GL-7C

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, involving PDV Holding, Inc. (PDVH), CITGO Holding, Inc., and their subsidiaries, where those are the only Government of Venezuela entities involved. It also separately authorized PDVH, CITGO Holding, Inc., and their subsidiaries to purchase and import petroleum and petroleum products from PdVSA and its majority-owned entities, though that authorization expired April 28, 2019. The license automatically renews on the first day of each month and is valid for 18 months from its effective date or the date of any subsequent renewal, whichever is later.

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
• Purchase and importation of petroleum and petroleum products from PdVSA and any entity in which PdVSA owns 50 percent or greater interest by PDVH, CITGO Holding, Inc., and their subsidiaries (valid through April 28, 2019)

Conditions

Payments to or for the benefit of any blocked person other than PDVH, CITGO Holding, Inc., and their subsidiaries that are incident 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: exportation or reexportation of goods, services, or technology to the Government of Venezuela (other than to PDVH, CITGO Holding, Inc., or their subsidiaries); transactions related to the exportation or reexportation of diluents to Venezuela; any transaction otherwise prohibited by the listed Executive Orders or 31 C.F.R. chapter V; or the unblocking of any blocked property except as authorized in paragraphs (a) or (b).