OFAC issues Venezuela-related GLs and FAQs
On 12th March 2020, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued three amended General Licenses (GL):
GL15C: Authorizing Transactions Involving Certain Banks for Certain Entities
GL16C: Authorizing Maintenance of U.S. Person Accounts and Noncommercial, Personal Remittances involving Certain Banks
GL36A: Authorizing Certain Activities Necessary to the Wind Down of Transactions Involving Rosneft Trading S.A. or TNK Trading International S.A