OFAC allows PDVSA 2020 bondholders to enforce rights

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OFAC allows PDVSA 2020 bondholders to enforce rights

PDVSA
Employees of Petroleos de Venezuela, PDVSA, shout slogans during a pro-government march in Caracas, Venezuela, Tuesday, Feb. 18, 2014. The Venezuelan government accuses the Obama administration of siding with student protesters it has blamed for violence that led to three deaths last week. Maduro claims the U.S. is trying to stir up unrest to regain dominance of South America's largest oil producer. (AP Photo/Alejandro Cegarra) | Alejandro Cegarra/AP/Press Association Images

The US Treasury Department’s Office of Foreign Asset Control (OFAC) has issued a licence that would enable holders of PDVSA’s 8.5% 2020s to access the bond’s collateral despite an executive order that prohibits US persons from receiving shares from the Venezuelan government.

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