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.

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About Michael O'Kane

Michael O'Kane

Michael was called to the Bar in 1992 and prior to joining Peters & Peters was a senior specialist prosecutor at the Crown Prosecution Service Headquarters (CPS). He was a key member of a small specialist unit responsible for the prosecution of serious and high-profile fraud, terrorist,...

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