Venezuela General License 7C - Authorizing Certain Activities Involving PDV Holding, Inc. and CITGO Holding, Inc. [PDF File Contains All Versions]

Date issued: Aug. 05 2019

Last substantive commentary amendment:
May. 25 2025

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TURBOFAC Commentary (1682 words)

Notes:

*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,...