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💥The US OFAC issued a license to authorize certain transactions involving bonds #PDVSA 2020.
The issuance and continued extension of general licenses by the Office of Foreign Assets Control (#OFAC ) of the U.S. Department of the Treasury in connection with the PDVSA 2020 bond (8.5%) constitute a financial control mechanism of very high geopolitical sensitivity.
* Through successive issuance of licenses (such as extensions of the GL 5 series), OFAC has repeatedly postponed the effective date on which debt holders may enforce collateral or carry out transactions and sales of Citgo Holding, Inc. shares.
* These regulatory measures seek to prevent the immediate transfer or seizure of 50.1% of the shares of the refining subsidiary in U.S. territory that serve as collateral backing for the bond, while maintaining the prohibition on transactions without specific authorization.
* Through updates to its Frequently Asked Questions (such as FAQ 595), the federal agency has maintained a position aimed at assessing under specific licenses those proposals intended to structure restructuring or refinancing arrangements for payments due to creditors.
The actions and licenses issued by the Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury regarding the PDVSA 2020 bond, which is backed by 50.1% of the shares of Citgo Holding, Inc., have primarily aimed to regulate, delay, or limit authorizations for transactions and the enforcement of collateral related to these debt instruments.
Through successive extensions and general licenses (such as the General License 5 series), OFAC has conditioned or temporarily prevented bondholders from taking direct seizure actions against the refining subsidiary’s assets in U.S. territory, while maintaining a strict oversight framework for any financial operation linked to these instruments.
#Citgo #venezuela #License $BTC $YB
The issuance and continued extension of general licenses by the Office of Foreign Assets Control (#OFAC ) of the U.S. Department of the Treasury in connection with the PDVSA 2020 bond (8.5%) constitute a financial control mechanism of very high geopolitical sensitivity.
* Through successive issuance of licenses (such as extensions of the GL 5 series), OFAC has repeatedly postponed the effective date on which debt holders may enforce collateral or carry out transactions and sales of Citgo Holding, Inc. shares.
* These regulatory measures seek to prevent the immediate transfer or seizure of 50.1% of the shares of the refining subsidiary in U.S. territory that serve as collateral backing for the bond, while maintaining the prohibition on transactions without specific authorization.
* Through updates to its Frequently Asked Questions (such as FAQ 595), the federal agency has maintained a position aimed at assessing under specific licenses those proposals intended to structure restructuring or refinancing arrangements for payments due to creditors.
The actions and licenses issued by the Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury regarding the PDVSA 2020 bond, which is backed by 50.1% of the shares of Citgo Holding, Inc., have primarily aimed to regulate, delay, or limit authorizations for transactions and the enforcement of collateral related to these debt instruments.
Through successive extensions and general licenses (such as the General License 5 series), OFAC has conditioned or temporarily prevented bondholders from taking direct seizure actions against the refining subsidiary’s assets in U.S. territory, while maintaining a strict oversight framework for any financial operation linked to these instruments.
#Citgo #venezuela #License $BTC $YB
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