Navigating the Labyrinth: A Practitioner's Guide to Trading Venezuelan Sovereign and PDVSA Debt Under OFAC, EU, and UK Sanctions Frameworks

Every Venezuelan bond trade carries sanctions exposure that can result in civil penalties exceeding $1 million per violation. This deep dive provides a step-by-step compliance framework for funds, banks, broker-dealers, custodians, and legal advisors - mapping the full landscape of prohibitions, General Licenses, EU and UK regimes, custodial architecture, enforcement risk, and the compliance workflow that institutional participants must embed before any trade instruction is issued.