OFAC issues Venezuela general license authorising some PdVSA transactions

OFAC has issued General License 7A, which extends the expiration date of its previous version. The license relates to PDV Holding and CITGO Holding, and provides authorisation for them to “engage in all transactions and activities prohibited by Executive Order 13850 that are ordinarily incident and necessary to the purchase and importation of petroleum and petroleum products from PdVSA” and any entity owned by PdVSA by 50% or more.  See OFAC Notice and General License 7A.