{"id":7064,"date":"2019-02-04T22:04:45","date_gmt":"2019-02-04T22:04:45","guid":{"rendered":"https:\/\/diazreus.com\/ofac-issues-new-guidance-on-pdvsa-albanisa-related\/"},"modified":"2021-01-13T16:26:13","modified_gmt":"2021-01-13T16:26:13","slug":"ofac-issues-new-guidance-on-pdvsa-albanisa-related","status":"publish","type":"post","link":"https:\/\/diazreus.com\/ru\/ofac-issues-new-guidance-on-pdvsa-albanisa-related\/","title":{"rendered":"OFAC issues new guidance on PDVSA\/ALBANISA-related sanctions"},"content":{"rendered":"

 <\/p>\n

\"\"<\/a>On\u00a0February 1, 2019,\u00a0the Office of Foreign Assets Control («OFAC») issued new\u00a0regulations\u00a0in connection with the January 28, 2019 designation of Petr\u00f3leos de Venezuela, S.A. (\u201cPDVSA\u201d) and of any entity in which PDVSA owns, directly or indirectly, a 50 percent or greater interest,\u00a0such as Alba de Nicaragua S.A. (\u201cALBANISA\u201d).<\/div>\n
<\/div>\n
First, OFAC issued two new general licenses: General License 9A authorizing\u00a0U.S. persons to engage in all transactions and activities related to dealings in certain securities; and General License 3B authorizing\u00a0U.S. persons to engage in all transactions related to, the provision of financing for, and other dealings in the bonds that are listed therein.<\/div>\n
<\/div>\n
Second, OFAC issued new guidelines shedding light on the authorizations\u00a0for (i) U.S. and non-U.S. persons to continue to constitute, offer, and trade in funds that include only synthetic risk in holdings in PDVSA; (ii) U.S. financial institutions to reject, rather than block, certain funds transfers that involve PDVSA; (iii) U.S. persons to purchase\u00a0petroleum and petroleum products from PDVSA pursuant to\u00a0OFAC\u2019s general licenses.\u00a0OFAC\u2019s new\u00a0guidelines also\u00a0shed light on the prohibitions\u00a0for (i) U.S. funds to participate in transactions related to holdings in PDVSA;\u00a0(ii)\u00a0U.S. persons to engage in swaps and non-cash transactions involving the purchase or exchange of petroleum or petroleum products in which PDVSA has an interest; (iii) non-U.S. entities to purchase\u00a0petroleum and petroleum products from PDVSA, absent OFAC\u2019s authorization, if the transaction involves\u00a0U.S. persons or any other U.S. nexus.<\/div>\n
<\/div>\n
Finally, OFAC issued new clarifications on (i) the general licenses\u00a0involving certain bonds, including the PDVSA 2020 8.5 percent bond; (ii)\u00a0the types of activities that OFAC authorizes\u00a0for the maintenance or wind down of operations or existing contracts with PDVSA; (iii)\u00a0the level of due diligence that financial institutions or registered broker-dealers should have in connection with certain\u00a0transfers or divestment of debt\u00a0from PDVSA; (iv) the scope of General Licenses 9A and 3B.<\/div>\n","protected":false},"excerpt":{"rendered":"

On\u00a0February 1, 2019,\u00a0the Office of Foreign Assets Control («OFAC») issued new\u00a0regulations\u00a0in connection with the January 28, 2019 designation of Petr\u00f3leos de Venezuela, S.A. (\u201cPDVSA\u201d) and of any entity in which PDVSA owns, directly or indirectly, a 50 percent or greater interest,\u00a0such as Alba de Nicaragua S.A. (\u201cALBANISA\u201d)…<\/p>\n","protected":false},"author":1,"featured_media":3797,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"rs_blank_template":"","rs_page_bg_color":"#ffffff","slide_template_v7":"","inline_featured_image":false,"footnotes":""},"categories":[551],"tags":[],"class_list":["post-7064","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-551"],"acf":[],"yoast_head":"\nOFAC issues new guidance on PDVSA\/ALBANISA-related sanctions<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/diazreus.com\/ru\/ofac-issues-new-guidance-on-pdvsa-albanisa-related\/\" \/>\n<meta property=\"og:locale\" content=\"ru_RU\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"OFAC issues new guidance on PDVSA\/ALBANISA-related sanctions\" \/>\n<meta property=\"og:description\" content=\"On\u00a0February 1, 2019,\u00a0the Office of Foreign Assets Control ("OFAC") issued new\u00a0regulations\u00a0in connection with the January 28, 2019 designation of Petr\u00f3leos de Venezuela, S.A. 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