Venezuela Sanctions Boost Legal Risks For Energy Cos.
Law360, New York (September 1, 2017, 7:56 PM EDT) -- While tighter U.S. sanctions recently imposed on Venezuelan President Nicolás Maduro's regime largely spare the country's oil and gas sector, experts caution that new restrictions on Venezuelan debt deals could jeopardize ongoing development agreements between foreign energy companies and Venezuela and ultimately force them into litigation.
The sanctions imposed by President Donald Trump's Aug. 24 executive order and outlined by the U.S. Treasury Department's Office of Foreign Assets Control a day later still allow the import and export of crude oil between the U.S. and Petróleos de Venezuela SA, the state-owned oil company also known as PDVSA, as well as debt...
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