• 522: Other than through the existing general licenses, under what circumstances might U.S. persons be authorized to deal in new debt of greater than 30 or 90 days issued by the Government of Venezuela?
• 547: Can U.S. Persons participate in meetings about restructuring outstanding Venezuelan and PDVSA debt?
• 660: When will sanctions be lifted on Petróleos de Venezuela, S.A. (PdVSA) or any entity in which PdVSA owns, directly or indirectly, a 50 percent or greater interest?
• 679: Executive Order (E.O.) 13884 of August 5, 2019, “Blocking Property of the Government of Venezuela,” blocks all property and interests in property of the Government of Venezuela. What does this mean for the IV Venezuelan National Assembly seated on January 5, 2016 (“IV National Assembly”)?
• 680: Does the blocking of the Government of Venezuela impact the ability of U.S. persons to transact with the Government of Venezuela, or persons in which the Government of Venezuela owns, directly or indirectly, a 50 percent or greater interest?