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OFFICE OF FOREIGN ASSETS CONTROL
Venezuela Sanctions Regulations
31 CFR part 591
GENERAL LICENSE NO. 52C
Authorizing Certain Transactions Involving Petróleos de Venezuela, S.A.
(a) Except as provided in paragraph (d) of this general license, all transactions prohibited by Executive Order (E.O.) 13884 or E.O. 13850 involving Petróleos de Venezuela, S.A. (PdVSA), or any entity in which PdVSA owns, directly or indirectly, a 50 percent or greater interest (collectively, “PdVSA Entities”), by an established U.S. entity are authorized, provided that:
(1) Any contract for such transactions with PdVSA or PdVSA Entities shall require that dispute resolution proceedings relating to the contract occur in the United States, the United Kingdom, France, or Singapore; and
(2) Any monetary payment to a blocked person, excluding payments for local taxes, permits, or fees, is made into the Foreign...
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[9-15-26 Update – GL amended to added authorization for “all transactions prohibited by the [VSR] that are ordinarily incident and necessary to the execution and signing of contracts, agreements, or other transaction documents by individuals blocked pursuant to the VSR, solely in their official capacity as officers, employees, or authorized representatives of PdVSA or PdVSA Entities, to effectuate transactions authorized by paragraph (a) of [the GL].” This covers transactions with individuals blocked pursuant to EO 13692 which are not otherwise covered by paragraph (a). GL also amended to exclude "Any transaction to affect or alter the governance of PDV Holding, Inc., Citgo Holding, Inc., or CITGO Petroleum Corporation, including the appointment, removal, or replacement of any director, officer, or other corporate governance official"].
[6-10-26 update – GL 46C, 47A, 48B, 50B, 51B, 52A, and...