Venezuela General License 3B

OFFICE OF FOREIGN ASSETS CONTROL

Executive Order 13808 of August 24, 2017

Imposing Additional Sanctions with Respect to the Situation in Venezuela

GENERAL LICENSE 3B

Authorizing Transactions Related to, Provision of Financing for, and Other Dealings in Certain Bonds

(a) Except as provided in paragraph (e) of this general license, all transactions related to, the provision of financing for, and other dealings in bonds specified in the Annex to this general license that would be prohibited by Subsection l(a)(iii) of Executive Order (E.O.) 13808 of August 24, 2017, are authorized, provided that any divestment or transfer of, or facilitation of divestment or transfer of, any holdings in such bonds must be to a non-U.S. person.

(b) Except as provided in paragraph (e) of this general license, U.S. persons are authorized to engage in all transactions prohibited by Subsection l(a)(iii) of E.O. 13808 that are ordinarily incident and necessary to facilitating, clearing, and settling trades of holdings in the bonds specified in the Annex to this general license, provided such trades were placed prior to 4:00 p.m. eastern standard time on February 1, 2019.

(c) Except as provided in paragraph (e) of this general license, all transactions and activities prohibited by Section l(a)(iii) of E.O. 13808 that are ordinarily incident and necessary to the wind down of financial contracts or other agreements that were entered into prior to

4:00 p.m. eastern standard time on February 1, 2019, involving, or linked to, bonds specified in the Annex to this general license are authorized. This authorization is valid through 12:01 a.m. eastern standard time, March 3, 2019.

(d) Except as provided in paragraph (e) of this general license, all transactions related to, the provision of financing for, and other dealings in bonds that were issued both (i) prior to August 25, 2017 (the effective date of E.O. 13808), and (ii) by U.S. person entities owned or controlled, directly or indirectly, by the Government of Venezuela, other than Nynas AB, PDV Holding, Inc. (PDVH), CITGO Holding, Inc., and any of their subsidiaries, are authorized.

(e) This general license does not authorize any transaction that is otherwise prohibited by Executive Order 13850 of November 1, 2018, Executive Order 13835 of May 21, 2018, Executive Order 13827 of March 19, 2018, Executive Order 13808 of August 24, 2017, Executive Order 13692 of March 8, 2015, or any part of 31 C.F.R. chapter V.

(f) Effective February 1, 2019, General License Np. 3A, dated January 28, 2019, is replaced and superseded in its entirety by this General License No. 3B.

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