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3/19/2020

OFAC Extends Expiration Date of General License Related to PDVH and CITGO | U.S. Department of the Treasury

OFAC Extends Expiration Date of General License Related to
PDVH and CITGO
March 14, 2019

Washington – The U.S. Department of the Treasury’s O ice of Foreign Assets Control (OFAC)
today extended the expiration date of a general license related to PDV Holding, Inc. (PDVH), and
CITGO Holding, Inc. General License 7A

provides an 18-month authorization that renews

automatically on a monthly basis, which will enable CITGO to maintain operations in markets
that are based on long-term planning and contractual commitments.
“This extension will further enable CITGO’s ongoing operations while prohibiting any benefit
from flowing back to the illegitimate Maduro regime,” said a Treasury spokesperson.
On January 28, 2019, OFAC designated Petroleos de Venezuela, S.A. (PdVSA) pursuant to
Executive Order (E.O.) 13850 for operating in the oil sector of the Venezuelan economy.
Concurrent with this action, OFAC issued a general license that authorized certain transactions
and activities related to PdVSA and its subsidiaries within specified timeframes. E ective March
14, 2019, General License 7

, dated January 28, 2019, is replaced and superseded in its

entirety by General License 7A. As with any general license issued by OFAC, the license may be
revoked or amended at any time.
View General License 7A.
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https://home.treasury.gov/news/press-releases/sm628

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