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US Office of Foreign Assets Control (OFAC) Issues Amended Venezuela-related General Licenses 8D and 13D

Recently, the Department of the Treasury’s OFAC issued an amended General License 8D, “Authorizing Transactions Involving Petróleos de Venezuela, S.A. (PdVSA) Necessary for Maintenance of operations for Certain Entities in Venezuela.” General License 8D replaces General License No. 8C and authorizes transactions not related to the exportation of reexportation of diluents and not otherwise prohibited with PdVSA by Chevron Corporation, Halliburton, Schlumberger Limited, Baker Hughes, Weatherford International and their subsidiaries through January 22, 2020.

OFAC also issued an amended General License 13D, “Authorizing Certain Activities Involving Nynas AB.” General License 13D replaces General License 13C and authorizes transactions not related to the exportation of reexportation of diluents or the purchase or acquisition of Venezuelan-origin petroleum or petroleum products, and not otherwise prohibited with Nynas AB and any of its subsidiaries through April 14, 2020.

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