President Trump issues an Executive Order prohibiting certain transactions involving the Venezuelan government and state-owned or state-controlled entities.

Key Points:

..The Executive Order imposes new sanctions that prohibit US persons from dealing in certain new debt or new equity of the Venezuelan government — including state-owned Petroleos de Venezuela, S.A. (PdVSA).

..The US Treasury Department’s Office of Foreign Assets Control (OFAC) issued four General Licenses authorizing, among other activities, efforts to wind-down contracts and agreements prohibited by the new sanctions, and most dealings with Citgo and Citgo affiliates.