Washington D.C. 20th January 2020 – The U.S. sanctioned Luis Parra and other lawmakers, who settled with Maduro’s regime a coup against Juan Guaido and the National Assembly. The Treasury Department’s Office of Foreign Assets Control (OFAC) said that Parra and seven other Venezuelans had been added to its sanctions list. The sanctions prohibit Americans from doing business with these persons and block their assets in U.S. soil.

In another release, the OFAC renewed Chevron’s license to remain in Venezuela at least for another 90 days and until 22nd April. The license also granted rights to U.S. services giants, Halliburton, Schlumberger, Baker Hughes, and Weatherford. The U.S. Treasury Department decision is the fourth waiver granted since sanctions were announced in November 2018 in what is becoming a fraught quarterly ritual for the companies

Finally, OFAC also decided to extend to 22nd April any claim regarding defaulted PDVSA’s 8.5% bonds maturing in 2020. The notes have a 50.1% collateral over PDV holding shares, the parent company of CITGO and holder of important assets in the U.S.

Guaido’s administration, which effectively controls CITGO, filed a claim last October and asked a U.S. Court to declare the debt and the collateral offered invalid. You can access the updated General License 5B in the following link https://home.treasury.gov/system/files/126/venezuela_gl5b.pdf

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