OFAC Delays PDVSA Bond Trading to Nov. 5; Russia-Linked Names Quietly Cut From SDN
On September 16, the Treasury Department's Office of Foreign Assets Control issued Venezuela-related General License 5Z, pushing back, again, the date on which bondholders in Petroleos de Venezuela's 2020 8.5% bond can act on the collateral behind it: a majority stake in Citgo Petroleum's parent company. The new date is November 5, 2026. The old date, set by General License 5Y just six weeks earlier, was September 17.
Administrative actions briefed to the Federal Register (such as this fall\'s Canada import bans) land the same way, dated and unexplained.
In the same release, OFAC deleted three names from its Specially Designated Nationals list. One was a Mexican national sanctioned under the c…
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