Venezuela's 8.5% Bond Gets Sanctions Hall Pass
Published Date: 9/30/2026
Rule
Summary
Starting June 19, 2026, certain financial transactions involving Venezuela’s 2020 8.5% bond are now allowed, thanks to a new license called GL 5W. This update replaces the old GL 5V and opens the door for more legal dealings with this bond, but other sanctions still apply. If you’re involved in these bonds, keep an eye on the dates and rules to stay in the clear!
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
Allowed dealings in PDVSA 2020 8.5% bond
Starting on or after June 19, 2026, transactions related to the Petróleos de Venezuela, S.A. 2020 8.5 Percent Bond are authorized under General License No. 5W. GL 5W was issued on May 4, 2026 and replaces General License No. 5V.
Other Venezuela sanctions still apply
General License No. 5W does not authorize any transactions or activities that remain prohibited by the Venezuela Sanctions Regulations (31 CFR part 591) or any other part of 31 CFR chapter V. You must still comply with all other applicable VSR and chapter V prohibitions.
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Key Dates
Department and Agencies
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Previous / Next Documents
Previous: 2026-20011, Publication of Transnational Criminal Organizations Sanctions Regulations Web General License 2
The Treasury’s Office of Foreign Assets Control (OFAC) published General License 2, letting people wind down business with CCU Commercial Bank Plc. until July 23, 2026. This means certain transactions that were blocked before are now allowed temporarily, as long as payments to blocked accounts follow the rules. If you’re dealing with CCU Bank or its big owners, this gives you a clear deadline to wrap things up without breaking the law.
Next: 2026-20014, Publication of Russian Harmful Foreign Activities Sanctions Regulations Web General Licenses 131E, 131F, and 131G
The Treasury’s Office of Foreign Assets Control (OFAC) published three updated licenses (131E, 131F, and 131G) that let certain businesses negotiate and enter contracts related to Lukoil International GmbH despite existing sanctions. These licenses replace each other in sequence from April to June 2026, allowing specific transactions that were previously blocked. If you’re involved with Lukoil or its affiliates, these changes could impact your deals and deadlines through May 2026 and beyond.