OFAC issued Venezuela related GL 5Z

OFAC issued Venezuela-related General License 5Z, "Authorizing Certain Transactions Related to the Petróleos de Venezuela, S.A. 2020 8.5 Percent Bond on or After November 5, 2026." GL 5Z, effective September 16, 2026, supersedes GL 5Y (dated August 3, 2026) and continues to authorize transactions related to, financing for, and other dealings in the PdVSA 2020 8.5 Percent Bond that would otherwise be prohibited under subsection 1(a)(iii) of E.O. 13835, as amended by E.O. 13857, and incorporated into the VSR. Key change: 5Z pushes the authorized transaction date back from September 17, 2026 (per 5Y) to November 5, 2026. OFAC is also issuing one amended Venezuela-related Frequently Asked Question, FAQ 595.