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U.S. banned petro in Venezuelan debt restructuring agreementsMay 08, 2026
The U.S. authorized advisory services for the restructuring of Venezuela's debt, but explicitly prohibited the use of petro.
The Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury issued General License 58 (GL-58) on May 5, 2026, under the Venezuela Sanctions Regulations.
The document opened a regulatory window for law firms, financial advisors, and consultants to provide services to the Venezuelan government regarding a potential restructuring of its sovereign debt, including the debt of Petróleos de Venezuela, S.A. (PdVSA) and its affiliated entities. However, the text imposed a direct restriction on digital assets.
U.S. banned petro in Venezuelan debt restructuring agreements
May 08, 2026
The U.S. authorized advisory services for the restructuring of Venezuela's debt, but explicitly prohibited the use of petro.
The Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury issued General License 58 (GL-58) on May 5, 2026, under the Venezuela Sanctions Regulations.
The document opened a regulatory window for law firms, financial advisors, and consultants to provide services to the Venezuelan government regarding a potential restructuring of its sovereign debt, including the debt of Petróleos de Venezuela, S.A. (PdVSA) and its affiliated entities. However, the text imposed a direct restriction on digital assets.
The U.S. authorized advisory services for the restructuring of Venezuela's debt, but explicitly prohibited the use of petro.
The Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury issued General License 58 (GL-58) on May 5, 2026, under the Venezuela Sanctions Regulations.
The document opened a regulatory window for law firms, financial advisors, and consultants to provide services to the Venezuelan government regarding a potential restructuring of its sovereign debt, including the debt of Petróleos de Venezuela, S.A. (PdVSA) and its affiliated entities. However, the text imposed a direct restriction on digital assets.
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