OFAC issues Venezuela-related General License

OFAC on Friday issued Venezuela General License 8N, "Authorizing Transactions Involving Petróleos de Venezuela, S.A. (PdVSA) Necessary for the Limited Maintenance of Essential Operations in Venezuela or the Wind Down of Operations in Venezuela for Certain Entities," which will expire at 12:01 a.m. EST, November 15, 2024.

The new General License replaces and supersedes General License No. 8M it its entirety.