Venezuela General License 9H - Authorizing Transactions Related to Dealings in Certain Securities [PDF File Contains All Versions]

Date issued: Oct. 18 2023

Last substantive commentary amendment:
Dec. 20 2023

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TURBOFAC Commentary (2084 words)

[Update concerning trading in Venezuela-related securities. On 10-18-2023, OFAC issued broadened versions of Venezuela GL 3 and Venezuela GL 9, amended FAQ 661 and FAQ 662 accordingly, and issued FAQ 1136 to explain the significance of these changes. Refer to FAQ 1136, and comments thereto, for more information about Venezuela-related securities trading in general.

As it relates to this particular item, OFAC removed the otherwise major restriction at paragraph (f)(1) stating that the GL did not authorize "U.S. persons to purchase or invest in, or to facilitate the purchase of or investment in, directly or indirectly, PdVSA Securities, other than purchases of or investments in PdVSA Securities (including settlement of purchases or sales that were pending on January 28, 2019) that are ordinarily incident and necessary to the divestment or transfer of holdings in PdVSA Securities," and...