US Extends Wind-Down Period for Doing Business With Venezuela's PDVSA - Treasury | WHAT REALLY HAPPENED

US Extends Wind-Down Period for Doing Business With Venezuela's PDVSA - Treasury

On January 28, the United States blocked $7 billion in PDVSA assets in its jurisdiction and imposed a ban on deals with the entity as part of efforts to facilitate a power transfer in Venezuela.

The United States has extended the deadline for investors to cut ties with Venezuela's Petroleos de Venezuela, S.A. (PDVSA) until May 10, the Treasury Department's Office of Foreign Assets Control (OFAC) said in a notice on its website on Friday.

"OFAC is extending the expiration date of provisions relating to the wind down of certain financial contracts or other agreements involving, or linked to, the bonds listed on the Annex to General License 3D or to certain Petroleos de Venezuela, S.A. securities," the notice said. "This authorization is valid through 12:01 a.m. eastern daylight time, May 10, 2019."

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