OFAC designates Venezuelan oil company
January 28, 2019
OFAC has posted an announcement that it has designated Petróleos de Venezuela, S.A. (PdVSA) pursuant to Executive Order (E.O.) 13850 for operating in the oil sector of the Venezuelan economy, following a determination by Secretary of the Treasury Steven T. Mnuchin, in consultation with Secretary of State Michael Pompeo, that persons operating in Venezuela’s oil sector are subject to sanctions pursuant to E.O. 13850.
OFAC also amended one General License and added eight new Venezuela-related General Licenses, and expects to issue new FAQs and update existing FAQs in relation to these actions.
Finally, OFAC noted that the president signed an Executive Order, "Taking Additional Steps to Address the National Emergency with Respect to Venezuela," on January 25, and OFAC has published an FAQ relating to that Executive Order.
Identity information on Petróleos de Venezuela, S.A. was provided in an OFAC SDN List Update as follows:
- PETROLEOS DE VENEZUELA, S.A. (a.k.a. PDVSA; a.k.a. PETROLEOS DE VENEZUELA S A; a.k.a. PETROLEOS DE VENEZUELA S.A; a.k.a. REFINERIA EL PALITO), Edificio Petroleos De Venezuela, Torre Este, Piso 9, Avenida Libertador con calle El Empalme, La Campina, Caracas 1010, Venezuela; Torre Este Piso 9, Edif Petroleos de Venezuela, Avenida Libertador, Urb La Campina, Caracas, Distrito Federal, Venezuela; RIF # J-00095036-9 (Venezuela) [VENEZUELA-EO13850].