Department of the Treasury authorizes US companies to execute transactions with PDVSA

[-Garrix]

The order allows the holders of Petroleum Bonds of Venezuela (Pdvsa) to demand the execution of the commitments

 

ÚN.- The US Treasury Department, through the Office of Foreign Assets Control (Ofac), published this Thursday the Number 5 License, through which it authorizes citizens or companies Americans, who have in their possession the Pdvsa 2020 bond, claim the collection of their guarantee.

"General License 5 authorizes people from the US UU To participate in all transactions related to the provision of financing and other business in Petróleos de Venezuela SA 2020, "says the text published on the website of the Treasury Department.

"Authorizing the bondholders to enforce the rights related to the Pdvsa 2020 bond prevents the Venezuelan government from using the executive order to breach its bond obligations without consequences. In order to provide this authorization, the Ofac is issuing the general license 5, which eliminates the executive order 13,835 as an obstacle for the holders of the Pdvsa 2020 bond to accede to its guarantee, "the Ofac adds.

Trump issued an executive order in May of this year, in which US citizens or companies were prohibited from acquiring shares in companies in which the Venezuelan government was a majority shareholder.