PRINT
OFFICE OF FOREIGN ASSETS CONTROL
Executive Order 13850 of November 1, 2018
Blocking Property of Additional Persons Contributing to the Situation in Venezuela
Executive Order of August 5, 2019
Blocking Property of the Government of Venezuela
GENERAL LICENSE NO. 7C
Authorizing Certain Activities Involving PDV Holding, Inc. and CITGO Holding, Inc.
(a) Except as provided in paragraphs (c) and (d) of this general license, all transactions and activities prohibited by Executive Order (E.O.) 13850, as amended by E.O. 13857 of January 25, 2019, or E.O. of August 5, 2019, with respect to PDV Holding, Inc. (PDVH), CITGO Holding, Inc., and any of their subsidiaries are authorized, where the only Government of Venezuela entities involved are PDVH, CITGO Holding, Inc., or any of their subsidiaries. This authorization automatically renews on the first day of...
Click the appropriate link below for access to this file.
Click the appropriate link below for access to this file.
*Note common to certain GLs: This is one of 12 GLs that pre-dated the blocking of the Government of Venezuela, pursuant to EO 13884, and was amended to account for the blocking. Except as otherwise noted, the substance of what the GL authorizes remains unchanged as a result of EO 13884. OFAC did not amend any FAQ dealing primarily with this FAQ as a result of the blocking of the GOV.
1) This GL was initially issued in connection with the designation, pursuant to EO 13850, of PdVSA. PDV Holding, Inc. (PDVH), CITGO Holding, Inc., and their subsidiaries are, as subsidiaries of PdVSA, blocked by EO 13850 by operation of law, pursuant to the 50% rule. With respect to subsection (b), note that PDVH and CITGO Holding, Inc. are both U.S. persons,...