GL-7C
ActiveAuthorizing Certain Activities Involving PDV Holding, Inc. and CITGO Holding, Inc.
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Summary
General License No. 7C authorizes all transactions and activities otherwise prohibited by E.O. 13850 (as amended) or the E.O. of August 5, 2019, with respect to PDV Holding, Inc. (PDVH), CITGO Holding, Inc., and their subsidiaries, provided the only Government of Venezuela entities involved are those same entities. It also separately authorizes PDVH, CITGO Holding, Inc., and their subsidiaries to engage in transactions ordinarily incident and necessary to the purchase and importation of petroleum and petroleum products from PdVSA and PdVSA-majority-owned entities, with that authorization valid through April 28, 2019. The license auto-renews on the first day of each month and is valid for 18-month periods. It replaces and supersedes General License No. 7B in its entirety.
Authorized activities
- All transactions and activities prohibited by E.O. 13850 (as amended) or E.O. of August 5, 2019, involving PDVH, CITGO Holding, Inc., and their subsidiaries, where those are the only Government of Venezuela entities involved
- Transactions and activities ordinarily incident and necessary to the purchase and importation of petroleum and petroleum products from PdVSA and any PdVSA-majority-owned entity (valid through April 28, 2019)
Conditions
Payments to or for the direct or indirect benefit of a blocked person other than PDVH, CITGO Holding, Inc., and their subsidiaries that are ordinarily incident and necessary to give effect to authorized transactions must be made into a blocked, interest-bearing account in the United States per 31 C.F.R. § 591.203. The license does not authorize: (1) exportation or reexportation of goods, services, or technology by U.S. persons to the Government of Venezuela (other than to PDVH, CITGO Holding, Inc., or their subsidiaries); (2) any transactions related to the exportation or reexportation of diluents to Venezuela; (3) any transaction otherwise prohibited by the relevant E.O.s or 31 C.F.R. chapter V, or dealings with blocked persons outside paragraphs (a) and (b); or (4) the unblocking of any property blocked pursuant to 31 C.F.R. chapter V, except as authorized by paragraphs (a) or (b).