GL-58
ActiveAuthorizing Certain Services to the Government of Venezuela in Connection with Potential Debt Restructuring
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Summary
This license authorizes all transactions ordinarily incident and necessary to the provision of legal, financial advisory, and consulting services to the Government of Venezuela, including PdVSA and PdVSA Entities, in connection with potential restructuring of their debt. Authorized services include the assessment, development, or preparation of debt restructuring options, proposals, and related supporting materials. The license does not authorize the actual restructuring, transfer, or settlement of debt, nor direct negotiations with creditors.
Conditions
The license does not authorize: (1) actual restructuring, transfer, or settlement of debt or direct creditor negotiations; (2) payment terms that are not commercially reasonable, involve debt swaps or payments in gold, or are denominated in Venezuelan digital currency (including the petro); (3) entry into settlement agreements or enforcement of liens/judgments/arbitral awards affecting blocked property; (4) any transaction by a person located in Russia, Iran, North Korea, Cuba, or China, or entities owned/controlled by or in a joint venture with such persons; (5) any transaction involving SDN-listed individuals or entities (excluding PdVSA and PdVSA Entities); or (6) the unblocking of any property blocked pursuant to 31 CFR Chapter V.
Reporting requirement
Any person providing legal, financial advisory, and consulting services under this license must furnish a copy of the signed contract to Sanctions_inbox@state.gov and VZReporting@doe.gov within 10 business days of execution.