Latham & Watkins LLP (JD Supra Venezuela)
3 results for Latham & Watkins LLP (JD Supra Venezuela)
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US Expands Venezuela Sanctions: Three Key Questions Answered
New restrictions prohibit dealings between US persons and the Government of Venezuela. On August 5, 2019, President Trump issued Executive Order (E.O.) 13884, entitled “Blocking the Property of the Government of Venezuela.” The E.O. blocks all property and interests in property of the Government of Venezuela that come into the possession or control of United States persons and prohibits US...
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OFAC Imposes Comprehensive Sanctions on Venezuela’s State Oil Company, PdVSA
OFAC adds PdVSA to its sanctions list and simultaneously issues general licenses temporarily allowing certain transactions and activities involving PdVSA. On January 28, the US Treasury Department’s Office of Foreign Assets Control (OFAC) added Petróleos de Venezuela, S.A. (PdVSA), Venezuela’s state-owned oil and natural gas company, to the Specially Designated Nationals and Blocked Persons...
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Venezuela Restructuring: A Long Road Ahead?
Venezuela’s initiative is unlikely to set the stage for a restructuring of international obligations in the face of US sanctions. Key Points: - US sanctions will prohibit US persons from engaging in a restructuring of Venezuela and PdVSA debts that includes the issuance of “new” long term debt. - Creditors should expect that enforcement action will follow a default. The outcomes of that...