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681. Does General License 28 extend the authorization of wind-down periods that have expired for Petroleos de Venezuela, S.A. (PdVSA), Banco Central de Venezuela (BCV), or other blocked Government of Venezuela persons?

Answer

No. General License 28, “Authorizing Certain Activities Necessary to the Wind Down of Operations or Existing Contracts Involving the Government of Venezuela,” only authorizes dealings with persons blocked solely pursuant to E.O. of August 5, 2019; General License 28 does not authorize dealings with persons blocked under E.O.s 13692 or 13850, as amended, or any activities or transactions prohibited under E.O.s 13808, 13827, or 13835, each as amended.

General licenses authorizing wind-down periods for previously designated Government of Venezuela entities (e.g., General License 11 pertaining to PdVSA and General License 19 pertaining to BCV) have expired, and all transactions and activities with such designated persons should have been wound down by the expiration of the applicable general license, absent specific authorization from OFAC.

For clarity on the scope of each general license (including its expiration and the Executive orders or prohibitions the general license authorizes against), please refer to the header of each general license, relevant notes, and any specified expiration date.

Date Released
August 6, 2019