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Bankers Under Pressure to Trace Links to Venezuela’s PDVSA: Sources
By Daniel Bethencourt
printU.S. sanctions against Venezuela's state-run oil firm mark a dramatic escalation of the ongoing fray between the White House and President Nicolas Maduro, leaving banks scrambling to identify their ties to the country's energy sector, sources told ACAMS moneylaundering.com. On Monday, the Treasury Department's Office of Foreign Assets Control, or OFAC, disclosed the addition of Petroleos de Venezuela, S.A., or PDVSA, to its list of "Specially Designated Nationals" for allegedly enabling the diversion of billions of dollars to Maduro and his political allies. The designation, which also covers any entities at least half-owned by PDVSA, comes days after U.S. officials...
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The U.S. Treasury Department's Office of Foreign Assets Control issued General License No 11 under Executive Order 13850 with respect to certain activities necessary to maintain or wind down operations or existing contracts with Petroleos de Venezuela, S.A.
January 28, 2019
The U.S. Treasury Department announced that the Office of Foreign Assets Control has sanctioned Petroleos de Venezuela, S.A., Venezuela's state-owned oil company and a primary source of income, pursuant to Executive Order 13850 for operating in the oil sector of the Venezuelan economy.
January 28, 2019