US Treasury's OFAC issues General License 5Z, delaying the PdVSA 2020 bond authorization to 5 November 2026
16 September 2026
The US Treasury's Office of Foreign Assets Control (OFAC) issued General License 5Z on 16 September 2026.
It further delays the effectiveness of the authorization in GL 5 until 5 November 2026.
GL 5 concerns the PdVSA 2020 8.5 percent bond.
Until 5 November 2026 there is no authorization in effect licensing holders of that bond against subsection 1(a)(iii) of E.O. 13835.
PdVSA is Venezuela's state oil company.
License issued:
General License 5Z, 16 September 2026 / ജനറൽ ലൈസൻസ് 5Z, 2026 സെപ്റ്റംബർ 16
Authorization delayed until:
5 November 2026 / 2026 നവംബർ 5
Bond:
PdVSA 2020 8.5 percent
Why it matters for exams: US sanctions on Venezuela's oil sector shape its economy and are a frequent International Relations and economy topic.
Kerala PSCUPSC
In plain words
OFAC Office of Foreign Assets Control — The US Treasury office that administers and enforces economic sanctions.
PdVSA Petróleos de Venezuela, S.A. — Venezuela's state-owned oil company.