US authorizes services to Venezuela connected with potential debt restructuring

May 5 - The United States has issued a general license authorizing legal, financial advisory, and consulting services linked to potential debt restructuring in Venezuela, including the South American country's state oil company Petroleos de Venezuela (PDVSA) and entities majority owned by it, according to a posting on Tuesday on the Treasury Department website.

"Authorized legal, financial advisory, and consulting services in connection with potential debt restructuring include the assessment, development, or
preparation of debt restructuring options, proposals, and related supporting materials" are allowed under the license, it said.

The license does not authorize any restructuring or settlement of debt by the government or PDVSA, or direct negotiations between the government and creditors regarding restructuring, the license added.