CITGO Holding Archives - The Daily Journal

OFAC extends Citgo protection from creditors through November

September 18, 2026September 18, 2026Tatiana Da GamaLeave a Comment

The Daily Journal.- The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) extended through November 5 the protection that prevents holders of Petróleos de Venezuela (PDVSA) 2020 bonds from seizing, without specific authorization, the Citgo shares that serve as collateral for the debt. OFAC adopted the measure through General License 5Z, which it issued […]

OFAC expands authorization for U.S. companies to operate with PDVSA under new conditions

September 14, 2026September 14, 2026Tatiana Da GamaLeave a Comment

The Daily Journal.— The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) expanded its authorization Monday to allow certain U.S. companies to conduct transactions with Petróleos de Venezuela (PDVSA) and its majority-owned subsidiaries, marking another easing of the sanctions framework governing operations with Venezuela’s oil sector. General License 52C, which OFAC issued on Sept. […]

OFAC delays authorization for PDVSA 2020 bond transactions until September

August 5, 2026August 5, 2026Tatiana Da GamaLeave a Comment

The Daily Journal — The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued General License 5Y on Monday, authorizing certain transactions related to the 8.5% PDVSA 2020 bond, effective September 17, 2026. The new license replaces General License 5X, which OFAC issued on June 18, 2026, and which had set August […]