US Treasury Authorizes Wind Down Transactions With Venezuela's PDVSA Through June 1, 2022

The US Department of Treasury on Wednesday authorized wind down transactions to allow limited maintenance of essential operations and contracts for Venezuela's state-owned oil company PDVSA through June 1, 2022

WASHINGTON (UrduPoint News / Sputnik - 24th November, 2021) The US Department of Treasury on Wednesday authorized wind down transactions to allow limited maintenance of essential operations and contracts for Venezuela's state-owned oil company PDVSA through June 1, 2022.

"(A)ll transactions and activities prohibited by EO 13850, as amended, or EO 13884, each as incorporated into the VSR, that are ordinarily incident and necessary to the wind down of operations, contracts, or other agreements in Venezuela involving PdVSA or any entity in which PdVSA owns, directly or indirectly, a 50 percent or greater interest, and that were in effect prior to July 26, 2019, are authorized through 12:01 a.

m. eastern daylight time, June 1, 2022, for the Covered Entities," the Treasury Department's Office of Foreign Assets Control said in a notice.

The waiver specifically approves transactions with Chevron Corporation, Halliburton, Schlumberger Limited, Baker Hughes Holdings LLC, and Weatherford International Public Limited Company, according to the notice.