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Another day, another FAQ – today’s is Venezuela-related!

Frequently Asked Questions

933. Are the authorizations in paragraph (a) of Venezuela-related General Licenses 7C and 20B, respectively, expired? Answer

No.  The authorizations in paragraph (a) of Venezuela-related General Licenses (GLs) 7C (“Authorizing Certain Activities Involving PDV Holding, Inc. and CITGO Holding, Inc.”) and 20B (“Authorizing Official Activities of Certain International Organizations Involving the Government of Venezuela”), respectively, have not expired and remain in effect.  The activities described in paragraph (a) of GLs 7C and 20B, respectively, are authorized for an 18-month period, which renews automatically for an additional 18 months on the first day of each month, unless the respective GL is modified or revoked.

In the case of GL 7C, the authorization in paragraph (b), which relates to the purchase and importation of petroleum and petroleum products from Petróleos de Venezuela, S.A., expired on April 28, 2019. The authorization in GL 7C paragraph (b) does not automatically renew and is no longer in effect.

Links:

OFAC Notice

FAQ 933

Categories: Frequently Asked Questions (FAQ) Guidance OFAC Updates Venezuela sanctions

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