OFAC authorized all transactions related to the Petróleos de Venezuela, S.A. 2020 8.5 Percent Bond that would otherwise be prohibited by Subsection 1(a)(iii) of Executive Order (“EO”) 13835 (“Prohibiting Certain Additional Transactions With Respect to Venezuela”), as amended by EO 13857 (“Taking Additional Steps to Address the National Emergency with Respect to Venezuela”). The effective date is October 21, 2021. By Cadwalader, Wickersham & Taft LLP. Full Text -> Mondaq

The actions are the latest in a string of recent designations targeting entities involved in the Venezuelan oil sector, which has been a particular focus for OFAC of late. The latest actions offer a number of insights for companies doing business with Venezuela and operating in the oil and shipping industries more broadly. We highlight three key takeaways below. By Steptoe & Johnson LLP. Full Text-> Lexology

On April 16, the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued a Fact Sheet ​highlighting the most relevant exemptions, exceptions, and authorizations for humanitarian assistance and trade under the Iran, Venezuela, North Korea, Syria, Cuba, and Ukraine/Russia-related​ sanctions programs.  Full text -> DoT/OFAC Resource Center

US Treasury Department informed that new sanctions have been imposed on Venezuela Conviasa Airline-> OFAC