Issuance of a New Venezuela-related Executive Order and General Licenses;
Venezuela-related Designation
1/28/2019
the Department of the Treasury’s Office of Foreign Assets Control (OFAC)
designating Petróleos de Venezuela, S.A. (PdVSA) pursuant to Executive Order (E.O.) 13850 for operating in the oil sector of the Venezuelan economy,
persons operating in Venezuela’s oil sector are subject to sanctions pursuant to E.O. 13850.
In addition, OFAC is amending
General License 3 “Authorizing Transactions Related to, Provisions of Financing for, and Other Dealings in Certain Bonds,”
issuing the following eight new Venezuela-related general licenses in connection with this designation:
General License 7 “Authorizing Certain Activities with PDV Holding, Inc. and CITGO Holding, Inc.,”
General License 8 “Authorizing Transactions Involving Petróleos de Venezuela, S.A. (PdVSA) Prohibited by Executive Order 13850 for Certain Entities Operating in Venezuela,”
General License 9 “Authorizing Transactions Related to Dealings in Certain Debt,”
General License 10 “Authorizing the Purchase in Venezuela of Gasoline from Petróleos de Venezuela, S.A. (PdVSA),”
General License 11 “Authorizing Certain Activities Necessary to Maintenance or Wind Down of Operations or Existing Contracts with Petróleos de Venezuela, S.A. (PdVSA),”
General License 12 “Authorizing Certain Activities Necessary to Wind Down of Operations or Existing Contracts with Petróleos de Venezuela, S.A. (PdVSA),”
General License 13 “Authorizing Certain Activities Involving Nynas AB,”
General License 14 “Official Business of the United States Government.”
https://www.treasury.gov/resource-center/sanctions/OFAC-Enforcement/Pages/20190128.aspx