GLOBALPANDI Circular for P&I Clubs

Our correspondents in Venezuela, GLOBALPANDI, have sent us the attached update concerning the political, economic and humanitarian crisis in this country.

In addition, Assureds should be aware that state owned oil company, Petróleos de Venezuela, S.A. (PdVSA), was yesterday designated by OFAC for operating in the oil sector of the Venezuelan economy and therefore from 28 January 2019 this company will be subject to US sanctions.