US extends protection for Venezuelan state oil firm bonds until November

The US Treasury Department issued an amended sanctions license Wednesday to extend legal protections shielding bond transactions involving Venezuelan state oil company Petroleos de Venezuela, S.A. (PDVSA) until Nov. 5.

"All transactions related to, the provision of financing for, and other dealings in the Petroleos de Venezuela, S.A. 2020 8.5 Percent Bond that would be prohibited by ... the Venezuela Sanctions Regulations... are authorized" on or after Nov. 5, according to the Office of Foreign Assets Control (OFAC).

The directive replaces and supersedes the previous license, issued Aug. 3, barring creditors from enforcing claims or liquidating collateral tied to the defaulted 2020 8.5% bonds until the November threshold arrives.