OFAC extends Venezuela-related General License authorizing wind-down transactions

On November 17, 2020, the US Treasury Department’s Office of Foreign Asset Control (OFAC) amended General License (“GL”) 8F and re-issued it as General License 8G.  GL 8G extends the validity period of certain limited maintenance and wind-down transactions and activities involving Petróleos de Venezuela S.A. (“PdVSA”) until June 3, 2021.